2015-05-26 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                  26 MAY 2015


RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 26 May 2015 providing the April 2015 monthly financial performance
report for the 2014/15 financial year.

REPORT
Recurrent Revenue

Council has received 95% ($81 million) of its recurrent revenue budget of $85 million as at the
end of April 2015. Commentary on each recurrent revenue type is provided below:

 Rates and Levies – $59.3m (99.8%) of the annual revenue budget of $59.4m has been
   recognised now the July 2014 and January 2015 rates and levies have been issued.
 Fees and Charges – Fees and charges earned ($8.8m) totals 88.6% of the full year budget
   (compared to the YTD benchmark of 83%). Development related fees, cemetery fees and
   search fees remain ahead of forecasts, but this is offset by revenue under recovery in some
   other fee lines. Significant variances have been identified and included in the March quarter
   budget review.
 Interest Received – Remains ahead of forecast due to higher levels of cash available for
   investment.
 Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in line
   with budget forecasts.
 Other Revenue – Generally in accordance with budget predictions, with sale of recyclables
   continuing to track above budget. Significant variances have been included in the quarterly
   budget review.
 Grants and Subsidies – Overall receipts to date are in accordance with budgeted levels.

Figure 2: Recurrent Revenue Position by Type (Excluding Rates) - $million
 $10
  $9
  $8
                                  YTD Budget ($m)
  $7
                                  YTD Actual ($m)
  $6
  $5
  $4
  $3
  $2
  $1
  $0
                                                      Other




                                                                 Grants
           Fees




                      Dividend




                                            Tax
                                 Interest




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