Meeting papers

GENERAL COMMITTEE MEETING                                                            17 JUNE 2024




Figure 3: Operating Expenditure Position by Type




Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure at 31 May 2024 is outlined below:


 Expenditure                             YTD Budget      YTD Actual      Variance
                                              $’000           $’000         $’000
 Tourism Noosa Funding Agreement              $2,520         $2,520              -

 Economic Development                         $1,039           $970          ($69)

 Total                                        $3,559         $3,490          ($69)


All instalments payable under the Tourism Noosa agreement for the 2023-24 financial year have
been made.

   •     Employee Costs are $1k above budget (92.1% or $578.4k of $627.6k annual budget spent)
   •     Materials & Services are $70.3k below budget (53.0% or $233.2k of $439.7k annual budget
         spent)

Capital Revenue
Full Year Capital revenue of $32.7 million received comprises cash contributions from
developers ($2.3m) and capital grants ($27.4 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.

Grants and subsidies is higher than prior years due to the receipt of funding from the Queensland
Reconstruction Authority for reconstruction works relating to the Black Mountain landslip and
several other flood impacted sites, which are currently under construction.




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