2016-07-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                     18 JULY 2016


Figure 2: Recurrent Revenue Position by Type (Excluding Rates)
 $12.0

                                   YTD Budget ($m)
 $10.0
                                   YTD Actual ($m)
  $8.0

  $6.0

  $4.0

  $2.0

  $0.0




                                                        Other




                                                                   Grants
             Fees




                        Dividend




                                                Tax
                                     Interest




Recurrent Expenditure (YTD Benchmark 100%)

Operating expenditure of $81.6m is 94% of the $87.2m budget. Total operating expenditure is
expected to increase slightly once year end invoice accruals are finalised. Commentary on each
recurrent expenditure type is provided below.

 Employee Costs – Actuals of $27.3m against the full-year budget of $27.6m equates to 99%
   of budget. Variances primarily relate to under-expenditure in training costs in addition to
   capitalisation of salaries above original estimates.
 Materials and Services – $34.9m (87%) of the $40.2m budget has been expended. Variances
   relate to under-expenditure against contract services, consultancy fees, maintenance, and
   special levies ($3.0m). Specifically, there is under-expenditure against buildings and facilities
   maintenance ($149k), with some works deferred; electricity savings of $90k resulting from
   improved tariffs under the Local Buy arrangement, savings against ICT communications and
   software costs ($295k), plant and fleet materials and services $428k below budget (leases,
   fuel, tyres, spares); waste management costs $982k below budget (contract services $775k
   and consultancies $198k), with actual costs associated with the March election $40k lower
   than estimated.
 Finance Costs – generally in accordance with budget.
 Depreciation expense – in accordance with budget pending finalisation of year end asset
   capitalisation.
 Other Expenses – generally in accordance with budget.




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