2020-12-14 General Committee Agenda

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




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