10 Financial Performance Report - Apr 2025

GENERAL COMMITTEE MEETING                                                                     12 MAY 2025


 Category           Summary                   Comments


 Operating          $5.2 million (72.7%) of        •    Operating Grants and subsidies are in line with
 Grants,            the $7.1 million                    budget expectations at this stage of the year.
 Subsidies          annual budget has
                    been received                  •    $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 the grant in the preceding
                                                        year. This prepayment approach had been
                                                        consistent over the past 7 years.
                                                   •    Council has received notification of the approved
                                                        FY 2024/25 financial assistance grant allocation
                                                        which is less than budgeted. As such there is
                                                        potential for this to impact the FY 24/25 operating
                                                        position if payment of future years allocations are
                                                        not paid in the preceding year.


 Unitywater         On track                       •    Unitywater distributions are fixed each year so
 Distributions                                          there is limited budget variance risk


Figure 2: Operating Revenue Position by Type (Excluding Rates)




Operating Expenditure (YTD Benchmark 83.3%)
Actual operating expenditure is currently 79.3% ($112.0 million) of the full year budget ($141.1
million). Detailed commentary for each expenditure category is provided below.

 Category           Summary                            Comments
 Employee Costs     $43.0 million (80.9%) of the          •    Expenditure for permanent staff salaries
                    annual budget of $53.1                     and wages underspent ($2.1 million) due to
                    million has been expended                  position vacancies and the recoupment of
                                                               YTD vacancy dividend. This underspend is
                                                               offset by additional spend on casual staff
                                                               and external labour hire ($1.4 million).
                                                          •    The renegotiation of the Council's certified
                                                               agreement is still ongoing; accordingly the
                                                               forecast salary increases commencing
                                                               March 2025 have not yet taken effect. This
                                                               is also contributing to the YTD underspend