2019-07-15 General Committee Agenda

GENERAL COMMITTEE MEETING REPORT                                                                                15 JULY 2019

 Category                Summary                                       Comments
                                                                          million budget spent) – relating to the timing of
                                                                          community building refurbishment works
                                                                        Beach Management $93k below annual budget
                                                                          (46% or $78k of $171k budget spent) – timing of
                                                                          Dog Beach Shoreline Erosion Management Plan
                                                                        Fleet costs for fuel and tyres $141k below annual
                                                                          budget (78% or $518k of $660k budget spent)
                                                                        Maintenance of Council buildings and amenities
                                                                          $143k below annual budget due to timing of
                                                                          scheduled maintenance (83% or $700k of $843k
                                                                          budget spent)
                                                                        Community Development grants $81k below annual
                                                                          budget (92% or $904k of $984k budget spent)
                                                                        Holiday Parks operating costs and commissions
                                                                          $62k above annual budget (98% or $1.4 million of
                                                                          $1.3 million budget spent) – offset by additional
                                                                          revenue
                                                                        Development assessment legal appeals costs
                                                                          $204k above annual budget (123% or $1.1 million
                                                                          of $878k budget spent)
 Finance Costs           $5.1 million (223%) of the                         $1.4 million market adjustment from $10 million
                         $2.3 million annual budget                          early loan repayment made on 28 June 2019– offset
                         has been expended                                   by savings in future years
                                                                            $1.5 million adjustment to the provision for future
                                                                             rehabilitation of Eumundi Road Landfill reflecting
                                                                             change in market conditions (not budgeted)
                                                                            All other finance costs in line with budget
                                                                             expectations
 Depreciation            $15.8 million (94%) of the                         Annual depreciation $1.1 million below budget due
                         $16.9 million annual budget                         to timing of the capital works program, lower than
                         has been expended                                   anticipated revaluation impacts and progress on the
                                                                             asset data improvement project.
 Other                   On track                                      Nil
 Expenses

Figure 3: Operating Expenditure Position by Type

 $45
                                                Full Year Budget ($m)
 $40
                                                Full Year Actual ($m)
 $35
 $30
 $25
 $20
 $15
 $10
  $5
  $0
                                    Materials




                                                       Finance Costs




                                                                                    Depreciation
             Employees




                                                                                                   Other




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