Council finances for year's end are looking in 'the pink'
NOOSA has last financial year saw an $8.6 million operating surplus and council is tracking well again this year.
And more recently, the December Noosa Council financial report said the actual year to date operating financial performance aligns with the budget for the first half of the financial year as operating revenue continuing to track slightly above target and operating expenditure slightly below.
Council's 2017-18 budget review said cash and debt levels have increased and decreased respectively over the last three years, stabilising between 2017 and 2018. The council as of July had more than $60 million in cash and the debt level had fallen below $40 million where it sat in 2015.
To December, the council has received 51 per cent or $48.9 million of its operating revenue budget set at $96 million.
Council financial services manager Trent Grauf said $33.2 million (50 per cent) of the rates and levies annual budget of $66.6 million has already been collected.
He said overall, rates and levies earned are slightly below year to date budget, with general rates $59,000 below due to successful 2018 valuation appeals by a number of commercial properties.
Mr Grauf said $15.2 million (47 per cent) has been spent in employee costs of the annual budget of $32.3 million budgeted.
He said under expenditure for permanent staff salaries and wages ($1.2 million) has been partially offset by an additional spend on casual staff and external labour hire ($466,000), and sick and personal leave higher than the year to date budget ($340,000).
To December, $2.2 million of capital revenue received was made up of $944,000 developer charges and $1.3 million in capital grants.
The actual capital expenditure excluding commitments is $16.7 million behind the year to date budget of $18.5 million, while the total cash on hand at the end of December had fallen to $56 million.