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2020-12-14 General Committee Agenda
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AGENDA
General Committee
Meeting
Monday, 14 December 2020
commencing at 10am
Council Chambers, 9 Pelican Street, Tewantin
Committee: Crs Frank Wilkie (Chair), Karen Finzel, Joe Jurisevic, Amelia
Lorentson, Clare Stewart, Brian Stockwell, Tom Wegener
“Noosa Shire – different by nature”
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Section 2
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
TABLE OF CONTENTS
ITEM PAGE
1 ATTENDANCE & APOLOGIES 3
2 CONFIRMATION OF MINUTES 3
3 PRESENTATIONS 3
4 DEPUTATIONS 3
5 ITEMS REFERRED FROM COMMITTEES 3
1 MCU19/0001 DEVELOPMENT APPLICATION FOR MATERIAL CHANGE OF
USE FOR COMMERCIAL BUSINESS TYPE 1- OFFICE, MULTIPLE HOUSING
TYPE 4 CONVENTIONAL AND RETAIL BUSINESS TYPE 2 - SHOP & SALON
AT 6-10 DIAMOND STREET, COOROY 3
2 MCU20/0090 DEVELOPMENT APPLICATION FOR A MATERIAL CHANGE
OF USE FOR AN EXTENSION TO SHOP/HIRE AND STORAGE BUILDING
AT JETTY 256 GYMPIE TERRACE, NOOSAVILLE 3
3 DEBT REFINANCING INVESTIGATION 3
6 REPORTS DIRECT TO GENERAL COMMITTEE 4
4 TOURISM NOOSA EXEMPTION REQUEST FOR THE PROVISION OF
ALCOHOL FOR TEMPORARY EVENTS DURING COVID-19 PANDEMIC 4
5 FINANCIAL PERFORMANCE REPORT – NOVEMBER 2020 8
6 BUDGET REVIEW 2 (BR2) 22
7 CLOSED SESSION 38
Page 2 of 38
Section 3
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
1 ATTENDANCE & APOLOGIES
2 CONFIRMATION OF MINUTES
The Minutes of the General Committee Meeting held on 16 November 2020 be received and
confirmed.
3 PRESENTATIONS
Nil.
4 DEPUTATIONS
Nil.
5 ITEMS REFERRED FROM COMMITTEES
PLANNING & ENVIRONMENT COMMITTEE
1 MCU19/0001 DEVELOPMENT APPLICATION FOR MATERIAL CHANGE OF USE
FOR COMMERCIAL BUSINESS TYPE 1- OFFICE, MULTIPLE HOUSING TYPE 4
CONVENTIONAL AND RETAIL BUSINESS TYPE 2 - SHOP & SALON AT 6-10
DIAMOND STREET, COOROY
(Planning & Environment Committee Agenda, 8 December 2020, Item 1, Page 4)
Reason for referral – Significance of the issue
2 MCU20/0090 DEVELOPMENT APPLICATION FOR A MATERIAL CHANGE OF USE
FOR AN EXTENSION TO SHOP/HIRE AND STORAGE BUILDING AT JETTY 256
GYMPIE TERRACE, NOOSAVILLE
(Planning & Environment Committee Agenda, 8 December 2020, Item 2, Page 29)
Reason for referral – Significance of the issue
SERVICES & ORGANISATION COMMITTEE
3 DEBT REFINANCING INVESTIGATION
(Services & Organisation Committee Agenda, 8 December 2020, Item 2, Page 8)
Reason for referral – Significance of the issue
Page 3 of 38
Section 4
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
6 REPORTS DIRECT TO GENERAL COMMITTEE
4 TOURISM NOOSA EXEMPTION REQUEST FOR THE PROVISION OF ALCOHOL
FOR TEMPORARY EVENTS DURING COVID-19 PANDEMIC
Author Property Manager, Clint Irwin
Corporate Services Department
Index ECM/ 34.60 Licences/Permits/Registrations
Attachments Nil
EXECUTIVE SUMMARY
Not applicable.
RECOMMENDATION
That Council note the report by the Property Manager to the General Committee Meeting
dated 14 December 2020 and
A. Approve Tourism Noosa’s exemption request for the provision of alcohol at the Eat &
Drink / Youngcare Long Lunch event and the Eat & Drink Sumptuous High Tea Soiree
event; and
B. Authorise the CEO to assess both temporary event applications once each application
is properly made and Council has received all the required information to undertake its
assessment in accordance with Council’s normal permit application and approval
process.
REPORT
The purpose of this report is to seek Council’s determination for an exemption request from
Tourism Noosa for the provision of alcohol for two temporary events on community land
during the COVID-19 pandemic environment.
1. Background
At Council’s Special Meeting on 31 August 2020, Council considered a report regarding
temporary event permit approvals during the COVID-19 pandemic. At that meeting Council
resolved that Council note the report by the Property Manager to the Special Meeting dated
31 August 2020 and:
A. Refuse Temporary Event permit applications for Category 1 events (greater than
10,000 people) and Category 2 events (not fewer than 500 or more than 10,000
people);
B. Agree to consider an update report regarding Category 1 and Category 2 events and
the broader events environment at Council’s February 2021 round of meetings;
C. Allow Category 3 events including markets with fewer than 500 people subject to
Council’s normal permit application assessment and approval process and the
following additional assessment criteria:
Satisfactory completion of a COVID Safe Event Checklist including a signed and
displayed Statement of Compliance;
Events to be focused towards Sunshine Coast participants only;
Page 4 of 38
Section 5
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
No provision of alcohol (not licensed) unless the applicant has sought an
exemption from Council and the exemption has been formally considered by
Council;
Consideration of the potential for the event to attract larger attendance numbers
than forecast;
Events that have capacity to implement controlled seating and allocated areas
will be preferred to those with uncontrolled movement of people, i.e. attendees
intermingling onsite; and
Current health advice from the State.
D. Approve the establishment of the COVID-19 Event Reference Group as outlined in the
report whose role will include but not be limited to:
1. Reviewing and making decisions regarding event application requests;
2. Reviewing Category 3 Event Decision Making Framework Assessment Criteria
as outlined in the report;
3. Developing a risk-based decision making framework to guide future event
approvals within the COVID-19 environment which will consider public health and
economic impact factors;
4. Monitoring the success or otherwise of COVID Safe event plans and procedures
both within the Shire and external to it.
5. Providing advice and analysis relating to the above to inform Council’s review in
February 2021; and
E. Authorise the CEO to review and amend membership of the COVID-19 Event
Reference Group as required.
2. Tourism Noosa Temporary Event Details
Council has received an exemption request from Tourism Noosa for the provision of
alcohol for the following events:
1. Tourism Noosa Eat & Drink / Youngcare Long Lunch – Noosa Woods – Friday 19
February 2021 – 11.00am-5.00pm – Attendance 300
2. Tourism Noosa Eat & Drink Sumptuous High Tea Soiree – Noosa Woods – Saturday
20 February 2021 – 11.00am-2.00pm – Attendance 150
General event details (for both events):
Signed Covid Safe Event Checklist & Statement of Compliance provided for each event
To be held on simultaneous days to allow practical use of the event infrastructure
Fenced outdoor event site restricting public access
Ticketed and seated experiences held during daylight hours within marquee/s with
limited attendance numbers
Security personnel on site at all times
Community liquor licence to be obtained in name of Tourism Noosa for each event
Youngcare Long Lunch
Fundraiser Long Lunch to raise funds for Youngcare charity
3 course long lunch with entertainment
Live auctions
Attendance by Youngcare ambassadors – Karl Stefanovic and Sylvia Jeffries
To be filmed by Channel 9
High Tea Event
Catered high tea event to provide additional event for Eat & Drink visitors
Page 5 of 38
Section 6
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Add value to destination visitation
DJ to provide entertainment
3. COVID-19 Event Reference Group Application Assessment
On 25 November 2020, Council’s COVID -19 Event Reference Group considered Tourism
Noosa’s exemption request for two temporary event applications in accordance with the
assessment criteria noted in Item C of the Special Meeting resolution (noted above).
The Reference Group considers both events to be of low risk and have no objection to either
event proceeding with alcohol given both temporary event applications satisfactorily address
the assessment criteria noted in Item C of the Special Meeting resolution.
4. Temporary Event Permit Application approval process
Council’s approval of an alcohol exemption request does not constitute a temporary event
permit approval. Once Council has received all the required information (a properly made
application) it will undertake its assessment process in accordance with Council’s normal
permit application and approval process.
Previous Council Consideration
Special Meeting Minutes, 31 August 2020, Item 1, Page 2
That Council note the report by the Property Manager to the Special Meeting dated 31 August
2020 and:
A. Refuse Temporary Event permit applications for Category 1 events (greater than
10,000 people) and Category 2 events (not fewer than 500 or more than 10,000
people);
B. Agree to consider an update report regarding Category 1 and Category 2 events and
the broader events environment at Council’s February 2021 round of meetings;
C. Allow Category 3 events including markets with fewer than 500 people subject to
Council’s normal permit application assessment and approval process and the
following additional assessment criteria:
Satisfactory completion of a COVID Safe Event Checklist including a signed and
displayed Statement of Compliance;
Events to be focused towards Sunshine Coast participants only;
No provision of alcohol (not licensed) unless the applicant has sought an
exemption from Council and the exemption has been formally considered by
Council;
Consideration of the potential for the event to attract larger attendance numbers
than forecast;
Events that have capacity to implement controlled seating and allocated areas
will be preferred to those with uncontrolled movement of people, i.e. attendees
intermingling onsite; and
Current health advice from the State.
