Attachments - City of Busselton

COUNCIL 24/04/2013
ITEM 9.2 ATTACHMENT
46
Finance Committee 04/04/2013
• Land and Buildings
• Plant and Equipment
• Furniture and Equipment
• Infrastructure
In addition to the above, the following reports provide further information considered of relevance:
Reserve Movements Report
This report provides summary details of transfers to and from reserve funds, and also associated
interest earnings on reserve funds, on a year to date basis.
Reserve Transfers to Municipal Fund
This report provides specific detail in respect of expenditures being funded from reserves.
A number of supplementary financial management reports/ charts are also provided as appropriate,
to further assist the Council in reviewing the City’s overall financial performance.
COMMENTS ON FINANCIAL ACTIVITY TO 28 FEBRUARY 2013
Operating Activity
• Operating Revenue
As at 28 February 2013, there is a variance of some ‐1.2% in total operating revenue, with the
following categories exceeding the 10% material variance threshold as at the reporting date:
Description
Variance
Operating Grants, Subsidies & Contributions +78%
Non‐Operating Grants, Subsidies & Contributions ‐30%
Profit on Asset Disposal ‐49%
The variance of +$1.5M in ‘Operating Grants, Subsidies and Contributions’ primarily relates to the
reimbursement of claimable costs associated with the 2012 storm event. This revenue largely offsets
the storm clean‐up costs which are allocated within the ‘Other Expenditure’ operating expenditure
activity.
The variance of ‐$2.4M in ‘Non‐Operating Grants, Subsidies and Contributions’ is primarily
attributable to current timing differences in respect to the receipt of budgeted grant funds.
Examples include the Busselton Foreshore, Geothermal Project, Boat Ramp facilities and road
construction related grants.
Finally, the variance of ‐$28K in the ‘Profit on Asset Disposal’ activity is primarily attributable to
timing differences in the associated ‘Plant and Equipment’ capital expenditure budget, albeit this
revenue is ‘non‐cash’ in nature.
• Operating Expenditure
As at 28 February 2013, there is a variance of some ‐2.7% in total operating expenditure, with the
following categories exceeding the 10% material variance threshold as at the reporting date: