2016-02-08 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                              8 FEBRUARY 2016


Key elements include:

    Fees and charges – minor changes reflect increased activity levels beyond what was
      originally proposed for development and building areas.
    Grants and subsidies – operating – recognition of additional grant revenue received (offset
      by expenditure) for Noosa Community Support, library programs, disaster recovery and
      community development.
    Other recurrent income – minor adjustments based on actual performance from the second
      quarter.
    Employee benefits – reallocations between cost centres to move budgets to where
      operational activities are occurring; and minor adjustments to forecast based on actual
      performance from the first and second quarter.
    Materials and services – additional expenditure to reflect grants and Council resolutions
      since adoption of the original budget. Significant changes relate to the $360k contribution
      for environmental grants through Noosa Biosphere Reserve Foundation Ltd; and $150k for
      specialised external assistance to undertake condition assessments for Council buildings
      that will inform future asset maintenance and renewal budgets.

2.    Capital Works Program Adjustments

There have been a number of adjustments to the capital works program to reflect recent Council
resolutions and variations across different programs. Details for changes to each program are
outlined in the Attachments. The total program has increased to $35.6 million, with the most
significant change being to account for the strategic acquisition of environmental land, which was
subject to a separate report to Council in November. The majority of adjustments relate to the
reallocation of funding from the emergent renewals provision to specific capital projects, and to
also recognise Council’s co-contribution towards state government grants received for pathway
and cycleway upgrades.

Previous Council Consideration

The budget was amended in November 2015 to account for adjustments identified from the
September quarter.

Finance & Risk

There has been a reduction to the operating result of the proposed budget review, but overall
Council is still forecasting a surplus of $882k.

Apart from the purchase of environmental land, which was funded from the Environment Levy,
changes to the capital program are largely funded through the rescheduling of projects, additional
grant revenue received, and redirection from the Emergent Works allocation. Capital program
changes do not impact the operating position, though the forecast cash position is marginally
reduced.

All financial sustainability ratios remain within (or exceed) target ranges, as outlined in the
attached Budget Financial Statements.


Consultation

External Consultation - Community & Stakeholder

Nil



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