05 Financial Performance Report - Nov 2021

GENERAL COMMITTEE MEETING AGENDA                                                                        13 DECEMBER 2021


 Category               Summary                             Comments
 Other Revenue          $1.3m (43%) of the                  •      Other revenue is in line with budget expectations at this
                        $3.1 million budget                        stage
                        has been earned
 Operating              $2.5 million (43%) of               •      Operating grants are in line with budget expectations
 Grants,                the $5.8 million budget                    at this stage.
 Subsidies              has been received                   •      50% ($1.2 million) of the financial assistance grant was
                                                                   again prepaid in June 2021 and may impact on
                                                                   Council’s 2021/22 final operating position if the
                                                                   prepayment approach is discontinued by the
                                                                   Australian government.
 Unitywater             On track                            •      Unitywater distributions are fixed each year so little
 Distributions                                                     budget variance risk

Figure 2: Operating Revenue Position by Type (Excluding Rates)

  $6.0
                                                     $5.2
                                                                                   YTD Budget ($m)
  $5.0           $4.4                                                              YTD Actual ($m)
                                              $3.9
  $4.0
         $3.2

  $3.0
                                                                                           $2.4 $2.5

  $2.0                                                                                                 $1.8 $1.8

                                                            $0.9 $0.9
  $1.0                                 $0.3                                   $0.5 $0.4
                         $0.3

  $0.0
                                                                                  Other
                                                                Income
             Charges




                                                                                              Grants
                                               Goods &




                                                                                                         Unitywater
                                               Services
                                               Sales of




                                                                 Rental
                            Interest
             Fees &




                                                                                                          Share of




Operating Expenditure (YTD Benchmark 41.7%)
Actual operating expenditure is currently 40% ($43.3 million) of full year budget ($107.9 million).
Detailed commentary for each expenditure category is provided below.

 Category               Summary                                           Comments
 Employee Costs         $15.4 million (41%) of the                        •   Under expenditure for permanent staff salaries
                        annual budget of $37.7                                and wages ($1.3 million) partially offset by
                        million has been expended                             additional spend on casual staff and external
                                                                              labour hire ($819k)
 Materials and          $19.1 million (39%) of the                        •   Waste Management $333k below YTD budget
 Services               $49.3 million annual budget                           (37% or $4.1 million of $11.1 million budget
                        has been expended.                                    spent)
                                                                          •   Mayor and Councillor Support costs $77k
                                                                              above YTD budget ($80k of $8k budget spent)
                                                                              – subscription for Council joining the SEQ
                                                                              Council of Mayors
                                                                          •   CEO’s Office $134k above YTD budget
                                                                              (102.2% or $310k of $303k budget spent) –
                                                                              Kin Kin Quarry legal appeal costs