2018-10-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       15 OCTOBER 2018


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 15 October 2018 outlining September 2018 year to date financial performance
against budget.


REPORT
Operating Revenue (YTD Benchmark 25.0%)
Council has received 43% ($41.4 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           $2.2 million (40%) of the $5.5       Development related fees $111k above YTD
Charges            million annual budget has              budget (36% or $395k of $1.1m budget earned)
                   been earned                          Building application and search fees $66k above
                                                          YTD budget (37% or $199k of $533k budget
                                                          earned)
                                                        Local laws parking infringements $27k above
                                                          YTD budget (29% or $198k of $670k budget
                                                          earned)
                                                        Cemetery fees $26k above YTD budget (36% or
                                                          $81k of $221k budget earned)
Sale of Goods      $2.4 million (27%) of the $8.7       Eumundi Landfill disposal charges $143k above
and Services       million budget has been                YTD budget (29% or $842k of $2.9m budget
                   received                               earned)
                                                        Holiday parks $97k above YTD budget (27% or
                                                          $797k of $2.9m budget earned)
                                                        Noosa Aquatic Centre $40k above YTD budget
                                                          (22% or $392k of the $1.7m budget earned)
Interest           $1.2 million (28%) of the $4.3       Investment revenue $138k above YTD budget
Received           million annual budget has              (36% or $451k of $1.25m budget earned)
                   been earned                          Interest on overdue rates and charges $17k
                                                          above YTD budget (29% of $117k of $400k
                                                          budget earned)
Dividend and       On track                         Nil
Tax
Other Revenue      $776k (33%) of the $2.4              Civil operations internal recoveries for works and
                   million budget has been                quarry material $328k (no budget)
                   earned                               Waste Management internal recoveries for
                                                          landfill disposal $18k above YTD budget (115%
                                                          or $23k of $20k budget earned)
Operating          $1.2 million (23%) 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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