2017-04-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                  18 APRIL 2017


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 18 April 2017 providing the March YTD monthly financial performance report for
the 2016/17 financial year.

REPORT
Operating Revenue (YTD Benchmark 75% - 9 months)
Council has recognised 94% ($84 million) of its operating revenue budget of $89 million as at the
end of March 2017. Commentary on each revenue category is provided below:
   Rates and Levies – $62.4m (100%) of the annual budget of $62.3m has been earned, with
     general rates received for the year above budget by $69k.
   Fees and Charges – Fees and charges earned ($4.3m) totals 98% of the full year forecast.
     Planning Material Change of Use ($307k), Planning Lot Reconfiguration ($43k), and
     Planning Operational Works fees ($100k), Plumbing Inspection fees ($30k), Parking Fees
     ($62k) and Infringements ($47k), Change of Property Ownership fees ($57k) and Property
     Search fees ($86k) all currently exceed YTD budget.
   Interest Received – $3.6m earned totals 84% of the full-year budget ($4.3m) - Interest on
     invested funds is currently $197k ahead of revised YTD forecast levels; with interest from
     shareholder loans ahead of the YTD budget by $85k. Interest on outstanding rates is $50k
     ahead of the YTD budget.
      Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in
        line with YTD budget.
      Other Revenue – Other revenue earned ($8.4m) totals 87% of the full year forecast. Sale of
        Waste Recyclables ($234k), Waste Landfill Fees ($81k) auction proceeds ($47k), Lease
        revenue ($172k), Holiday Park fees ($190k), Noosa Leisure Centre activities ($38k), The J
        ($28k), and Noosa Aquatic Centre revenues ($121k) are all above YTD budget.
      Grants, Subsidies & Contributions – $3.94m received represents 70% of the full-year
        budget ($3.89m) - Receipts for operational grants $36k ahead of YTD budget, related to
        $7k from RADF, $4k for Library Literary grant not budgeted, and $26k operational funding
        for Noosa Community Support; and the balance represented by an unbudgeted
        contribution of $13k for Noosa Community Support.

Figure 2: Operating Revenue Position by Type (Excluding Rates)
 $9.0
 $8.0                              YTD Budget ($m)
                                   YTD Actual ($m)
 $7.0
 $6.0
 $5.0
 $4.0
 $3.0
 $2.0
 $1.0
 $0.0
                                                        Other
             Fees




                                                                  Grants
                        Dividend




                                                Tax
                                     Interest




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