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2014-06-26 Budget Meeting Attachment C
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Noosa Shire Council ATTACHMENT C
2014/15 Budget Statements
For the period ending 30 June
Annual Result - Total Council Budget Forecast
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Statement of Comprehensive Income $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Revenue
Recurrent revenue
Net rates, levies and charges 60,515 62,402 64,346 66,349 68,413 70,361 72,362 74,420 76,534 78,707
Fees and charges 9,577 9,817 10,062 10,314 10,572 10,809 11,053 11,301 11,556 11,816
Rental income 1,114 1,141 1,170 1,199 1,229 1,257 1,285 1,314 1,344 1,374
Interest received 4,467 4,629 4,845 5,087 5,264 5,581 5,792 6,037 6,294 6,582
Other income 4,708 4,826 4,946 5,070 5,197 5,314 5,433 5,555 5,680 5,808
Grants, subsidies, contributions and donations 5,322 5,455 5,591 5,731 5,874 6,006 6,141 6,280 6,421 6,565
Total recurrent revenue 85,702 88,270 90,961 93,750 96,548 99,328 102,067 104,907 107,829 110,853
Capital revenue
Grants, subsidies, contributions and donations 4,588 1,500 3,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500
Total revenue 90,291 89,770 94,461 100,250 103,048 105,828 108,567 111,407 114,329 117,353
Capital income
Total capital income 427 - - - - - - - - -
Total income 90,718 89,770 94,461 100,250 103,048 105,828 108,567 111,407 114,329 117,353
Expenses
Recurrent expenses
Employee benefits 27,743 27,507 28,195 29,001 29,726 30,573 31,335 32,228 33,031 33,972
Materials and services 33,179 34,008 34,859 35,730 36,623 37,447 38,290 39,151 40,032 40,933
Finance costs 2,525 2,453 2,279 2,099 1,909 1,710 1,491 1,262 1,018 760
Depreciation and amortisation 17,523 17,952 18,242 18,507 18,774 19,071 19,346 19,532 19,734 19,736
Other expenses 4,674 4,791 4,910 5,033 5,159 5,275 5,394 5,515 5,639 5,766
Total recurrent expenses 85,644 86,711 88,484 90,370 92,191 94,076 95,856 97,688 99,455 101,167
Net result 5,074 3,059 5,976 9,880 10,857 11,752 12,711 13,720 14,874 16,186
Operating result
Recurrent revenue 85,702 88,270 90,961 93,750 96,548 99,328 102,067 104,907 107,829 110,853
Recurrent expenses 85,644 86,711 88,484 90,370 92,191 94,076 95,856 97,688 99,455 101,167
Operating result 59 1,559 2,476 3,380 4,357 5,252 6,211 7,220 8,374 9,686
1
Noosa Shire Council ATTACHMENT C
2014/15 Budget Statements
For the period ending 30 June
Annual Result - Total Council Budget | Forecast
2015 2016 An WA 2018 2019 2020 2021 P17) 2023 PA vz.
Statement of Comprehensive Income EAU SUL eae SUL eae SUL eae SUL eae SUL
Revenue
Recurrent revenue
Net rates, levies and charges 60,515 62,402 64,346 66,349 68,413 70,361 72,362 74,420 76,534 78,707
Fees and charges 9,577 9,817 10,062 10,314 10,572 10,809 11,053 11,301 11,556 11,816
Rental income 1,114 1,141 1,170 1,199 1,229 1,257 1,285 1,314 1,344 1,374
Interest received 4,467 4,629 4,845 5,087 5,264 5,581 5,792 6,037 6,294 6,582
Other income 4,708 4,826 4,946 5,070 5,197 5,314 5,433 5,555 5,680 5,808
Grants, subsidies, contributions and donations 5,322 5,455 5,591 5,731 5,874 6,006 6,141 6,280 6,421 6,565
Total recurrent revenue 85,702 88,270 90,961 93,750 96,548 99,328 102,067 104,907 107,829 110,853
Capital revenue
Grants, subsidies, contributions and donations 4,588 1,500 3,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500
Total revenue 90,291 89,770 94,461 100,250 103,048 105,828 108,567 111,407 114,329 117,353
Capital income
Total capital income 427 - - - - - - - - -
Total income 90,718 89,770 94,461 100,250 103,048 105,828 108,567 111,407 114,329 117,353
Expenses
Recurrent expenses
Employee benefits 27,743 27,507 28,195 29,001 29,726 30,573 31,335 32,228 33,031 33,972
Materials and services 33,179 34,008 34,859 35,730 36,623 37,447 38,290 39,151 40,032 40,933
Finance costs 2,525 2,453 2,279 2,099 1,909 1,710 1,491 1,262 1,018 760
Depreciation and amortisation 17,523 17,952 18,242 18,507 18,774 19,071 19,346 19,532 19,734 19,736