D. Approve the establishment of the COVID-19 Event Reference Group as outlined in the
report whose role will include but not be limited to:
1. Reviewing and making decisions regarding event application requests;
2. Reviewing Category 3 Event Decision Making Framework Assessment Criteria
as outlined in the report;
3. Developing a risk-based decision making framework to guide future event
approvals within the COVID-19 environment which will consider public health and
economic impact factors;
Page 6 of 38
Section 7
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
4. Monitoring the success or otherwise of COVID Safe event plans and procedures
both within the Shire and external to it.
5. Providing advice and analysis relating to the above to inform Council’s review in
February 2021; and
E. Authorise the CEO to review and amend membership of the COVID-19 Event
Reference Group as required.
Finance
A temporary event commercial permit assessment fee will be applicable for both events as
per Council’s schedule of fees and charges.
Risks & Opportunities
Risks
The risk of event based COVID-19 transmission is not entirely eliminated.
Financial and reputational risk for businesses, Tourism Noosa and tourism if a COVID-
19 outbreak prompts lockdown measures.
There is still no available insurance coverage for COVID-19. Council’s defence of legal
claims will be funded by the ratepayer.
Opportunities
Allows a smaller style event to proceed.
The decision sends a signal to event organisers that Council is willing to support event
organisers who adapt to low risk event management.
Well managed events adhering to COVID Safe event practices and criteria noted above
present less risk to the community than larger style events.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
Director Corporate Services
Property Advisor
Property Officer
COVID–19 Event Reference Group
Departments/Sections Consulted:
Chief Executive Officer Community Services X Corporate Services
Executive Officer Director X Director
Executive Support Community Development Financial Services
Community Facilities ICT
Libraries & Galleries Procurement & Fleet
Local Law s X Property
Waste & Environmental Health Revenue Services
Executive Services Environment & Sustainable Development Infrastructure Services
Director Director Director
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 7 of 38
Section 8
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
5 FINANCIAL PERFORMANCE REPORT – NOVEMBER 2020
Author Manager Financial Services, Trent Grauf
Corporate Services Department
Index ECM/ Subject/ 22.09 – Monthly Financial Performance Report
Attachments 1. Statement of Income and Expenditure (Profit & Loss and
Capital)
2. Statement of Financial Position
3. Statement of Cash Flows
4. Summary of Materials and Services Expenditure
EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 30 November 2020
is positive, with operating revenues performing above forecast due to Council facilities and
business activity sales revenue outperforming COVID-19 budget assumptions. Budget
Review 2 (BR2), which is detailed in a separate report included in the December 2020
General Committee Agenda, includes a number of proposed budget adjustments which will
be incorporated into next month’s financial performance report.
YTD Financial Performance Summary
Budget Actual Variance Variance Status
$m $m $m %
Operating Revenue $44.1 $46.9 $2.8 6.4% On Track
Operating Expense $39.9 $39.5 $0.4 0.9% On Track
Operating Position $4.2 $7.4 $3.2 75.2%
Capital Revenue $3.7 $4.2 $0.5 14.0% On Track
Capital Expenditure $10.6 $10.7 -$0.1 -1.1% On Track
Financial statements including Statement of Income & Expenditure, Statement of Financial
Position (balance sheet), and Statement of Cash Flows are included as attachments for
information for Council.
Figure 1: Actual Performance Compared to Budget
$50
$46.9 YTD Budget ($m)
$44.1
$45
YTD Actual ($m) $39.9 $39.5
$40
$35
$30
$25
$20
$15
$10
$5
$-
Operating Revenue Operating Expenditure
Page 8 of 38
Section 9
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Council’s performance against key measures of financial sustainability have been
calculated as at November 2020. These indicators enable the reader to assess Council’s
success in managing its budget, cash and debt as well as undertaking sustainable asset
management. The table below contains a snapshot of a number of key measures, with full
detail included in the report.
YTD Measures of Financial Sustainability
Target Current Actual YTD
Budget
Operating Surplus Ratio 0-10% -2.3% 15.8% On Track
Net Financial Liabilities Ratio <60% -6.3% -23.0% On Track
Cash Cover Ratio 3 months 6.6 months 9.9 months On Track
Asset Sustainability Ratio > 90% 101.5% 40.3% On Track
RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 14 December 2020 outlining November 2020 year to date financial
performance against budget, including performance against key financial sustainability
indicators.
REPORT
Operating Revenue (YTD Benchmark 41.7%)
Council has received 49% ($46.9 million) of its operating revenue budget ($96.6 million).
Commentary on each revenue category is provided below.
Category Summary Comments
Rates and Levies $34.5 million (50%) of the Waste utility charges $364k above YTD
annual budget of $68.4 budget (53% or $6.5 million of $12.3
million has been earned million budget earned), due to recovery
of commercial collection services
previously impacted by the COVID-19
pandemic (partially offset by additional
contractor operating costs)
Fees and $3.2 million (48%) of the Building application fees $81k above
Charges $6.6 million annual budget YTD budget (54% or $361k of $667k
has been earned budget earned)
Plumbing application fees $74k above
YTD budget (54% or $453k of $1.0
million budget earned)
Development assessment fees $41k
above YTD budget (44% or $453k $1.6
million budget earned)
Sale of Goods $4.4 million (60%) of the Holiday Park sales $836k above YTD
and Services $7.3 million budget has budget (72% or $1.5 million of $1.6
been received million budget earned) – Parks have
reopened earlier than forecast following
COVID-19 pandemic closures. Any
positive revenue variances that hold
through the financial year will be partially
offset by additional variable operating
costs
Page 9 of 38
Section 10
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Category Summary Comments
Community Facilities (NAC, NLC and
The J) $605k above YTD budget (61% or
$890k of $1.5 million budget earned) –
Facilities have reopened earlier than
forecast following COVID-19 pandemic
closures. Any positive revenue variances
that hold through the financial year will
also be partially offset by additional
variable operating costs
Waste management disposal fees and
sale of recoverable materials $198k
above YTD budget (47% or $1.9 million
of $4.0 million budget earned)
Interest $348k (40%) of the $870k Interest revenues on cash invested will
Received annual budget has been need ongoing monitoring given further
earned recent interest rate cuts and impacts on
term deposit / cash fund rates
Unitywater On track Nil
Dividend and
Tax
Other Revenue $884k (45%) of the $2.0 Recoupment of Unitywater charges from
million budget has been lessees $80k above YTD budget - offset
earned by additional utility charge expenses
Operating $2.5 million (44%) of the Disaster resilience and recovery grant of
Grants, $5.8 million budget has $152k received for 2019 fire events (not
Subsidies been received budgeted)
50% ($1.2 million) of the financial
assistance grant was prepaid in May
2020 and may impact on Council’s
2020/21 final operating position if the
prepayment approach is discontinued by
the Australian government
All operating grants are in line with
budget expectations at this stage
Unitywater On track Unitywater distributions are fixed each
Distributions year so there is little budget variance risk
Unitywater have advised that
distributions will not change due to any
COVID-19 impacts on its financial
position
Page 10 of 38
Section 11
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Figure 2: Operating Revenue Position by Type (Excluding Rates)
$5.0
$4.4 YTD Budget ($m)
$4.5
YTD Actual ($m)
$4.0
$3.5 $3.2
$3.0
$3.0 $2.7
$2.5
$2.5 $2.2
$2.0
$1.5 $1.1 $1.1
$1.0 $0.5
$0.3 $0.4
$0.5 $0.3 $0.3 $0.3
$0.0
Grants
Services
Unitywater
Charges
Income
Other
Goods &
Sales of
Rental
Interest
Fees &
Share of
Operating Expenditure (YTD Benchmark 41.7%)
Actual operating expenditure is currently 40% ($39.5 million) of full year budget ($98.8
million). Detailed commentary for each expenditure category is provided below.
