Financial Performance Report – Jul 2024 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                             12 AUGUST 2024


 Category             Summary                   Comments
 Other Revenue        $0.2 million (5.8%) of       •   Royalty and recoupment revenue $47.4k
                      the $3.3 million annual          above budget relating to waste management
                      budget has been                  operations (35.4% or $47.4k of $174.9k annual
                      earned                           budget earned)

 Operating Grants,    $1.6 million (29.5%) of      •   Operating Grants and subsidies is in line with
 Subsidies            the $5.5 million annual          budget expectations at this stage. YTD
                      budget has been                  variance relates to $65k Floating Land grant
                      received                         and $75k for Disaster Recovery & Resilience
                                                       Officer funding program
                                                   •   $1.4 million of the FY 2025 financial assistance
                                                       grant allocation was received in July
                                                       2024. This is a change from the previous
                                                       approach of prepaying part or all of the grant
                                                       in the prior year. Council is yet to receive
                                                       confirmation of the full years funding allocation
                                                       but previous advice from the department has
                                                       been the funding amount allocated would
                                                       decrease, as such there is the potential that
                                                       this may impact Council's 2024/25 operating
                                                       position.

 Unitywater           On track                     •   Unitywater distributions are fixed each year so
 Distributions                                         there is limited budget variance risk

Figure 2: Operating Revenue Position by Type (Excluding Rates)




Operating Expenditure (YTD Benchmark 8.33%)
Actual operating expenditure is currently 8.7% ($12.0 million) of full year budget ($138.7 million).
Detailed commentary for each expenditure category is provided below.

 Category             Summary                       Comments
 Employee Costs       $3.9 million (7.5%) of the         •   Expenditure for permanent staff salaries
                      annual budget of $52.5                 and wages underspent ($179.7k) due to
                      million has been expended              position vacancies, partially offset by
                                                             additional spend on casual staff and
                                                             external labour hire ($99.2k).
                                                         •   Training costs are $4.9k under budget
                                                             (5.7% or $20.9k of $371.1k annual budget
                                                             spent)