2017-04-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      18 APRIL 2017


Recurrent Expenditure (YTD Benchmark 75% - 9 months)

Operating expenditure is currently 71% of the full year budget forecast. Detailed commentary for
each expenditure category appears below:

 Employee Costs – Actuals of $20.7m against the YTD budget of $20.7m and equates to 72%
   of the full year budget. This is represented by a number of variations over/under budgets,
   including an under-expenditure of the training allocation ($124k), a rebate for Work Cover
   premiums ($38k), and recovery from labour allocations to capital projects exceeding budget
   ($223k), partially offset by one off organisation restructure costs of $184k.
 Materials and Services – $27.4m (68% of the full year budget) has been expended compared
   to the YTD budget of $28.1m. Year to date variances primarily relate to contract services
   budgets, specifically under expenditure in electricity costs ($148k); insurance costs ($17k);
   Waste operations ($222k); ICT Operations ($64k); Fleet & Plant operations ($41k); Library
   Services ($56k); and Civil Works is below budget ($208k). Planning costs are currently ahead
   of budget by $354k due to significant additional legal costs relating to Noosa Civic.
 Finance Costs – bank merchant fees ($11k) and interest on loans ($74k) are currently below
   the YTD budget.
 Depreciation expenses – actual depreciation exceeds YTD budget by $321k due to 2015/16
   revaluation impacts being higher than budgeted.
 Other Expenses – generally in accordance with YTD budget.

Figure 3: Recurrent Expenditure Position by Type
 $30

                                                      YTD Budget ($m)
 $25
                                                      YTD Actual ($m)
 $20

 $15

 $10

  $5

  $0
                                      Finance Costs
                         Materials




                                                               Depreciation
            Employees




                                                                              Other




Capital Revenue

YTD capital revenue of $7.6m received includes $2.7m of cash contributions from developers,
contributed assets of $3.4m (new infrastructure assets provided as a condition of development),
together with $1.6m received as grant funding towards capital projects, including $200k (TIDS);
$153k (Natural Disaster Relief and Recovery); $303k (Rufous Street Project); $75k (Natural
Disaster Resilience Program – Flood studies and flood gauges); $275k (Bus Shelter Disability
Upgrade program); $288k (Cycle Network Program); and $11k Road Safety Grant.




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