Annual Plan 2016-17 - Approved by Council 27 June 2016
Kingborough Council 2016-17 Annual Plan
Kingborough Council 2016-17 Annual Plan
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The <strong>2016</strong>/<strong>17</strong> underlying deficit is $0.47M compared to a forecasted deficit result for 2015/16 of<br />
$0.92M. This highlights that <strong>Council</strong>’s depreciation charge of $8.38M is only 95 per cent funded at<br />
this stage.<br />
Best practice dictates that net deficits cannot be sustained in the longer term. <strong>Council</strong> has developed<br />
a Long Term Financial <strong>Plan</strong> to achieve a balanced budget <strong>by</strong> 2020, which will ensure ongoing financial<br />
sustainability.<br />
4.3 Revenues<br />
This section analyses the expected revenues of <strong>Council</strong> for <strong>2016</strong>/<strong>17</strong>. The table and graph below<br />
detail <strong>Council</strong>’s key revenue streams over a two year period.<br />
Budget<br />
Forecast<br />
<strong>2016</strong>/<strong>17</strong> 2015/16 Variance<br />
Revenue Type Ref $'000 $'000 $'000<br />
Rates & Levies 4.4 24,937 24,060 877<br />
User Charges and Statutory Fees 4.5 2,751 2,756 (5)<br />
Grants - Operating 4.6 3,782 2,745 1,037<br />
Other Revenue 4.7 2,577 2,499 78<br />
Total Operating Revenue 34,047 32,060 1,987<br />
Interest & Dividends 4.8 2,098 2,100 (2)<br />
Grants - Capital 4.9 1,316 1,140 <strong>17</strong>6<br />
Contributions 4.1 144 144 -<br />
Net Gain From Sale of Assets 4.11 - - -<br />
Non Cash Contributions 4.12 - - -<br />
Total Revenue 37,605 35,444 2,161<br />
Kingborough <strong>Council</strong> <strong>Annual</strong> <strong>Plan</strong> <strong>2016</strong>/<strong>17</strong> Page | 34<br />
<strong>Approved</strong> <strong>by</strong> <strong>Council</strong> on <strong>27</strong> <strong>June</strong> <strong>2016</strong>
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