Financial Performance Report – June 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                           17 JULY 2023


 Category            Summary                       Comments
 Other Expenses      Currently on track            Nil


Figure 3: Operating Expenditure Position by Type




Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure at 30 June 2023 is outlined below:


 Expenditure                Annual Budget          FY Actual        Variance
                                      $m                 $m              $m
 Payment    to    Tourism                                                   -
                                      $2.65              $2.65
 Noosa
 Economic Development                 $1.27              $1.09          $0.18

 Total                                $3.92              $3.74          $0.18


All instalments payable under the Tourism Noosa agreement for the 2022-23 financial year have
been made. The renewal of the Tourism Noosa agreement was endorsed by Council at the April
Ordinary Meeting.

Economic Development expenditure is slightly under the full year budget with the development of
the Destination Management Plan progressing.

Tourism and economic development activity is funded through the general rate, with 5.8% of the
annual general rate committed towards tourism and economic development. Should actual general
rate revenue fall below budget, this does not impact Council’s contractual commitment to fully fund
its contribution to Tourism Noosa and all associated tourism activity. Any general rate revenue
shortfall is funded through other general revenue sources to ensure all planned activities are
undertaken in full.