Financial Performance Report – June 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                               17 JULY 2023


Category            Summary                   Comments
Rates and Levies    $83.2 million (100.0%)       •   Overall total rates and levies earned are in line
                    of the annual budget of          with the annual budget
                    $83.2 million has been
                    earned
Fees and Charges    $8.2 million (95.4%) of      •   Development Assessment $187.3k below
                    the annual budget of             budget (92.2% or $2.2 million of $2.4 million
                    $8.7 million has been            annual budget earned)
                    earned                       •   Building fees $112.0k below budget (87.3% or
                                                     $770.0k of $882.2k annual budget earned)
                                                 •   Plumbing fees $41.2k below budget (96.8% or
                                                     $1.2 million of $1.3 million annual budget
                                                     earned)
                                                 •   Local Laws $66.3k below budget (95.9% or
                                                     $1.5 million of $1.6 million annual budget
                                                     earned)
                                                 •   Waste Management $45.6k below budget
                                                     (95.27% of $918.8k of $964.4k annual budget
                                                     earned)
Sale of Goods and   $13.9 million (105.1%)       •   Holiday Park revenue $406.1k above budget
Services            of the annual budget of          (110.26% or $4.3 million of $4.0 million annual
                    $13.2 million has been           budget earned). Any revenue upside will be
                    earned                           generally offset by a corresponding increase in
                                                     associated operating costs
                                                 •   Community Facility fees $270.0k above
                                                     budget (108.7% or $3.4 million of $3.1 million
                                                     annual budget earned)
Interest Received   $4.4 million (138.5%)        •   Interest revenues continue to track above
                    of the $3.2 million              budget with Council investing surplus cash in
                    annual budget has                high yielding term deposits to maximise the
                    been earned                      return on its cash holdings. The interest rate
                                                     on the QTC and CBA facilities has also
                                                     increased in line with market pressures
                                                     generating increased interest revenue.
Other Revenue       $3.6 million (134.8%)        •   Waste Management sundry revenue $107.7k
                    of the $2.7 million              above budget (147.3% or $335.5k of $227.8k
                    annual budget has                annual budget earned)
                    been earned                  •   Community Facility revenue $71.3k above
                                                     budget (116.5% or $503.3k of $431.9k annual
                                                     budget earned)
                                                 •   Properties and Facilities revenue is $127.7k
                                                     above budget due to the receipt of an
                                                     insurance reimbursement for damage to
                                                     Council properties from the February 2022
                                                     flood event.
Operating Grants,   $6.9 million (120.9%)        •   Operating Grants and subsidies are above
Subsidies           of the $5.7 million              budget expectations due to the receipt of a
                    annual budget has                QRA Local Economic Recovery Grant, QRA
                    been received                    Emergent Works and Disaster Funding,
                                                     Queensland Arts Showcase Program Grant,
                                                     Illegal Dumping Grant, Eco-Certified Tourism
                                                     Destination Program and Public Health
                                                     Network Grant.
                                                 •   100% ($2.0 million) of the financial assistance
                                                     grant in respect to the FY 2023/24 year was
                                                     prepaid in June 2023. In previous years this
                                                     prepayment has been 50-75%. As such this
                                                     may impact on Council’s 2023/24 final