Other expenses 4,674 4,791 4,910 5,033 5,159 5,275 5,394 5,515 5,639 5,766
Total recurrent expenses 85,644 86,711 88,484 90,370 92,191 94,076 95,856 97,688 99,455 101,167
Net result 5,074 3,059 5,976 9,880 10,857 11,752 12,711 13,720 14,874 16,186
Operating result
Recurrent revenue 85,702 88,270 90,961 93,750 96,548 99,328 102,067 104,907 107,829 110,853
Recurrent expenses 85,644 86,711 88,484 90,370 92,191 94,076 95,856 97,688 99,455 101,167
Operating result 59 1,559 2,476 3,380 4,357 5,252 6,211 7,220 8,374 9,686
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Section 2
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Waste Holiday
Annual Result - Business Activities Management Parks
2015 2015
Statement of Comprehensive Income $,000 $,000
Income
Revenue
Recurrent revenue
Net rates, levies and charges 10,782 -
Fees and charges 1,641 2,724
Rental income - -
Interest received - -
Internal Sales/Recoveries (*) 268 -
Other income 337 16
Grants, subsidies, contributions and donations - -
Total revenue 13,028 2,740
Expenses
Recurrent expenses
Employee benefits 662 41
Materials and services 7,887 1,233
Finance costs 3 -
Depreciation and amortisation 674 136
Internal Expenditure 1,102 426
Other expenses 743 1
Total expenses 10,328 1,836
Net result 2,700 903
(*) Internal Sales & Recoveries includes the payment of Community Service Obligations, as follows:
Waste Management ($,000)
Free/subsidised disposal of waste by residents $64
RSPCA holding tank collection $8
2
Section 3
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Annual Result Budget Forecast
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Statement of Financial Position $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Assets
Current assets
Cash and cash equivalents 33,794 32,879 32,685 34,795 36,797 39,910 44,030 48,361 53,618 59,255
Trade and other receivables 11,626 11,942 12,333 12,702 13,081 13,402 13,807 14,184 14,572 14,929
Inventories 101 101 101 101 101 101 101 101 101 101
Total current assets 45,521 44,922 45,119 47,598 49,979 53,414 57,938 62,647 68,292 74,285
Non-current assets
Investments 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978
Property, plant & equipment 962,724 987,118 1,014,722 1,044,460 1,075,669 1,106,573 1,138,045 1,170,611 1,203,916 1,238,361
Other non-current assets 2,928 3,399 3,090 2,595 2,065 2,049 1,718 1,463 1,038 774
Total non-current assets 1,026,630 1,051,495 1,078,790 1,108,033 1,138,713 1,169,600 1,200,742 1,233,052 1,265,933 1,300,113
Total assets 1,072,151 1,096,417 1,123,909 1,155,631 1,188,692 1,223,014 1,258,680 1,295,699 1,334,225 1,374,398
Liabilities
Current liabilities
Trade and other payables 4,161 4,252 4,370 4,483 4,594 4,691 4,812 4,927 5,041 5,147
Borrowings 2,802 2,976 3,156 3,346 3,545 3,764 3,993 4,237 4,495 4,772
Provisions 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023
Total current liabilities 7,986 8,252 8,549 8,852 9,162 9,478 9,828 10,187 10,559 10,942
Non-current liabilities
Borrowings 35,976 33,000 29,844 26,498 22,953 19,189 15,195 10,959 6,464 1,691
Provisions 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747
Total non-current liabilities 38,723 35,747 32,591 29,245 25,700 21,936 17,942 13,706 9,211 4,439
Total liabilities 46,709 43,999 41,140 38,097 34,862 31,414 27,771 23,893 19,769 15,381
Net community assets 1,025,442 1,052,418 1,082,769 1,117,534 1,153,830 1,191,600 1,230,909 1,271,806 1,314,455 1,359,017
Community equity
Asset revaluation surplus 204,624 228,542 252,916 277,802 303,240 329,259 355,857 383,034 410,809 439,185
Retained surplus 820,818 823,876 829,853 839,732 850,589 862,341 875,052 888,772 903,646 919,832
Total community equity 1,025,442 1,052,418 1,082,769 1,117,534 1,153,829 1,191,600 1,230,909 1,271,806 1,314,455 1,359,017
3
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Annual Result Budget | Forecast
2015 2016 2017 2018 2019 2020 2021 yA) yA} PAL.