Category Summary Comments
Employee Costs $14.2 million (41%) of the Under expenditure for permanent staff
annual budget of $34.8 salaries and wages ($1.2 million) partially
million has been offset by additional spend on casual staff
expended and external labour hire ($518k) as well as
overtime and allowances ($76k)
Materials and $16.7 million (39%) of the Works operations $66k below YTD budget
Services $43.3 million annual (28% or $937k of $3.3 million budget
budget has been spent) – pathways and bridges
expended. maintenance work
Parks and Landscapes $56k below YTD
budget (36% or $1.6 million of $4.6 million
budget spent) – due to timing of scheduled
mowing and reactive arborist work
anticipated to increase during the next few
months (storm season)
Holiday parks $170k above YTD budget
(61% or $522k of $861k budget spent) –
variable operating costs from parks
reopening earlier than budgeted following
COVID-19 pandemic related closures -
offset by additional revenues
Development application consulting and
legal costs $75k above YTD budget (78%
or $163k of $210k budget spent)
Finance Costs On track Nil
Depreciation On track Nil
Other Expenses On track Nil
Page 11 of 38
Section 12
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Figure 3: Operating Expenditure Position by Type
$18.0 $16.6 $16.7
$16.0 $14.6 $14.2
YTD Budget ($m)
$14.0
YTD Actual ($m)
$12.0
$10.0
$7.9 $7.9
$8.0
$6.0
$4.0
$2.0 $0.6 $0.6
$0.1 $0.1
$0.0
Finance Costs
Materials
Depreciation
Employees
Other
Capital Revenue
YTD capital revenue of $4.2 million received comprises cash contributions from developers
($591k) and capital grants ($3.6 million). Note that the timing of capital grant receipts are
generally dependent on the timing of grant conditions and also capital delivery
performance, and that the timing of the receipt of developer contributions (both cash and
contributed) is unpredictable.
Figure 4: Capital Revenue by Type
$4.0 $3.6
$3.5 $3.1
YTD Budget ($m)
$3.0
YTD Actual ($m)
$2.5
$2.0
$1.5
$1.0
$0.6 $0.6
$0.5
$0.0 $0.0
$0.0
Contributions
Subsidies
Contributed
Grants /
Assets
Cash
Capital Program
Actual capital expenditure (excluding commitments) is $10.7 million (YTD budget $10.6
million). Detailed discussion of progress in the delivery of the capital works program is
provided through a separate report by the Asset Planning Manager.
Page 12 of 38
Section 13
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Figure 5: Capital Program Delivery Performance
$9.0 $8.3 $8.4
$8.0
YTD Budget ($m)
$7.0 YTD Actual ($m)
$6.0
$5.0
$4.0
$3.0
$2.0
$1.1 $1.1 $1.2 $1.2
$1.0
$0.0
Capital works Other capital Loan redemption
Cash Management and Investment Performance
Total cash on hand at the end of November was $65 million. Included in this balance are
funds held in trust and for restricted purposes (e.g. unexpended levy and grant funds),
prepaid grants including the financial assistance grant and other capital works grants, the
July rates payments as well as any other monies committed for funding capital projec ts
which are underway and will continue during the financial year.
The following pie charts present the mix of cash held at November 2020 by agency (graph
on the left) and by credit risk rating (graph on the right). All funds have been invested in
accordance with the Investment Policy and in consideration of the principles of ethical
investment, preservation of capital, return on investment and counterparty thresholds.
Figure 6: Closing Cash Held by Agency and Credit Rating
CBA A1 +
5% (CBA + NAB +
Wpac)
5%
A1 +
QTC (QTC)
95% 95%
The following chart monitors the 12 month trend on total cash and the agencies invested.
Cash balances will decline between September and January as cash from the bi-annual
issue of rates and levies in July are utilised to fund Council operations.
Page 13 of 38
Section 14
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Figure 7: 12 Month Trend of Cash Invested by Agency
90,000,000
80,000,000
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
-
Dec-19 Jan-20 Feb-20 Mar-20 Apr -20 May-20 Jun-20 Jul-20 Aug -20 Sep -20 Oct-20 Nov-20
Bendigo TD Westpac TD NAB TD Suncorp TD CBA TD QTC CBA Operating
Borrowings
A debt restructure review has been undertaken with the Queensland Treasury Corporation
to assess options to optimise debt structure for Noosa Council, and generate long term
cash flow savings. The outcomes of this review have been reported to the December 2020
meeting round for consideration.
Measures of Financial Sustainability
The following table incorporates a set of financial sustainability indicators to further assist
in managing Council financial performance. There are no current emerging risks regarding
financial performance year to date.
Category Comments
Operating Surplus Ratio Intent: Identifies the
90% extent to which revenues
80% cover operational
70%
expenses, to ensure
60%
community equity is not
50%
degraded
40% Target: 0 – 10%
30% Result: 15.8%
20% Comment: The high ratio
10% reflects the levying of
0% rates in July, which is
-10% degrading as expenditure
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun occurs on operations
through to the next rate
Actu al Bud get Minimum Target
run in January 2021
Page 14 of 38
Section 15
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Category Comments
Cash Expense Cover Intent: Indicates how long
14.0 Council can continue
paying its day-to-day
Months (Cash to Cov er Operations)
12.0 expenses from cash at
10.0 bank without needing
additional cash flows
8.0
Target: > 3 months
6.0 Result: 10.7 months
4.0 Comment: Whilst current
cash cover remains above
2.0
target, business as usual
- expenditure and any other
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov unforeseen financial
Actu al Minimum ( >0 months) impacts through to 30
Target (3 mon ths) Maximu m (6 months) June 2021 will degrade
Council’s cash holdings.
Asset Sustainability Ratio Intent: Measures the
120 % extent to which assets are
101.5% being replaced as their
100 % condition degrades to
90% ensure service potential is
80% maintained
60%
Target: 90% of
depreciation budget spent
40% on renewals annually
Result: In line with budget
20%
Comment: The ratio will
0% progressively increase
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun each month as
expenditure on renewals
Actu al Ren ewal S pend (%) Target (%) Renewals Budge t (%)
occurs.
Net Financial Liabilities Ratio Intent: Outlines the level
that net Council debt can
70%
60% be serviced by operating
60% revenues. A ratio below
50% zero implies that liabilities
40% are less than cash (and
other current assets) and
30%
there is adequate
20% borrowing capacity
10% available if needed.
0% Target: less than 60%
-10%
Target Bud get YTD Actual Result: -23%
-20%
-6% Comment: Council has
low debt levels and strong
-30% -23%
cash holdings. The July
rates revenue and
prepayment of the
financial assistance grant
also inflates the YTD
actual outcome
Page 15 of 38
Section 16
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Category Comments
Investment Return Intent: Ensure
appropriate return on
investment yield for cash
at bank.
Target: 0.25% above
current Bloomberg
commonwealth 10 year
bond rate yield (0.11%)
Result: 0.52%
Comment: Regardless of
the current levels of low
long term bond and
interest rates (due to
current economic
conditions), Council’s
investment return still
remains above target
Rates in Arrears Intent: Ensuring that the
amount of unpaid rates
12.00%
remains sustainable and
Percentage of Annual Rates in Arrears
10.00% does not negatively
impact cash flows
8.00%
Target: 5% industry
benchmark
6.00%
Result: 6.0%
4.00%
Comment: Following
issue of reminder notices
2.00%
in September, rates
0.00% arrears have reduced and
Dec Jan Jan Feb Mar Apr May June July Aug Sep Oct is in line with performance
for the same period in
Actual Target
previous years.
Previous Council Consideration
Nil.
Finance
As above.
Risks & Opportunities
Council’s risk register includes a number of risks that could impact on ongoing financial
sustainability. Effective budget management and reporting is an important risk mitigation
tool.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.
