Meeting papers

GENERAL COMMITTEE MEETING                                                          14 AUGUST 2023


REPORT
Operating Revenue (YTD Benchmark 8.3%)
Council has received 38.6% ($51.2 million) of its operating revenue budget ($132.4 million).
Commentary on each revenue category is provided below.

 Category            Summary                   Comments
 Rates and Levies    $45.8 million (51.3%)        •   Waste utility charges $139.9k above YTD
                     of the annual budget of          budget (51.2% or $8.0 million of $15.7 million
                     $89.3 million has been           annual budget earned)
                     earned                       •   General rate (net of discounts) $281.0k below
                                                      YTD budget (51.44% or $34.8 million of $67.7
                                                      million annual budget earned), due to a
                                                      combination of additional pensioner rebate
                                                      take-up, timing of discounts and lower than
                                                      anticipated general rate with changes in rate
                                                      category and revised valuations.
 Fees and Charges    $1.9 million (16.4%) of      •   Properties and Facilities $34.1k above budget
                     the annual budget of             (33.0% of $236.7k of $716.1k annual budget
                     $11.4 million has been           earned)
                     earned                       •   Development Assessment $27.2k above
                                                      budget (20.2% or $778.5k of $3.8 million
                                                      annual budget earned)
                                                  •   Local Laws $30.1k below budget (3.6% or
                                                      $76.4k of $2.1 million annual budget earned)
 Sale of Goods and   $1.2 million (8.6%) of       •   Holiday Park revenue $91.1k above budget
 Services            the annual budget of             (9.9% or $368.4k of $3.7 million annual budget
                     $13.9 million has been           earned). Any revenue upside will be generally
                     earned                           offset by a corresponding increase in
                                                      associated operating costs
                                                  •   Community Facility fees $35.9k above budget
                                                      (7.95% or $249.0k of $3.1 million annual
                                                      budget earned)
 Interest Received   $0.5 million (16.9%) of      •   Interest revenues are tracking above budget
                     the $2.8 million annual          with investment in higher yielding term
                     budget     has    been           deposits maximising the return on surplus
                     earned                           cash holdings.
 Other Revenue       $0.2 million (8.7%) of       •   Other revenue is in line         with   budget
                     the $2.9 million annual          expectations at this stage
                     budget has been
                     earned
 Operating Grants,   $1.3 million (21.6%) of      •   Operating Grants and subsidies is in line with
 Subsidies           the $6.2 million annual          budget expectations at this stage
                     budget has been              •   100% ($2.0 million) of the financial assistance
                     received                         grant was again prepaid in June 2023 and may
                                                      impact on Council’s 2023/24 final operating
                                                      position if the prepayment approach is
                                                      discontinued by the Australian government.
 Unitywater          On track                     •   Unitywater distributions are fixed each year so
 Distributions                                        there is limited budget variance risk




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