09 Financial Performance Report - Mar 2022

GENERAL COMMITTEE MEETING AGENDA                                                                              19 APRIL 2022


 Category              Summary                     Comments
                                                   • Noosa Aquatic Centre revenue $66k above YTD
                                                      budget (83% or $1.4 million of $1.7 million annual
                                                      budget earned)
 Interest              $580k (87%) of the          •       Interest revenues on cash invested will need ongoing
 Received              $670k annual budget                 monitoring to ensure returns on surplus funds are
                       has been earned                     maximised as investment rates begin to increase.
 Other Revenue         $2.2m (72%) of the          •       Waste bin sales below YTD budget $106k (28% or
                       $3.1 million annual                 $63k of $226k annual budget earned) – offset by lower
                       budget   has  been                  number of bin purchases
                       earned                      •       Holiday Park electricity recoupment below YTD budget
                                                           $88k. No revenue recouped due to delays in work to
                                                           install electricity meters, which will be complete by year
                                                           end
 Operating             $5.7 million (96%) of       •       $1.4m in Community resilience and disaster
 Grants,               the $5.9 million annual             management grants have been received in respect of
 Subsidies             budget     has    been              the recent flood event
                       received                    •       50% ($1.2 million) of the financial assistance grant was
                                                           again prepaid in June 2021 and may impact on
                                                           Council’s 2021/22 final operating position if the
                                                           prepayment approach is discontinued by the
                                                           Australian government.
 Unitywater            On track                    •       Unitywater distributions are fixed each year so little
 Distributions                                             budget variance risk


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

 $12.0

                                            $9.6                       YTD Budget ($m)
 $10.0
                                     $8.4                              YTD Actual ($m)
  $8.0
                $7.1
         $6.4
                                                                                       $5.7
  $6.0
                                                                                $4.2
  $4.0                                                                                        $3.1 $3.1

  $2.0                                             $1.5 $1.5
                       $0.5 $0.6                                   $0.8 $0.8

  $0.0
             Charges




                                                                      Other
                                                       Income




                                                                                   Grants
                                      Goods &




                                                                                                 Unitywater
                                      Services
                                      Sales of




                                                        Rental
                          Interest
             Fees &




                                                                                                  Share of




Operating Expenditure (YTD Benchmark 75%)
Actual operating expenditure is currently 71% ($77.8 million) of full year budget ($110.1 million).
Detailed commentary for each expenditure category is provided below.