Page 16 of 38
Section 17
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Departments/Sections Consulted:
X Chief Executive Officer X Community Services X Corporate Services
Executive Officer Director X Director
Executive Support Community Development X Financial Services
Community Facilities ICT
Libraries & Galleries Procurement & Fleet
Local Law s Property
Waste & Environmental Health Revenue Services
X Executive Services X Environment & Sustainable Development X Infrastructure Services
Director Director Director
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 17 of 38
Section 18
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 1
Page 18 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 1
Profit and Loss Statement
Revenue
Recurrent Revenue
Rates, levies and charges 68,383 34,124 4528 404 50%
Fees and charges 6.640 2,962 3,182 220 48%
Interest received 870 316 cd 3 40%
Sale of Goods and major services 7.281 2,704 4.381 1,656 6O%
Sale of contract and recoverable works 23 - 0 0 2%
Rental & lease income 1,197 429 539 110 45%
Other income Pra) 292 5 53 45%
Grants, subsidies, contributions and donations 5757 2,191 2.529 338 44%
Unitywater Distributions 5,650 1,080 1,080 - 19%
96,575 44,098 46,912 2,814 49%
Expenses
Recurrent Expenses
Employee benefits 4.806 14,508 14.166 432 41%
Materials and services 43.293 16,645 16,682 (47) 30%
Finance costs 1538 7 618 2 40%
Depreciation 18,063 7,901 7.815 (14) 42%
Other expenses 189 71 101 (30) 53%
98,789 33,863 39,492 371 40%
Operating Result RRS TAS
Summary of Capital Revenue and Expenditure
Capital Funding
Capital cash contributions and infrastructure charges 1521 501 581 - 30%
Contributed assets 2.000 10 10 - o%
Capital grants and subsidies 11.340 3,122 3,629 507 32%
Cash / revenue 19,001 6,863 7,622 758 40%
New loan borrowings 3,420 - - - 0%
Other capital revenue - - 12 12 0%
Total CapitalRevenue ROR OSB BR ee
Capital Expenditure
Contributed assets 2.000 10 10 - o%
Capital works - constructed assets 28,682 8,306 8413 108 20%
Capital works - other capital 4.176 1,063 1,071 8 26%
Loan redemption 2414 1,207 1,207 - 50%
Other ae ae - - 1,163 1,163 o%
Page 18 of 38Section 19
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 2
Page 19 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 2
Current Assets
Cash and cash equivalents 43,016 64.904 57,023
Trade and other receivables 9,085 5,581 5,440
inventories 198 171 181
Contract assets - 27 27
Other current assets 2.466 3.027 4,732
54.765 73.710 67,403
Non Current Assets held for sale - - -
Total Current Assets 54,765 73,710 67,403
Non Current Assets
Trade and other receivables 49,718 49,593 49,593
Other non current Assets - - -
Investments 83,342 88.040 88,040
Investment property 3,300 3,000 3,000
Right of use asset - 161 161
intangible assets 7.773 7.936 7,635
Total Non Current Assets 1,092,773 1,078,038 1,077,784
TotalAssets AT S38 TAB 8145187
Current Liabilities
Trade and other payables 6419 9.668 10,642
Contract liabilities - 1,568 1,568
Borrowings 3.116 1,613 3,023
Lease liabilities - baa 54
Provisions 4630 2.377 4,630
Other 2.778 2.168 1,561
Total Current Liabilities 16,943 17,448 21,478
Non Current Liabilities
Borrowings 19,637 18.493 18,493
Lease liabilities - 110 110
Provisions 12,054 15,399 15,307
Total Non Current Liabilities 31,691 34,002 33,910
Total Liabilities, a 5538
Community Equity
Asset Revaluation Surplus 85,293 86,525 86,525
Retained Surplus / (Defeciency) - - -
Shire Capital 1,013,612 1,003,273 902,284
Current Year Net “ty - 10,500 10,989
Page 19 of 38Section 20
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 3
Page 20 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 3
Cash flows from operating activities
Cash Flows from Operating Activities
Receipts from Customers 83,309 44,552 91,168
Payments to Suppliers and Employees (77,358) (34,247) (82,671)
5,951 10,306 8.497
Investment and Interest Revenue Received 3,470 903 3,937
Rental Income 1,199 539 1,003
Non Capital Grants and Contributions 5,752 2,528 5,315
Income Tax Equivalent Received 1,200 525 1,857
Income from Equity investments 1,850 - 1,396
Payments:
Borrowing Costs - - -
Interest Expense (1,126) (62) (143)
Net Cash Inflow/(Outflow) from Operating Activities === 18.296 TAO 21862
Cash Flows from Investing Activities
Proceeds of Sale of Property, Plant and Equipment - - 284
Grants, Subsidies, Contributions and Donations 12,861 4,220 8,640
Payments:
Payments of Property, Plant and Equipment (31,419) (8,628) (24,208)
Payments for Intangible Assets (1,449) (623) (1,710)
Net Movement in Loans and Advances - 125 125
‘Net Cash Inflow/(Outflow) from Investing Activities ==» (20.007) (4.977) 16.869)
Cash Flows from Financing Activities
Proceeds from Borrowings 3,420 - -
Payments:
Repayment of Borrowings (2,636) (1,881) (3,950)
Net Cash Inflowi(Outflow) from Financing Activities == 788 BBN) (8.950)
Net Increase/(Decrease} in Cash and Cash Equivalentsheld = (927) BZ 04D
Cash and Cash Equivalents at the beginning of the reporting period 43,042 57,023 55,981
‘Cash and Cash Equivalents at the end ofthe reportingperiod = 43.015 64.905) 57.023
Page 20 of 38Section 21
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 4
Page 21 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 4
Materials and services
Advertising and Marketing 187 62 42 (20) 22%
Administration Supplies and Consumables 683 241 220 (21) 32%
Audit Expenditure 160 2 1 (1) 0%
‘Communications and IT 678 240 187 (53) 28%
Commission Paid 605 254 426 172 70%
Consultancy Services 327 318 (9) 34%
Contract Services 20,798 7,504 7.647 53 37%
Contributions, Donations, Sponsorship and Prizes 3.387 1,576 1,550 (26) 48%
Electricity 1,639 606 714 7 44%
Intemal Fleet Costs and Extermal Plant Hire 1,615 606 744 137 48%
Grants Paid to Community Organisations 1547 734 774 (9) 50%
Insurance 600 597 (3) 95%
Legal Expenses 1,105 434 561 127 51%
Operating Leases and Rentals 256 118 125 7 49%
Software and Maintenance 2,003 723 731 8 36%
Subscriptions and Registrations 263 186 213 27 81%
Waste Levy Payments 1,185 478 503 25 42%
Water and Sewerage Charges 1,091 421 343 @7) 31%
All Other Materials and Services 43,293 16,645 16,692 47 39%
43,293 16,645 16,692 (47) 39%
Page 21 of 38Section 22
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
6 BUDGET REVIEW 2 (BR2)
Author Manager Financial Services, Trent Grauf
Corporate Services Department
Index ECM / Subject / 7.26 – 2020-2021 Budget
Attachments 1. Proposed Operating Budget Submissions
2. Proposed Capital Budget Submissions
3. Revised Capital Program
4. Revised Statement of Income and Expenditure
5. Revised Budget Financial Statements
EXECUTIVE SUMMARY
The Local Government Act 2009 and Local Government Regulation 2012 require Council to
undertake regular reviews of the adopted budget to ensure it remains reflective of planned
activities to be funded through the financial year. This second budget review for the 2020/21
financial year (BR2) incorporates any new or emergent actions arising from Council
resolution, Executive Team or Capital Works Executive Committee action, reallocation of
funds or realised revenue variance since the adoption of the current BR1 budget in August
2020.
In summary the budget review is proposing an increase of $744k to Council’s operating
position, resulting in the operating deficit increasing from $2.2 million to $3.0 million. This
increase is primarily due to the expending of committed fire grant funds already received in
the 2019/20 financial year. The revised capital expenditure program has also increased,
albeit slightly to $35.3 million.
Item Current Budget Proposed Revised Budget
(BR1) Adjustments (BR2)
($’000) ($’000) ($’000)
Operating Revenue 96,575 $383 96,958
Operating Expenditure 98,788 ($1,127) 99,915
Operating Result (2,213) ($744) (2,957)
Capital Grants and Contributions Revenue $11,340 $301 $11,642
Capital Works Expenditure $35,282 $110 $35,392
RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 14 December 2020 and approve the proposed changes to the budget for the
2020/21 financial year as outlined in the revised Budget Financial Statements attached to
the report.
REPORT
Section 170(3) of the Local Government Regulation 2012 allows Council, by resolution, to
amend the budget at any time before the end of the financial year. Consequently, formal
budget reviews are scheduled to occur during August, November and April using the latest
financial information available as the basis to revise the budget forecast.
The key criteria for budget reviews include:
1. Council must ensure compliance with its financial sustainability policy targets. Note for
the 2020/21 adopted budget, one indicator will not be met due to COVID-19 impacts.
Page 22 of 38
Section 23
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
2. The eligible capital or operating projects must be delivery-ready with a commitment to
complete the project during the year.
3. Capital submissions will be reviewed and authorised by the Executive Team before
inclusion as a budget review submission, where the group will consider justification for
the request, deliverability as well as organisational and community priorities before
endorsing any capital works.
4. All operating and capital submissions for additional spend, reallocation of savings or
additional revenue will be confirmed by the Executive Team based on business risk
assessment.
The revised statement of comprehensive income, included as Attachment 4, identifies the
financial statement line items that have been affected by the proposed budget adjustments.
The budget financial statements, included in Attachment 5, also identify the impact of the
proposed budget adjustments to Council’s financial sustainability indicators.
3. Proposed Operating Budget Adjustments
The proposed operational budget adjustments will result in a $744k increase to the operating
deficit. The following table summarises the operational carryovers by type of funding, with a
detailed list contained in Attachment 1. The financial statements in Attachments 4 and 5
outline the revised budget position as a result of these proposed adjustments.
Type Submissions Revenue Expense
($’000) ($’000)
Grant Funded 8 $358 $1,127
General Revenue and Reserve Funded 1 $25 $-
Total 9 $383 $1,127
4. Proposed Capital Budget Adjustments
A total of 17 budget review submissions were received for capital works, with a proposed
increase of $110k to the 2020/21 capital works program. All capital submissions have been
reviewed by the Capital Works Executive.
The table below summarises the budget submissions by program and categorised as:
Emergent Works: Initiation of new capital works item which have arisen since BR1.
Variation: Acceptance of tender, change in scope or reallocation of funds.
Grant / Levy Funded: Initiation of works funded through successful grant application
or utilisation of constrained reserves set aside for that purpose.
Timing Adjustment: Commencement of construction has been delayed and works will
straddle two financial years into 2021/22.
The full list of submissions is contained in Attachment 2.
