Financial Performance Report – Jul 2024 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                            12 AUGUST 2024


 Category            Summary                       Comments
 Materials and       $6.1 million (10.0%) of the         •    Information Technologies Services $23.9k
 Services            $61.0 million annual budget              above budget (8.8% or $468.8k of a $5.3
                     has been expended.                       million annual budget spent)
                                                         •    Buildings & Facilities $41.4k below budget
                                                              (3.8% or $49.2k of $1.3 million annual
                                                              budget spent)
                                                         •    Sports facilities are $27.1k below budget
                                                              (5.4% or 84.9k or a $1.6 million annual
                                                              budget spent)
                                                         •    Environmental services are $24.1k below
                                                              budget (4.4% or $145.7k of a $3.3 million
                                                              annual budget spent)
 Finance Costs       Currently on track                  •    Whilst existing loan borrowings are set
                                                              with fixed interest rates, any further RBA
                                                              rate rises will impact finance costs on new
                                                              loan borrowings.
 Depreciation        Currently on track            Nil
 Other Expenses      Currently on track            Nil


Figure 3: Operating Expenditure Position by Type




Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure at 31 July 2024 is outlined below:


 Expenditure                              YTD Budget         YTD Actual        Variance
                                               $’000              $’000           $’000
 Tourism Noosa Funding Agreement              $1,260             $1,260                -

 Economic Development                              $67              $67                -

 Total                                        $1,327             $1,327                -


Tourism and economic development activity is funded through the general rates. The
first instalments payable under the Tourism Noosa agreement for the 2024-25 financial year was