Statement of Financial Position $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Assets
Current assets
Cash and cash equivalents 33,794 32,879 32,685 34,795 36,797 39,910 44,030 48,361 53,618 59,255
Trade and other receivables 11,626 11,942 12,333 12,702 13,081 13,402 13,807 14,184 14,572 14,929
Inventories 101 101 101 101 101 101 101 101 101 101
Total current assets 45,521 44,922 45,119 47,598 49,979 53,414 57,938 62,647 68,292 74,285
Non-current assets
Investments 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978 60,978
Property, plant & equipment 962,724 987,118 1,014,722 1,044,460 1,075,669 1,106,573 1,138,045 1,170,611 1,203,916 1,238,361
Other non-current assets 2,928 3,399 3,090 2,595 2,065 2,049 1,718 1,463 1,038 774
Total non-current assets 1,026,630 1,051,495 1,078,790 1,108,033 1,138,713 1,169,600 1,200,742 1,233,052 1,265,933 1,300,113
Total assets 1,072,151 1,096,417 1,123,909 1,155,631 1,188,692 1,223,014 1,258,680 1,295,699 1,334,225 1,374,398
Liabilities
Current liabilities
Trade and other payables 4,161 4,252 4,370 4,483 4,594 4,691 4,812 4,927 5,041 5,147
Borrowings 2,802 2,976 3,156 3,346 3,545 3,764 3,993 4,237 4,495 4,772
Provisions 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023 1,023
Total current liabilities 7,986 8,252 8,549 8,852 9,162 9,478 9,828 10,187 10,559 10,942
Non-current liabilities
Borrowings 35,976 33,000 29,844 26,498 22,953 19,189 15,195 10,959 6,464 1,691
Provisions 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747 2,747
Total non-current liabilities 38,723 35,747 32,591 29,245 25,700 21,936 17,942 13,706 9,211 4,439
Total liabilities 46,709 43,999 41,140 38,097 34,862 31,414 27,771 23,893 19,769 15,381
Net community assets 1,025,442 1,052,418 1,082,769 1,117,534 1,153,830 1,191,600 1,230,909 1,271,806 1,314,455 1,359,017
Community equity
Asset revaluation surplus 204,624 228,542 252,916 277,802 303,240 329,259 355,857 383,034 410,809 439,185
Retained surplus 820,818 823,876 829,853 839,732 850,589 862,341 875,052 888,772 903,646 919,832
Total community equity 1,025,442 1,052,418 1,082,769 1,117,534 1,153,829 1,191,600 1,230,909 1,271,806 1,314,455 1,359,017
3Section 4
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Annual Result Budget Forecast
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Statement of Cash Flows $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Cash flows from operating activities
Receipts from customers 66,362 73,829 75,994 78,319 80,680 82,968 85,181 87,561 89,969 92,482
Payments to suppliers and employees (62,750) (66,457) (68,088) (69,893) (71,638) (73,440) (75,140) (77,021) (78,831) (80,806)
Dividend received 2,841 2,912 2,984 3,059 3,136 3,206 3,278 3,352 3,427 3,504
Interest received 4,467 4,629 4,845 5,087 5,264 5,581 5,792 6,037 6,294 6,582
Rental income 1,067 1,139 1,167 1,197 1,227 1,255 1,283 1,312 1,341 1,372
Non-capital grants and contributions 5,101 5,445 5,579 5,719 5,862 5,997 6,129 6,268 6,409 6,555
Borrowing costs (2,235) (2,211) (2,037) (1,857) (1,667) (1,468) (1,249) (1,020) (776) (518)
Net cash inflow from operating activities 14,853 19,287 20,445 21,630 22,863 24,099 25,274 26,489 27,834 29,171
Cash flows from investing activities
Payments for property, plant and equipment (21,884) (18,032) (20,932) (22,765) (23,915) (23,290) (23,540) (24,315) (24,740) (25,440)
Payments for intangible assets (790) (867) (230) (100) (100) (650) (350) (350) (100) (100)
Proceeds from sale of property, plant and equipment 427 - - - - - - - - -
Grants, subsidies, contributions and donations 4,588 1,500 3,500 6,500 6,500 6,500 6,500 6,500 6,500 6,500
Other cash flows from investing activities (2,230) - - - - - - - - -