Program Emergent Variation Grants / Timing Total
Levies of Works
Capital Works
Bridges $110 $170 $280
Coastal Canals and Waterways $110 ($190) ($80)
Community Facilities $135 $20 $155
Parks & Playgrounds ($5) ($5)
Pathways & Boardwalks $225 $225
Stormwater Drainage ($560) ($560)
Page 23 of 38
Section 24
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Program Emergent Variation Grants / Timing Total
Levies of Works
Capital Works
Transport and Infrastructure $70 $70
Management
Other Works
Fleet - Plant Replacement ($110) ($110)
Asset Management $135 $135
Grand Total $355 ($45) $550 ($750) $110
The following table summarises the proposed revised 2020/21 capital budget.
Total Capital Budget Amount
($'000)
Original Budget $27,037
BR1 Adjustments $8,245
Current Capital Expenditure Budget $35,282
Proposed BR2 Adjustments $110
Revised BR2 Capital Expenditure Budget $35,392
The following table summarises the proposed revised 2020/21 capital budget by program,
with the full program contained in Attachment 3.
Program 2020/21 Adjustments Proposed
Current BR2 Total
Budget Budget
Capital Works
Bridges $4,919 $280 $5,199
Coastal Canals and Waterways $300 ($80)- $220
Community Facilities $6,019 $155 $6,174
Gravel Road Network $410 - $410
Holiday Parks $410 - $410
Libraries & Galleries $925 - $925
Parks & Playgrounds $1,140 ($5) $1,135
Pathways & Boardwalks $1,663 $225 $1,888
Public Amenities $220 - $220
Public Transport Infrastructure $250 - $250
Sealed Roads Network $4,507 - $4,507
Stormwater Drainage $1,825 ($560) $1,265
Transport and Infrastructure Management $2,141 $70 $2,211
Waste Management $3,653 - $3,653
Other Works
Fleet - Plant Replacement $1,344 ($110) $1,234
Asset Management $3,797 $135 $3,931
Information Technology $713 - $713
Planning Scheme $736 - $736
Grand Total $35,282 $110 $35,392
Previous Council Consideration
The 2020/21 original budget was adopted by Council resolution on 10 July 2020 (Ref. Special
Meeting Minutes, 10 July 2020, Item 3, Page 3).
The 2020/21 budget review 1 (BR1) was adopted by Council resolution on 20 August 2020
(Ref. Ordinary Meeting Minutes, 20 August 2020, Item 6, Page 10).
Page 24 of 38
Section 25
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Finance
The financial sustainability ratios for asset sustainability and net financial liabilities are
forecast to meet the benchmark targets under the revised BR2 budget for 2020/21; however
the operating surplus ratio will continue to fall below the target range.
Ratio Target Original Budget BR1 BR2
Operating Surplus 0 – 10% (1.9%) (2.3%) (3.0%)
Net Financial Liabilities < 60% (11.1%) (6.3%) (8.5%)
Asset Sustainability > 90% 87.5% 101.5% 100.1%
Risks & Opportunities
Risks
Council’s risk register includes a number of risks that could impact on ongoing financial
sustainability. Effective budget management and reporting is an important risk mitigation tool.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
Financial Services have been in contact with all Council branches. Directors of each
department have reviewed endorsed all submissions received. The Executive Team has also
reviewed and endorsed all submissions received.
Departments/Sections Consulted:
x Chief Executive Officer x Community Services x Corporate Services
Executive Officer Community Development x Financial Services
Executive Support Community Facilities ICT
Libraries & Galleries Procurement & Fleet
Local Law s Property
Waste & Environmental Health Revenue Services
x Executive Services x Environment & Sustainable Development x Infrastructure Services
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 25 of 38
Section 26
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 1
Page 26 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 1
Noosa Shire Council
2020/21 Budget Review 2 - Operating Submissions
tran Details tent ns Sn sy Ate |
GrantFunded Tf
Noosa Community Seniors Accessibility Assistance - new funding program accessed for 70,636 |- 70,636
Support Noosa Community Support
Tourism and Economic |Firetech Grant - additional funding for conference to be held at Digital 50,000 |- 50,000
Development Hub
Library Services Public Library Grant - increase to funding (CPI) for procuring library
resources
RADF RADF Grant - 2020/21 funding increase and carryover of unspent funds 26,000
from previous years
Trainees Skilling Queensland Trainee Grant Program - budget revised due to 6,329
delayed recruitment of trainees during COVID-19 pandemic (ICT,
Economic Development)
Disaster Recovery Disaster Recovery Funding (reimbursement) received post 2019 - 151,977 |- 151,977
Funding bushfires
Bushfire Recovery Grant Cat C - operating component of $1.275M grant 954,995 954,995
committed to be spent over 20/21 - 21/22
GrantFundedTotal [ —“‘“C;CS™SCOCOCOCOCOOOOCOCSC‘(‘(’NNN’N’NN’NWCCC LTE 4,926,770 [- 358,173 | 768,597 |
GeneralRateFunded [| C(‘“‘(‘“‘(‘Y
Buildings and Facilities |Recoupment of Unitywater charges from Noosa SLSC to date a ie ee
General Rate Funded Total Pf 25,.000 |- 25,000 |
Ate e:) aoe sie 383,173 re SRST
Page 26 of 38Section 27
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 2
Page 27 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 2
Noosa Shire Council
2020/21 Budget Review 2 - Capital Submissions
“Toalgedges ™t~<CS~s~‘“—~™S™~™~”””””TCC OR
“Total Community Facies OOD
Total Gravel Roe Netwot O
Wott Metin Pa
_ Vottal Libraries & Gathers
__Tewartn, Hilton Temace CNLGGP Stared Paty
“Ney Pam saredPatwmUsgme | aaa onlin Fintadlemeetigenemen
Total Pathways &Boedwaks AROS BBW
Total Poti Teaaport frestructue OO
__ Shite Reseal & Rehatsitaton Renewel Program Ammuml OUT
Page 27 of 38Section 28
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 28 of 38
cere cele Vimaa | 3
| , i, i | :
: a |
dsl cl tlic el lw |
da ea |
ate) x) HE hana Rts) Be) Bea
aT,
HT |;Section 29
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 3
Page 29 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 3
Noosa Shire Council
2020/21 Capital Budget Review 2 - Capital Program
Renewal Projects
tes i) Pe) Grants External Funds Loans LevyReserves General Rates ate
pe
__Coastal Canals and Waterways = Noosa Heads Dog Beach SEM 110,000) 110,000
__ Coastal Canals and Waterways Noosa Waters Revetment Wall 80,000 70,000 110,000
__Community Facilities = Community Facilities - Other Minor Works 5G) 57,500)
__Community Facilities = Cocoroy Lower Mill Site Shed- Remove and Replace Amenities O00 50,000
__Community Facilities Lifeguard Tower Renewal works 5,000
__Community Facilities NAC - Renewal Program 88435 13,435
__Community Facilities = == Pomona Memorial School of Arts Hall- Amenities Upgrade OO 45000808, 000
Community Facilities Shire Community Halls and Facilities Renewals 0 270,000
