2017-06-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                 12 JUNE 2017


RECOMMENDATION
That Council note the report by the Director Corporate Services to the General Committee
Meeting dated 12 June 2017 providing the May YTD monthly financial performance report for the
2016/17 financial year.


REPORT
Operating Revenue (YTD Benchmark 91.7% - 11 months)

Council has realised 98% ($89 million) of its operating revenue budget of $90 million as at the
end of May 2017. Commentary on each revenue category is provided below:
   Rates and Levies – $62.4m (100%) of the annual budget of $62.3m has been earned, with
     general rates received for the year above budget by $59k.
   Fees and Charges – Fees and charges earned ($5.2m) has exceeded the full year budget
     ($4.9m). Development related fees ($258k), local law infringements ($139k), land use
     permit fees ($80k), change of property ownership fees ($65k) and property search fees
     ($31k) all currently exceed YTD budget ($4.6m).
   Interest Received – Interest earned of $4m totals 91% of the full-year budget ($4.4m), with
     interest on invested funds currently $207k ahead of YTD budget; and interest on rate
     arrears $42k ahead of the YTD budget. It is expected that the positive variance against
     YTD budget ($250k) will hold with interest on Council’s Unitywater investment to be
     recognised in June.
   Dividend and Tax – Dividends and tax equivalent payments from Unitywater are in line with
     YTD budget.
   Other Revenue – Other revenue earned ($10.3m) has exceeded the full year budget
     ($10m). Holiday park fees ($212k), Civil Operations recovery from capital works ($200k),
     lease revenue ($151k), Noosa Aquatic Centre ($135k), waste landfill fees and recyclable
     sales ($130k), The J ($48k), local laws SPER fees ($40k), Noosa Leisure Centre activities
     ($30k), are all above YTD budget ($9.3m).
   Grants, Subsidies & Contributions –in line with YTD budget.

Figure 2: Operating Revenue Position by Type (Excluding Rates)
 $12.0

                YTD Budget ($m)
 $10.0
                YTD Actual ($m)
   $8.0

   $6.0

   $4.0

   $2.0

   $0.0
                                                          Other




                                                                     Grants
             Fees




                         Dividend




                                               Tax
                                    Interest




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