2015-07-21 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                   21 JULY 2015


RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 21 July 2015 providing the interim June 2015 monthly financial
performance report for the 2014/15 financial year.

REPORT
Recurrent Revenue

Council has received 101.3% ($86.6 million) of its recurrent revenue budget of $85.4 million as at
the end of June 2015. Accounting adjustments associated with preparation for the annual
financial statements are not yet complete, and as such the final figures are expected to show
minor adjustments. Commentary on each recurrent revenue type is provided below:

 Rates and Levies – $59.4m (100.2%) of the annual revenue budget of $59.3m has been
   recorded.
 Fees and Charges – Fees and charges earned ($4.7m) totals 106% of the full year budget.
   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.
 Interest Received – Finished 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
   expected to be in line with budget forecasts, with final payments dependent upon the
   completion of their annual statements.
 Other Revenue – Generally in accordance with budget predictions, with sale of recyclables
   exceeding budget forecasts.
 Grants and Subsidies – Overall receipts for operational grants are in accordance with
   budgeted levels, with any unexpended portion of the grant to be carried forward for
   completion in the 2015/16 financial year.

Figure 2: Recurrent Revenue Position by Type (Excluding Rates)
 $12

 $10

                                    YTD Budget ($m)
  $8
                                    YTD Actual ($m)
  $6

  $4

  $2

  $0
                                                       Other
           Fees




                                                                  Grants
                      Dividend




                                              Tax
                                 Interest




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