__Community Facilities = = Shire Electrical Distribution Board Renewals 0000 8,000) 120,000,
__Community Facilities 4 Tewantin - Building Renewal Works Tewantin Sports Complex 0000 150,000)
__Community Facilities The J Community Centre seating refurbishment: 00000 100,000
__Community Facilities | Tinbeerwath Hall Cladding and Roof refurbishment 80.000 150,000
__Community Facilities = NAC switchboard replacement 135,000) 135,000)
__ Gravel Road Network = Shire Gravel Resheeting- Annual Program 410,000) 410,000,
__ libraries & Gallenes Covravy Library Renewal of CCTV Cameras 25,000 25,000
__libraries & Gallenes Whole of Shire Mobile Library Service Solution 700,000) 700,000,
__Parks & Playgrounds Noosaville Pandorea Park Playground Renewal 5,000) 55,000,
__Parks & Playgrounds = Renewal of Noosa waters - Seagull Playground & Lake Macdonald Playground OOD 20,000 190,000,
__ Pathways & Boardwalks = Noosa Heads Main Beach Boardwalk LED Lighting Renewal 120,000 120,000
__ Pathways & Boardwalks Noosaville Wallace Park Pathways Renewal Stage 3&4 000 119,000,
__ Pathways & Boardwalks Shire Pathway Renewal Program 88 882,000,
__PublicAmenites = Public. amenities renewal and upgrade works 0 220,000
__ Public Transport Infrastructure Shire Bus Shelter Disabled Compliant Program: Year 778885) 250,000,
__ Sealed Roads Network Shire Reseal Program FB 2 570,000) 3,081,726,
__ Sealed Roads Network = Shire Sealed Road Network Rehabilitation and Reconstruction Priority 0/790, 000)
__ Stormwater Drainage = Noosaville Gympie Terrace Stormwater Renewals 40,000 40,000,
__StormwaterDrainage = Shire Bitoretention Basin Renewals Programa 721802, 10
__ Stormwater Drainage Sunrise Beach Sobraon Street Slope Stabilisstion 815,38
__ Transport and Infrastructure Management _ Shire Forward Planning & Design Program Construction ReadyDesigns PB 420,625) 500,000)
__Transport and Infrastructure Management _ Sunshine Beach Pacific Avenue Pathway. Pedestrian & Drainage 24 808) 24,608"
__ Transport and Infrastructure Management Tewantin Hilton Terrace & Emest St Intersection Upgrade Constructon, 985587
eke
__AssetManagement = Shire Road Infrastructure Asset Data Management & Condition Programs, 840,000) 340,000
Other Capital Total 000. 1849345 2 00345
Crrke ExTuR Py Pa pearwe eae
Page 29 of 38Section 30
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 30 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Noosa Shire Council
2020/21 Capital Budget Review 2 - Capital Program
Upgrade, New and Expansion Projects
te ey Grants External Funds Loans LevyReserves General Rates ae |
ee
__ Community Facilities = Cooroy Butter Factory- Secunty Fence 0000 10,000
__Community Facilities == Noosa Regional Gallery Foyer & Amenities upgrade 0.000 200,000
__ Community Facilities Noosa Triathlon Club clubroom alterations 3, 000
Community Facilities Peeregian Beach 5 Rufous St Redevelopment Digital Hub Expansion 1 B82F) 1 82T
Community Facilities = Peeregian Beach 5 Rufous St Redevelopment Project Management 58g) 55343
__Community Facilities = Peeregian Beach 5 Rufous St Redevelopment Stage 3Construction TTB 2,008,398) 4,307,176
__Community Facilities = Shine House - Stand Alone Unit Construction 8000 250,000
__Community Facilities = Sunshine Beach Skate Park New Shade Structure 0 150,000
__Community Facilities = Tewantin Netball Courts Upgrade 800 810,000
__ Parks & Playgrounds Cooroy Hinterland Playground 800,000 88.5739, 554
__ Pathways & Boardwalks = Noosa Heads Sunshine Beach Road Pathway Lighting Upgrade 450,000
__ Pathways & Boardwalks = Noosaville Sea Eagle Drive & Shire Drive Pathway Upgrades 183,137 163,137
__ Pathways & Boardwalks Noosaville Sea Eagle Drive Pathway upgrats STIP Grant 000 195,000
__ Pathways & Boardwalks = Peeregian Beach Boardwalk Upgrade North of Towerto Access 57 8000 230,000
__ Pathways & Boardwalks = Tewantin, Hilton Terrace CNLGGP Shared Pstwoy 8B 656
__ Pathways & Boardwalks Ivory Palms Shared Pathway Upgrade 22 28F 225,297
__ Sealed Roads Network Damaged Guardrail Renewals (Various) 257) 25, 7B
_ Sealed Roads Network = Tewantin Beckmans Rd Bypass Forward Design 8 000 600,000
__ Stormwater Drainage Noosaville Project Avenue Stormwater Drainage Easement Upgrade 287,324) 237,324
__Transport and Infrastructure Management —_ Cooroy Maple Street - Car Parking and Raised Pedestrian Crossing (Hinterland Playground) 173.5000 173,500) 347,000
__Transport and Infrastructure Management _ Transport Strategy. Walking & Cycling Strategy and CNLG Grant Applications (2 Year Program) 22,5000 8G 250,496
__Waste Management Noosaville Eumundi Road Landfill Design Stormwater Controls for Cell. 3 15,488) 115,466
Waste Management Noosaville Eumundi Road Landfill Expansion of Resource RecoveryAres ge 750,000
__Waste Management Noosaville Eurnundi Road Lanafill Liner, Cell capping design and associated clearing works OO 2 110,000
_ WasteManagement = Noosaville Eumundi Road Landfill Outbound Weighbridge ggg 860,000
Capital Works Total 5810808 3420,000 805,038 12,536,846
eee
__AssetManagement TC Capital Debt Redemption 2 414,000) 2,414,000
__Planning Scheme Climate Change Adaptation Program 880 192,000) 210,000
Planning Scheme Shire Project Place Based Approach - Placemaking Program 160,000) 160,000
_ZENProgram Zero Emissions Noosa Project implementation 8 521,655
Other Capital Total 5 8 584 655
rae PT Won Peay h 5) 17,121,501
Page 30 of 38Section 31
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 4
Page 31 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 4
Revenue
Recurrent Revenue
Rates, levies and charges 68,388 68,388 - 68,388
Fees and charges 6,640 6,640 - 6,640
Interest received 870 870 - 870
Sale of Goods and major services 7,254 7,296 - 7,296
Sale of contract and recoverable works 23 23 - 23
Rental & lease income 1,197 1,197 - 1,197
Other income 771 771 25 796
Grants, subsidies, contributions and donations 5,406 5,741 358 6,100
Unitywater Distributions 5,650 5,650 5,650
96,198 96,575 383 96,958
Expenses
Recurrent Expenses
Employee benefits 34,656 34,806 (54) 34,752
Matenals & services 42,671 43,293 1,180 44,473
Finance costs 1,538 1,538 - 1,538
Depreciation 18,963 18,963 - 18,963
Other expenses 189 189 - 189
98,017 98,788 1,127 99,915
OperatingResut (819) 2213) 7H) (2,957)
Summary of Capital Revenue and Expenditure
Capital Revenue
Capital contributions and donations 3,521 3,521 - 3,521
Grants, subsidies, contributions and donations 7,254 11,340 301 11,642
Cash / revenue 14,842 19,001 (191) 19,001
New loan borrowings 3,420 3,420 3,420
Other oie revenue - - - 7
Capital Expenditure
Contributed assets 2,000 2,000 - 2,000
Capital works - constructed assets 21,419 28,692 85 28,777
Capital works - other capital 3,204 4.176 25 4,201
Loan redemption 2,414 2,414 - 2,414
Page 31 of 38Section 32
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Attachment 5
Page 32 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
eel NOOSA COUNCIL FF Sg SS
2020/2021 |
BUDGET REVIEW 2 (BR2)
FINANCIAL STATEMENTS
Page 32 of 38Section 33
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 33 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
yy 2021 2024 2020 Fliyy 2023 PIT PIV Py Ply PIT) 2029 PIKT
ree Meee ee eH PSH PAU PAU Patt AA PU eH Pe Ae CAH) Pent $,000
