FINANCIAL PERFORMANCE REPORT AUGUST 2026 · Report

ORDINARY MEETING                                                               17 SEPTEMBER 2026



Operating Revenue
At 31 August 2026, Council had received $66.7 million or 40.6% of its operating revenue budget of
$164.2 million.

The favourable operating variance of $1.0 million is mainly attributable to:

• higher than anticipated general rates $169k and waste utility charges $100k and lower than
anticipated discounts $91k and pensioner remissions and rebates $71k
• higher than anticipated investment earnings (interest) arising from higher than budgeted average
cash holdings $582k.

Operating Expenditure
At 31 August 2026, actual operating expenditure was $27.1 million or 16.5% of the full year operating
expenditure budget of $164.2 million.

The favourable operating variance of $0.3 million is mainly attributable to:
•   lower than anticipated employee benefits $84k
•   lower than anticipated materials and services costs of $103k
•   lower than anticipated finance costs $148k.
Expenditure variances at this stage of the financial year are largely influenced by timing and
expenditure profiling factors. Further detailed analysis and commentary will be provided through
future monthly reports as expenditure patterns mature and longer-term trends can be assessed with
greater confidence.

Tourism and Economic Development Investment
Council has resolved to report on a monthly basis, investment details for tourism and economic
development, with expenditure on Tourism and Economic Development activities to 31 August 2026
outlined in the below table.




Capital Revenue
Capital revenues of $6.2 million received to 31 August 2026 mainly comprise capital grants and
subsidies of $6.1 million and cash contributions from developers of $101k, with the timing of capital
grant and subsidy receipts generally dependent on grant conditions and the timing of capital works
delivery.

The timing of the receipt of developer contributions (both cash and contributed assets) remains
unpredictable.

A summary of major capital grants and subsidies received to 31 August 2026 by capital works is
outlined in the following table.