2019-07-15 General Committee Agenda

GENERAL COMMITTEE MEETING REPORT                                                        15 JULY 2019

RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 15 July 2019 providing results of the interim 2018/19 full year financial performance against
budget.


REPORT
Operating Revenue (Annual Benchmark 100%)
Council has received 104% ($99.3 million) of its operating revenue budget ($95.1 million).
Commentary on each revenue category is provided below.

 Category        Summary                   Comments
 Rates and       $66.4 million (102%) of      General rates $1.2 million above budget due to a one-
 Levies          the annual budget of          off adjustment for an accounting standards change to
                 $65.2 million has been        the treatment of prepaid rates.
                 earned                       All other rates and levies earned are in line with budget
                                               forecasts.
 Fees and        $7.2 million (113%) of       Development related fees $406k above annual budget
 Charges         the $6.3 million annual       (130% or $1.7 million of $1.4 million budget earned) –
                 budget has been               offset by additional salary and development appeal legal
                 earned                        costs above budget
                                              Building and plumbing application/ search fees $155k
                                               above annual budget (100% of $1.8 million budget
                                               earned)
                                              Waste temporary bin collection services $52k above
                                               annual budget (464% or $67k of $14k budget earned)
                                              Local laws fees $144k above annual budget (111% or
                                               $1.5 million of $1.3 million budget earned)
                                              Community land use permits $76k above annual budget
                                               (120% or $451k of $375k budget earned)
 Sale of Goods   $9.7 million (104%) of       Eumundi Road landfill disposal charges and recyclable
 and Services    the $9.3 million budget       sales $275k above annual budget (109% or $3.3 million
                 has been received             of $3.0 million budget earned)
                                              Noosa Leisure Centre $66k above annual budget (112%
                                               or $599K of $536k budget earned)
 Interest        $4.9 million (105%) of       Investment revenue $197k above annual budget (112%
 Received        the $4.6 million annual       or $1.8 million of $1.6 million budget earned)
                 budget has been              Interest on overdue rates and charges $53k above
                 earned                        annual budget (112% or $511k of $458k budget earned)
 Dividend and    On track                     Interim performance is in line with budget
 Tax                                          Final Unitywater payments will be confirmed with the
                                               completion of the financial statements
 Other           $2.4 million (110%) of       Civil Operations internal plant hire recoveries $597k
 Revenue         the $2.2 million budget       above annual budget (203% or $1.2 million of $580k
                 has been earned               budget earned) – offset by internal hire charges
                                              Waste Management internal recoveries for landfill
                                               disposal $56k above annual budget (379% or $77k of
                                               $20k budget earned)
                                              Local Laws SPER penalty recoveries $26k above
                                               annual budget (117% or $178k of $152k budget earned)
 Operating       $5.4 million (129%) of       50% or $1.1m of the 2019/20 Financial Assistance Grant
 Grants,         the $4.2 million budget       paid in advance by Australian Government in June 2019
 Subsidies       has been received


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