Income es ee ee ee
Revenue
Operating revenue
Net rates, levies and charges $ 68,701|/$ 68,388/$ 68,388/$ 68,388|$ 71328 $ 73,797 $ 76175 $ 78155 $ 80,186 $ 82270 $ 84408 $ 86,601 $ 988,852
Fees and charges $ 6642/$ 6640/5 6640/5 6640/5 6931 $ 7127 $ 7,29 $ 7521 $ 7,753 $ 7991 $ 8238 $ 8466 $ 8701
Rental income $ 129/$ 1197/$ 1197/$ 1197)$ 1396 $ 1475 $ 1512 $ 1542 $ 1573 $ 1605 $ 1637 $ 1669 $ 1,703
Interest received $ 1704|/$ 870| $ 870| $ 870] $ 858 $ ass § 84 $ B15 § 824 $ B45 § 861 $ 881 $ 900
Sales revenue $ 10150/$ 7276/$ 7,319/$ 7,319] $ 10044 $ 10984 $ 11259 $ 11605 $ 11,963 $ 12332 $ 12712 $ 13,064 $ 13,426
Other income $ gas|/$ 771| $ 7™71|$ 796 | $ 878 $ 923 $ 946 $ 975 $ 1005 $ 1036 $ 1,068 $ 1098 $ 1,128
Grants, subsidies, contributions and donations $ 4999/$ 5406/$ 5741/$ 6099)/$ 5184 $ 5082 $ 5080 $ 5080 $ 5080 $ 5080 $ 5080 $ 5080 $ 5,080
Unitywater Distributions $s 5356|$ 5650/$ 5650|$ 5650|$ 5650 $ 5650 $ 5650 $ 5650 $ 5650 $ 565 $ 5650 $ 5650 $ 5,650
Total operating revenue $ 99,833/$ 96,198]$ 96,576/$ 96,958] $ 102,268 $ 105,893 $ 108,751 $ 111,343 $ 114,034 $ 116,809 $ 119,653 $ 122,509 $ 125,440
Capital revenue
Government subsidies and grants - capital $ 5511|$ 7,299/$ 11,385/$ 11687|$ 4680 $ 3012 $ 323 $ 1762 $ 1312 $ 1312 $ 1312 $ 1612 $ 1,312
Contributions - Assets and othernon-nonetary | $ 2,000/$ 2000/$ 2,000/$ 2000|/$ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2,000
Contributions - Monetary $ 1904|/$ 1476/5 1476|$ 1476|$ 2000 $ 2000 $ 2000 $ ooo $ 2000 $ 2000 $ ooo $ 2000 $ 2,000
Total capital revenue $8415) $ 10,775 $ 8680 $ 7,012 $ 7,23 $ 5762 $ 5312 $ 5,312 $ 5312 $ 5612 $ 5,312
Total revenue $109,248] $ 106,973] $ 114,437] $ 112,121] $ 110,949 $ 112,905 $ 115,987 $ 117,105 $ 119,346 $ 122,121 $ 124,965 $ 128,121 $ 130,752
Capital income
Total capital income $s -|]s -/s -]s -|]s - $ - $ - $ - $ - $ + $ - $ + $$ -
Total income $109,248 | $ 106,973] $ 114,437] $ 112,121] $ 110,949 $ 112,905 $ 115,987 $ 117,105 $ 119,346 $ 122,121 $ 124,965 $ 128,121 $ 130,752
Expenses
Operating expenses
Employee benefits $ 33516|/$ 34656|/$ 34806|/$ 34,752] $ 36013 $ 37,091 $ 38,061 $ 39343 $ 40,664 $ 42,027 $ 43433 $ 44,882 $ 46,377
Materials and services $ 45,863|/$ 42671/$ 43293|/$ 44473|$ 45563 $ 47,080 $ 48,464 $ 49294 $ 50497 $ 51,626 $ 52679 $ 54.708 $ 56,364
Finance costs $ 1528/$ 1538/5 1538/$ 1538/$ 1391 $ 1222 $ 1038 $ 838 $ 629 $ 526 $ 508 $ 491 $ 475
Depreciation and amortisation $ 18,713|/$ 18963/$ 18963/$ 18,963) $ 19753 $ 20286 $ 20,775 $ 21296 $ 21,785 $ 22272 $ 22744 $ 22185 $ 21,876
Other expenses S$ 188|$ 189] $ 189] $ 189| $ 189 $ 189 _$ 189 _$ 193 $ 197_$ 202 $ 206 S$ 21 $§ 216
Total operating expenses $ 99,809]$ 98,017/$ 98,789]$ 99,915] $ 102,909 $ 105,868 $ 108,526 $ 110,964 $ 113,773 $ 116,652 $ 119,570 $ 122,477 $ 125,307
Capital expenses
Total capital expenses s 23/$ - |j$ - |j$ - |S - $ - S$ - S$ - $ - $G$ - S$ += FSG - $F -
Total expenses | $100,052|$ 98,017 $ 99,915] $ 102.909 $ 105,868 $ 108,526 $ 110,964 $ 113,773 $ 116,652 $ 119570 $ 122477 $ 125,307
Net result $ 8956/$ 12,648 $ 8040 $ 7,036 $ 7461 $ 6141 $ 5573 $ 5469 $ 5395 $ 5644 $ 5,445
Operating result
Operating revenue $ 96,576 $ 102,268 $ 105,893 $ 108,751 $ 111,343 $ 114,034 $ 116,809 $ 119,653 $ 122509 $ 125,440
Operating expenses $ 99.809|$ 98017|$ 98,789|$ 99,915| $ 102909 $ 105,868 $ 108526 $ 110.964 $ 113,773 $ 116,652 $ 119570 $ 122477 $ 125,307
Operating result [salts 181 [is 221 [is 295m [i$ 640) $ 24 $ 25 $ 379 $ TS ETS 83 $ 32_$ 133
Page 33 of 38Section 34
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 34 of 38
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
a Budget Budget
rail) 2021 2021 2020 Faire rar) rare | 2025 2026 2027 2028 Faire: 2030
TEU Rem er mete A Per $,000 Pei Peri $,000 Pet Pei Pei $,000 $,000 Pet Peri)
Assets PT
Current assets
Cash and cash equivalents S 43,942|$ 47,536|$ 43.016|$ 52550|$ 51.097 $ 46,790 $ 42343 $ 42906 $ 43406 $ 44.768 $ 47,312 $ 49,657 $ 51,506
Trade and other receivables S$ 9200/$ 9054|/$ 9.085/$ 9117/5 9623 $ 9983 $ 10.253 $ 10543 $ 10812 $ 11.088 $ 11,340 $ 11,657 $ 11,951
Inventories $ 198 | $ 198| $ 198] $ 181] $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181
Other current assets S$ 2466/$ 2486/$ 2466/$ 2912/5 2912 S$ 2912 $ 2912 $ 2012 $ 2912 $ 2912 $ 2912 $ 20912 $ 2,912
Total current assets $s 55907/$ 50.255|$ 54.765|$ 64760|5 63.913 $ 50.886 $ 55.689 $ 56,541 $ 57,310 $ 58949 $ 61.745 $ 64407 $ 66,550
Non-current assets
Investments $ 136,360] $ 136,360| $ 136.360] $ 140,633| S$ 140,633 $ 140,633 $ 140.633 $ 140,633 $ 140,633 $ 140,633 $ 140.633 $ 140,633 $ 140,633
Property, plant & equipment S$ 916,382] $ 940.480] $ 948,640 | $ 961,982] $ 986,719 $1,013,744 $1,041,793 $1,063,934 $1,085,904 $1,110,536 $1,134,587 $1,159,700 $1,185,145
Other non-current assets Ss 7,170]}$ 7.688|/$ 7.773/$ 8400]/$ 8008 $ 7,207 $ 6381 $ 5530 $ 4654 $ 3753 $ 2826 $ 1875 $ 1,476
Total non-current assets $ 1,059,912 | $1,084,528 | $1,092,773 | $1,111,014 | $1,135,361 $1,161,584 $1,188,807 $1,210,097 $1,231,191 $1,254,922 $1,278,046 $1,302,208 $1,327,254
Total assets $ 1,115,809 | $1,143,782 | $1,147,538 | $1,175,774 | $1,199,173 $1,221,450 $1,244,496 $1,266,638 $1,288,501 $1,313,871 $1,339,791 $1,366,615 $1,393,804
Current liabilities
Trade and other payables $s 5078/$ 6356|$ 6419/$ 6512|$ 6705 $ 60189 $ 7,092 $ 7,285 $ 7493 $ 7.697 $ 7,878 $ 8188 $ 9,444
Borrowings S$ 2414/8 3116/$ 3.116/$ 3152/5 3368 $ 3552 $ 3751 $ 3,981 §$ 836 $ 734 $ 751 $ ess $ 606
Provisions S$ 4630]/$ 4630|/$ 4630/5 7582/5 7.582 $ 7.582 $ 7.582 $ 7,582 $ 7,582 $ 7.582 $ 7.582 $ 7,582 $ 7,582
Other current liabilities $ 2778|$ 2778|/$ 2778/$ 4780|/$ 4780 $ 4780 $ 4.780 $ 4,780 $ 4,780 $ 4,780 $ 4,780 $ 4780 $ 4,780
Total current liabilities s 14899]$ tee79/$ 16942/$ 22026/$ 22435 $§ 22,832 $ 23.2086 $ 23,608 $ 20690 $ 20794 $ 20.991 $ 21,235 $ 21,412
Non-current liabilities
Borrowings S 19555|$ 19637|$ 19.637/$ 19,114|$ 16186 $ 12634 $ 98883 $ 4922 $ 4086 $ 3352 $ 2601 $ 1913 $ 1,308
Provisions $ 12,054]$ 12,054|$ 12,054|$ 15,307] $ 15.307 $ 15,307 $ 15307 $ 15,307 $ 15,307 $ 15.307 $ 15,307 $ 15,307 $ 15,307
Total non-current liabilities S$ 31,609 |S 31ee1] $ 31.601] $ 24.531 | $ 31603 $ 28051 $ 24299 $ 20338 $ 19503 $ 18768 $ 18.018 $ 17,330 $ 16,724
Total liabilities $ 48,570] $ 48,633] $ 56,557|$ 54,037 $ 50,883 $ 47,505 $ 43,947 $ 40,193 $ 39,562 $ 39,008 $ 38,565 $ 38,136
Net community assets $ 1,069,301 | $1,095,213 | $1,098,905 | $1,119,217 | $1,145,136 $1,170,567 $1,196,991 $1,222,691 $1,248,308 $1,274,308 $1,300,783 $1,328,050 $1,355,668
Community equity re a ee
Asset revaluation surplus S 68,337] $ 985,293] $ 985.293] $ 103,738| S$ 121,617 $ 140,011 $ 158.975 $ 178,533 $ 198577 $ 219,108 $ 240.188 $ 261,811 $ 283,984
Retained surplus $ 1,000,964 | $1,009,920 | $1,013,612 | $1,015,479 | $1.023.519 $1,030,556 $1,038,017 $1,044,158 $1,049,731 $1,055,200 $1,060,595 $1,066,239 $1,071,684