Net cash inflow from investing activities (19,890) (17,399) (17,662) (16,365) (17,515) (17,440) (17,390) (18,165) (18,340) (19,040)
Cash flows from financing activities
Proceeds from borrowings 794 - - - - - - - - -
Repayment of borrowings (2,626) (2,802) (2,976) (3,156) (3,346) (3,545) (3,764) (3,993) (4,237) (4,495)
Net cash inflow from financing activities (1,832) (2,802) (2,976) (3,156) (3,346) (3,545) (3,764) (3,993) (4,237) (4,495)
Total cash flows
Net increase in cash and cash equivalent held (6,869) (915) (194) 2,110 2,002 3,114 4,120 4,331 5,257 5,636
Opening cash and cash equivalents 40,662 33,794 32,879 32,685 34,795 36,797 39,910 44,030 48,361 53,618
Closing cash and cash equivalents 33,794 32,879 32,685 34,795 36,797 39,910 44,030 48,361 53,618 59,255
4
Section 5
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Annual Result Budget Forecast
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Statement of Changes in Equity $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Asset revaluation reserve
Opening balance 181,256 204,624 228,542 252,916 277,802 303,240 329,259 355,857 383,034 410,809
Net result na na na na na na na na na na
Increase in asset revaluation surplus 23,368 23,918 24,374 24,885 25,438 26,019 26,598 27,177 27,775 28,376
Internal payments made na na na na na na na na na na
Internal payments received na na na na na na na na na na
Closing balance 204,624 228,542 252,916 277,802 303,240 329,259 355,857 383,034 410,809 439,185
Retained surplus
Opening balance 815,744 820,818 823,876 829,853 839,732 850,589 862,341 875,052 888,772 903,646
Net result 5,074 3,059 5,976 9,880 10,857 11,752 12,711 13,720 14,874 16,186
Increase in asset revaluation surplus na na na na na na na na na na
Closing balance 820,818 823,876 829,853 839,732 850,589 862,341 875,052 888,772 903,646 919,832
Total
Opening balance 997,000 1,025,442 1,052,418 1,082,769 1,117,534 1,153,829 1,191,600 1,230,909 1,271,806 1,314,455
Net result 5,074 3,059 5,976 9,880 10,857 11,752 12,711 13,720 14,874 16,186
Increase in asset revaluation surplus 23,368 23,918 24,374 24,885 25,438 26,019 26,598 27,177 27,775 28,376
Closing balance 1,025,442 1,052,418 1,082,769 1,117,534 1,153,829 1,191,600 1,230,909 1,271,806 1,314,455 1,359,017
5
Section 6
Noosa Shire Council
2014/15 Budget Statements
For the period ending 30 June
Annual Result Budget Forecast
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Financial Sustainability Ratios $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Operating Surplus Ratio 0.1% 1.8% 2.7% 3.6% 4.5% 5.3% 6.1% 6.9% 7.8% 8.7%
Net Financial Liabilities Ratio 1.4% -1.0% -4.4% -10.1% -15.7% -22.1% -29.6% -36.9% -45.0% -53.1%
Asset Sustainability Ratio 100.0% 96.9% 102.9% 99.1% 104.2% 99.2% 99.2% 102.0% 102.7% 105.4%
Operating Surplus Ratio
Measures the extent to which revenues raised cover operational expenses
only or are available for capital funding purposes or other purposes.
Calculation: Net result divided by total operating revenue, expressed as a %.
Target: between 0% and 10%
Net Financial Liabilities Ratio
Measures the extent to which the net financial liabilities of Council can
be repaid from operating revenues.
Calculation: (total liabilities less current assets) divided by
total operating revenue, expressed as a %.
Target: not greater than 60%.
Asset Sustainability Ratio
This ratio reflects the extent to which the infrastructure assets managed by Council
are being replaced as they reach the end of their useful lives.
Calculation: capital expenditure on the replacement of infrastructure assets
(renewals) divided by depreciation expense, expressed as a %.
Target: greater than 90%.
6