2015-01-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                             12 January 2015


Detailed commentary for significant items appears below:

•            Rates – generally as per original forecasts, although some minor alterations to the general
             rates budget will be considered as part of the December quarter review to accommodate
             changes in accounting treatment for prepaid rates and expected property growth.
•            Fees and Charges – development related activity, parking fines and search fees remain
             ahead of forecasts, but this is offset by minor lags in some other fee lines. All areas will be
             subject to review and possible adjustments to budgets in the next review. It is noted that
             the receipt of a significant development application in December has skewed fee revenue
             for the month against budget.
•            Interest Received – remains ahead of forecasts due to higher levels of cash available for
             investment (will be revised as part of the December quarter budget review).
•            Grants and Subsidies – will continue to be monitored with further changes possible as part
             of the next quarterly budget review.
•            Other Revenue – generally in accordance with budget predictions, with sale of recyclables
             showing favourable variances (some areas of variance have been included with the
             September quarter budget review).

3.           Operating Expenses

Operating expenditure is generally below forecast levels and shows an accumulated favourable
variance of $596k.

             12,000                                                                                 120,000

             10,000                                                                                 100,000

              8,000                                                                                 80,000
     $,000




              6,000                                                                                 60,000

              4,000                                                                                 40,000

              2,000                                                                                 20,000

                 0                                                                                  0
                      Jul   Aug   Sep   Oct   Nov     Dec   Jan   Feb    Mar    Apr   May    Jun

                       Budget        Actual         Accum Budget (RHS)         Accum Actual (RHS)


Detailed commentary for significant items appears below:

•            Employee Costs – YTD actuals are slightly above budgeted figures primarily as a result of
             the recognition payment made to staff during the month, with variances to be considered
             with the December quarter budget review.
•            Materials and Services – contract services are behind budgeted levels, and will continue to
             be monitored for possible review with the December quarter review.
•            Finance Costs – generally in accordance with budget, although the actual interest rate on
             2013/14 borrowings was less than originally forecast and adjustments will be considered as
             part of the December quarter budget review.




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