Total community equity $ 1,069,301 | $1,095,213 | $1,098,905 | $1,119,217 | $1,145.136 $1,170,567 $1,196,991 $1,222,691 $1,248,308 $1,274,308 $1,300,783 $1,328,050 $1,355,668
Page 34 of 38Section 35
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 35 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
jAnmuatResut | cere | eee | RY orecast
dq Budg
rai rai) 2021 2021 2021 Pal ral FX] 2024 2025 2026 rar ts 2028 at Fa) Paik |
Statement of Cash Flows Pt PA) $,000 Pe) Peis Pai) $,000 $,000 PA) Perils $,000 $,000 $,000
Cash Hows trom operating aoteiies pT
Receipts from customers S 85.969/$ 83206|$ 833009/$ 82924] $5 88616 $ 92469 $ 95407 $ 97,970 $ 100.640 $ 103,355 $ 106,174 $ 108,016 $ 111,816
Payments to suppliers and employees ($ 84.340) |($ 76,649) |(S$ 77,358) |(S 81.041) |(S 81,984) (S 84.550) ($ 986,952) ($ 89,048) ($ 91,563) ($ 94,062) (S 96.550) ($ 99,906) ($ 103.109)
Dividend received $ 3.050} $ 3,050/$ 3.050/$ 3050/S 3050 $ 3050 $ 3050 $ 3050 $ 3,050 $ 3050 $ 3,050 $ 3,050 $ 3,050
Interest received S$ 4010/$ 3470|$ 3470|/$ 3470/$ 3458 $ 3455 S$ 3434 $ 3415 $ 3424 $ 3445 $ 3461 $ 3481 $ 3,500
Rental income $ 1.200] $ 1200/$ 1199/$ 1.194/$ 1380 $ 1469 $ 1509 $ 1539 $ 1571 $ 1602 $ 1634 $ 1666 $ 1,700
Non-capital grants and contributions $ 4976|$ 5418|$ 5752]/$ 6087/$ 5259 $ 5090 $ 5081 $ 5079 $ 50809 $ 508 $ 5081 $ 5079 $ 5,080
Borrowing costs (S$ 1.271) |(S = 1.126) }(S = 1,128) |(S_~—-1,082) | (s 979) (S$ 810) ($ 626) (S$ 426) (S$ 217) (S$ 114) (S 96) (S 79) (S 63)
Other cash fiows from operating activities (3 11)| $ - $ - $s - $ - $ - $ - $ - 3 - $ - $ - 3 - $ -
Net cash flow from operating activities $ 13673|$ 18658] $ 18296|$ 14592] $ 18800 $ 20,164 $ 20904 $ 21,578 $ 21,985 $ 22,357 $ 22,755 $ 22207 $ 21,974
Cash flows from investing activities
Payments for property, plant and equipment ($ 28,809) |($ 23.250) |($ 31,419) |(S 31,529) |($ 23,621) (S 25.865) ($ 26.784) (S$ 20.776) ($ 20,586) ($ 23,221) (S 22.530) ($ 22,473) ($ 22.749)
Payments for intangible assets (S$ 2.063) ]}(S 1.364) |(S 1,449) ]/(S 1.449) (S$ 600) ($ 250) ($ 250) ($ 250) (S$ 250) ($ 250) ($ 250) ($ 250) $ -
Grants, subsidies, contributions and donations $ 7415|$ 8775/$ 12861/$ 13162]S 6680 $ 5012 $ 5236 $ 3762 $ 3312 $ 3312 $ 3312 $ 3612 $ 3,312
Other cash flows from investing activities $ 10} $ - $ - $s - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Net cash flow from investing activities ($ 23,447) ($ 19,816) |($ 17,541) ($ 21,103) ($ 21,798) ($ 17,264) ($ 17,524) ($ 20,159) ($ 19,477) ($ 19,111) ($ 19,437)
Cash flows from financing activities
Proceeds from borrowings S$ 3420)/$ 3420)/$ 3420/ $ 440 $ - $ - $ - $ - $ - $ - $ - $ -
Repayment of borrowings (S 2,636) |(S 2,636) |(S 2,670)|(S 3.152) (S$ 3.368) (S$ 3,552) ($ 3.751) ($ 3,961) (S$ 836) (§ 734) (S 751) ($ 688)
Net cash flow from financing activities ($ 2,712) ($ 3,368) ($ 3,552) ($ 3,751) ($ 3,961) ($ 836) ($ 734) ($ 751) ($ 688)
Total cash flows
Net change in cash and cash equivalent held ($ 12038)] $ 3,594 |($ 926) [($ 4,474) [($ 1,453) ($ 4,307) ($ 4,446) $ 562 $ 500 $ 1,362 $ 2544 $ 2345 $ 1,849
Opening cash and cash equivalents fs ssse1|s asoa2|s assez |$ 57,028 $ 52550 $ 51,097 $ 46,790 $ 42343 $ 42906 $ 43,406 $ 44,768 $ 47,312 $ 49,657
Closing cash and cash equivalents |$ 43,942| $ 47,536] $ 43,016] $ 52550] $ 51,097 $ 46,790 $ 42,343 $ 42906 $ 43,406 $ 44,768 $ 47,312 $ 49,657 $ 51,506
Page 35 of 38Section 36
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 36 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
Current Original
Annual Result Budge Budge Forecast
rat FaU ral rai Fa AIF Pair Pare) Pair 2025 Pair a Pair Pair Pat) Paik U
ATC OMe Re La $,000 a SAU) PAUL PAUL PUY aU AAU SAU PRU PA ee at
Asset revaluation resene |
Opening balance S$ 50,809/$ 68,337/$ 68337/$ 86,524/$ 103,738 $ 121,617 $ 140,011 $ 158,975 $ 178533 $ 198577 $ 219,108 $ 240,188 $ 261,811
Change in asset revaluation surplus S$ 17,528|$ 16,956/$ 16956/$ 17,214/$ 17,878 $ 18395 $ 18963 $ 19559 $ 20.043 $ 20531 $ 21,080 $ 21,623 $ 22,173
Closing balance $ 68,337/$ 85,293 $ 103,738|$ 121,617 $ 140,011 $ 158,975 $ 178533 $ 198,577 $ 219,108 $ 240,188 $ 261,811 $ 283,984
Retained surplus
Opening balance $ 991,767 | $ 1,000,964 | $ 1,000,964 | $ 1,003,273 | $1,015,479 $1,023,519 $1,030,556 $1,038,017 $1,044,158 $1,049,731 $1,055,200 $1,060,595 $ 1,066,239
Net result S$ 9197|$ —-8.956]$ 12648/$5 12,206|$ 6,040 S$ 7,038 $ 7461 S$ 6141 $ 5573 $ 5469 $ 5395 $ 5,644 $ 5,445
Closing balance $ 1,000,964 | $ 1,009,920 $1,023,519 $1,030,556 $1,038,017 $ 1,044,158 $1,049,731 $1,055,200 $1,060,595 $1,066,239 $1,071,684
Total
Opening balance $ 1,042,576 | $ 1,069,301 | $ 1,069,301 | $ 1,089,797 | $1,119,217 $1,145,136 $1,170,567 $1,196,991 $1,222,691 $1,248,308 $1,274,308 $1,300,783 $ 1,328,050
Net result $ 9197)$ 8956]$ 12648/$ 12.206/$ 6040 $ 7,03 $ 7461 $ 6141 $ 5573 $ 5469 $ 5395 $ 5644 $ 5,445
Change in asset revaluation surplus S$ 17,528|$ 16,956/$ 16956/$ 17,214/$ 17,878 $ 18395 $ 18963 $ 19559 $ 20.043 $ 20531 $ 21,080 $ 21,623 $ 22,173
Closing balance $ 1,069,301 | $ 1,095,213 | $ 1,098,905 | $ 1,119,217 | $1,145,136 $1,170,567 $1,196,991 $1,222,691 $1,248,308 $1,274,308 $1,300,783 $1,328,050 $ 1,355,668
Page 36 of 38Section 37
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Page 37 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
budget Budget Target
2020 ya's | Fa r1I FAI F 2023 2024 rai FL.) 2026 2027 rai 2) 2029 Pai
Operating Surplus Ratio 0.0% -1.9% -2.3% -3.0% 0-10% 0.6% 0.0% 0.2% 0.3% 0.2% 0.1% 0.1% 0.0% 0.1%
Net Financial Liabilities Ratio 9.4% -11.1% 6.3% 8.5% <60% -9.6% -8.5% -7.5% -11.3% -15.0% -16.6% -19.0% -21.1% -22.7%
Asset Sustainability Ratio 108.4% 87.5% 101.5% 100.1% >90% 107.2% 122.0% 124.1% 92.5% 90.0% 95.5% 94.5% 97.2% 98.0%
Operating Surplus Ratio
Measures the extent to which revenues raised cover operational expenses
only or are available for capital funding purposes or other purposes.
Calculation: Net operating result divided by total operating revenue, expressed as a % (excluding capital revenue or expenses).
Target: between 0% and 10%.
Net Financial Liabilities Ratio
Measures the extent to which the net financial liabilities of Council can
be repaid from operating revenues.
Calculation: (total liabilities less current assets) divided by
total operating revenue, expressed as a %.
Target: not greater than 60%.
Asset Sustainability Ratio
This ratio reflects the extent to which the assets managed by Council
are being replaced as they reach the end of their useful lives.
Calculation: capital expenditure on the replacement of infrastructure assets
(renewals) divided by depreciation expense, expressed as a %.
This includes infrastructure as well as plant and equipment.
Intangibles are excluded.
Target: greater than 90%.
Page 37 of 38Section 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
7 CLOSED SESSION
Nil.
Page 38 of 38
GENERAL COMMITTEE MEETING AGENDA 14 DECEMBER 2020
7 CLOSED SESSION
Nil.
Page 38 of 38