06 Financial Performance Report - Dec 2024

GENERAL COMMITTEE MEETING                                                              20 JANUARY 2025


REPORT
Operating Revenue (YTD Benchmark 50.0%)
Council has received 52.5% ($73.4 million) of its operating revenue budget ($139.9 million).
Commentary on each revenue category is provided below.

 Category          Summary                   Comments
 Rates and         $47.0 million (49.8%)     •   Waste utility charges $90.0k above YTD budget
 Levies            of the annual budget of       (50.3% or $8.5 million of $16.9 million annual budget
                   $94.4 million has been        earned)
                   earned                    •   General rate (net of discounts) $157.9k below YTD
                                                 budget (49.7% or $35.5 million of $71.4 million annual
                                                 budget earned)

 Fees and          $5.8 million (52.9%) of   •   Building & Plumbing Compliance $165.7k above
 Charges           the annual budget of          budget (50.7% or $1.3 million of $2.6 million annual
                   $10.9 million has been        budget earned)
                   earned                    •   Waste $56.0k above budget (147.4% or $83.9k of
                                                 $56.9k annual budget earned)
                                             •   Development Assessment $272.9k below budget
                                                 (51.1% or $1.8 million of $3.6 million annual budget
                                                 earned)

 Sale of Goods     $7.6 million (55.0%) of   •   Holiday Park revenue $315.3k above budget (61.3%
 and Services      the annual budget of          or $2.5 million of $4.0 million annual budget earned).
                   $15.6 million has been        Any revenue upside will be generally offset by a
                   earned                        corresponding increase in associated operating costs.
                                             •   Waste $196.7k above budget (51.8% or $3.9 million of
                                                 $7.7 million annual budget earned).
                                             •   Sports facility revenue $167.7k above budget (56.1%
                                                 or $1.7 million of $2.9 million annual budget earned)

 Interest          $3.3 million (105.1%)     •   Interest revenues have continued to track above
 Received          of the $3.1 million           budget with investment in higher yielding term
                   annual budget has             deposits maximising the return on surplus cash
                   been earned                   holdings. Cash holdings are higher compared to
                                                 previous years due to the advanced payment of QRA
                                                 disaster capital works grants and delays in the delivery
                                                 of the capital works program.

 Other Revenue     $1.9 million (59.2%) of   •   Plant recharge revenue is $76.9k above budget due to
                   the $3.3 million              internal plant being utilised for the delivery of disaster
                   annual budget has             funded capital projects.
                   been earned               •   Royalty income from landfill gas $22.4k above budget
                                                 (88.5% or $51.5k of $58.1k annual budget earned).
                                             •   Recoupment of Waste Bin (SULO) purchases $14.3k
                                                 above budget (63.9% or $66.0k of $103.3k annual
                                                 budget earned.

 Operating         $4.2 million (62.9%) of   •   Operating Grants and subsidies are in line with budget
 Grants,           the $6.6 million              expectations at this stage of the year. YTD variance
 Subsidies         annual budget has             relates to $65k Floating Land grant, $75k for Disaster
                   been received                 Recovery & Resilience Officer funding program, $90k
                                                 for Regional Enablers program and $98k final
                                                 payment relating to Black Summer Bushfire Funding
                                                 for the living tech fire lab.
                                             •   $1.4 million of the FY 2025 financial assistance grant
                                                 allocation was received in July 2024. This is a change
                                                 from the previous approach of prepaying part or all of