2018-09-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                    17 SEPTEMBER 2018


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 17 September 2018 outlining August 2018 year to date financial performance
against budget.


REPORT
Operating Revenue (YTD Benchmark 16.7%)
Council has received 41% ($39.4 million) of its operating revenue budget ($95.7 million).
Commentary on each revenue category is provided below.

Category           Summary                          Comments
Rates and Levies   $33.2 million (50%) of the           Overall, rates and levies earned are in line with
                   annual budget of $66.6                 budget expectations
                   million has been earned
Fees and           $1.8 million (32%) of the $5.5       Building application and search fees $45k
Charges            million annual budget has              above YTD budget (25% or $135k of $533k
                   been earned                            budget earned)
                                                        Local laws parking infringements $47k above
                                                          YTD budget (24% or $164k of $670k budget
                                                          earned)
                                                        Development related fees $44k above YTD
                                                          budget (21% or $234k of $1.1m budget
                                                          earned)
                                                        Cemetery fees $23k above YTD budget (27%
                                                          or $60k of $221k budget earned)
                                                        Community land use applications and permits
                                                          $22k below YTD budget (29% or $107k of
                                                          $375k budget earned)
Sale of Goods      $1.5 million (17%) of the $8.7       Holiday parks $65k above YTD budget (17% or
and Services       million budget has been                $509k of $2.9m budget earned)
                   received                             Noosa Aquatic Centre $37k above YTD budget
                                                          (15% or $253k of the $1.7m budget earned)
                                                        Eumundi Landfill disposal charges $34k above
                                                          YTD budget (17% or $493k of $2.9m budget
                                                          earned)
Interest           $1.0 million (24%) of the $4.3       Investment revenue $93k above YTD budget
Received           million annual budget has              (25% or $301k of $1.25m budget earned)
                   been earned
Dividend and       On track                         Nil
Tax
Other Revenue      $526k (22%) of the $2.4              Civil operations internal recoveries for works
                   million budget has been                and quarry material $208k (no budget)
                   earned                               Lease management income for commercial
                                                          properties $22k below YTD budget (14% or
                                                          $134k of $946k budget earned)
Operating          $1.1 million (21%) of the $5.2       Operating grants are in line with budget
Grants,            million budget has been                expectations at this stage.
Subsidies          received                             50% or $1 million of the financial assistance
                                                          grant was again prepaid in June 2018 and may
                                                          impact on Council’s 2018/19 final operating
                                                          position if the prepayment approach is
                                                          discontinued by the Australian government.

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