2022-03-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                        14 MARCH 2022


 Category              Summary                     Comments
                                                    Noosa Aquatic Centre revenue $63k above YTD
                                                      budget (71.5% or $1.2 million of $1.7 million annual
                                                      budget earned)
 Interest              $486k (73%) of the                 Interest revenues on cash invested will need ongoing
 Received              $670k annual budget                 monitoring to ensure returns on surplus funds are
                       has been earned                     maximised as investment rates begin to increase.
 Other Revenue         $1.9m (62%) of the                 Waste sulo bin recoveries below YTD budget $88k
                       $3.1 million annual                 (27.8% or $63k of $226k annual budget earned)
                       budget has been                    Holiday Park electricity recoupment below YTD budget
                       earned                              $79k. No revenue recouped YTD due to supplier
                                                           delays from COVID. Installation has now commenced
                                                           and is in implementation phase.
 Operating             $4.2 million (72%) of              Operating grants are in line with budget expectations
 Grants,               the $5.9 million annual             at this stage.
 Subsidies             budget has been                    50% ($1.2 million) of the financial assistance grant was
                       received                            again prepaid in June 2021 and may impact on
                                                           Council’s 2021/22 final operating position if the
                                                           prepayment approach is discontinued by the
                                                           Australian government.
 Unitywater            On track                           Unitywater distributions are fixed each year so little
 Distributions                                             budget variance risk

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

  $9.0                                      $8.4
                                     $7.5                                 YTD Budget ($m)
  $8.0
                                                                          YTD Actual ($m)
  $7.0
                $6.4
         $5.8
  $6.0
  $5.0
                                                                                  $4.2 $4.2
  $4.0
                                                                                               $2.9 $2.9
  $3.0
  $2.0
                                                   $1.3 $1.3
                       $0.5 $0.5                                     $0.7 $0.6
  $1.0
  $0.0
                                                       Income
             Charges




                                                                         Other
                                      Goods &




                                                                                      Grants




                                                                                                  Unitywater
                                      Services
                                      Sales of




                                                        Rental
                          Interest
             Fees &




                                                                                                   Share of




Operating Expenditure (YTD Benchmark 66.67%)
Actual operating expenditure is currently 62% ($68.8 million) of full year budget ($110.1 million).
Detailed commentary for each expenditure category is provided below.

 Category              Summary                                   Comments
 Employee Costs        $23.6 million (62%) of the                   YTD under expenditure for permanent staff
                       annual budget of $38.1                        salaries and wages ($2.75 million) due to
                       million has been expended                     position vacancies, partially offset by additional
                                                                     spend on casual staff and external labour hire
                                                                     ($1.1 million).




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