Financial Performance Report – April 2025

Good Councillors afternoon so the financial performance for the month of April continues to be positive with operating revenues outperforming forecasts and operating expenditures continuing to be below budget at this stage of the financial year operating revenues is 2.2 million dollars above budget and is being driven predominantly through interest revenue of 2.1 million dollars 500,000 from sales of goods and services 458,000 from other revenue 146,000 grant programs. This has been offset by lower than forecast rates revenue 174,000 dollars and Fees and Charges of 728,000 operating expenditures 293,000 under budget with employee costs 654,000 under budget due to staff vacancies savings in work coverage, work cover premiums and the forecast salary increase that was to commence in March this financial year still not yet taking effect due to the ongoing negotiations of Council certified agreement. Once that's finalised that back pay will be funded through those underspends and so that Council won't necessarily require additional budget for that. Materials and services is $605,000 over budget with $760,000 of that relating to civil operations, $234,000 relating to holiday parks which obviously has associated revenue with that and street lighting for $161,000. Finance costs are $225,000 under budget and that's due to the deferral of the waste capital works program to next year. Overall council's year-to-date operating position at April 2025 is two and a half million dollars above budget and this will be used to fund emergent expenditure through to June 2025. Capital revenue is 9.7 million dollars above budget due to the timing of receding of QRA disaster funding and SEQ CSP funding in advance. Capital expenditure is behind budget 48.7 million dollars year-to-date with 15.8 million relating to our base capital program and 32.9 million dollars relating to the disaster projects which are funded by QRA the majority of this relating to with the timing and scheduling of project delivery. Councillor Council is currently holding 114 million with 25.5 million dollars in cash however this will diminish through to 30 June as business as usual operations occur and the capital program is delivered. Overall council's financial performance remains on track subject to any emergent issues that might arise between now and the end of the financial year.