Coun­cil yields $7.1m sur­plus for 2017/18

Alpine Observer - - News -

ALPINE Shire Coun­cil ended the last fi­nan­cial year with a sur­plus of $7.1 mil­lion.

It was $4.4 mil­lion more than the $2.7 mil­lion sur­plus pro­jected in the 2017/18 bud­get.

Coun­cil­lors were last night told the favourable fig­ure was largely due to coun­cil re­ceiv­ing ad­di­tional in­come of $4.7 mil­lion.

Coun­cil re­ceived $31.5 mil­lion in to­tal in­come last year which com­pared to a pro­jec­tion of $26.8 mil­lion.

Over­all ex­penses were $24.4 mil­lion which was $300,000 higher than what was an­tic­i­pated.

This was pri­mar­ily due to as­set reval­u­a­tions re­sult­ing in as­set write-offs of $400,000 and a net loss on dis­posal of prop­erty, in­fra­struc­ture, plant and equip­ment of $800,000.

Alpine Shire Coun­cil act­ing di­rec­tor cor­po­rate Emma Woolas­ton said ex­penses were also par­tially off­set by sav­ings in em­ployee costs and ma­te­ri­als and ser­vices.

“Em­ployee costs were lower than bud­geted by $600,000 due to the on­go­ing im­pact of va­cant po­si­tions, the ma­jor­ity of which are now filled,” she said.

“Other sig­nif­i­cant ar­eas which were favourable to bud­get in­cluded lower than ex­pected as­set main­te­nance costs which were $200,000 lower than the bud­get of $2.7 mil­lion.”

More than half of coun­cil’s to­tal in­come was rates and charges of $17.8m which was $300,000 favourable to bud­get due to un­bud­geted sup­ple­men­tary de­vel­op­ment in the Alpine Shire.

Coun­cil also re­ceived to­tal grant in­come, both op­er­at­ing and cap­i­tal, of $9 mil­lion which was $2.8 mil­lion favourable to bud­get.

“Ma­jor con­trib­u­tors to the favourable re­sult in­cluded early re­ceipt of half of the 2018/19 Vic­to­rian Grants Com­mis­sion grant, be­ing an un­bud­geted pay­ment of $1.9 mil­lion,” Ms Woolas­ton said.

“A Roads to Re­cov­ery grant that was $600,000 higher than ex­pected, and un­bud­geted grants, in­clud­ing, $500,000 for Alpine Bet­ter Places Myr­tle Street, $500,000 for the up­grade of the Myrtle­ford Li­brary, $200,000 for the Mt Buf­falo Busi­ness Case As­sess­ment and Ac­ti­va­tion to go with $100,000 for the Eurobin Flood By­pass.”

These gains were par­tially off­set by grants which had been bud­geted for 2017/18 but which were re­ceived in late 2016/17, in­clud­ing $200,000 for the Alpine Bet­ter Places Mafek­ing Square project and Mt Beauty Pool Up­grade.

Coun­cil re­ceived $700,000 in statu­tory fees and fines which were $200,000 up on pro­jec­tions due to higher than an­tic­i­pated prop­erty de­vel­op­ment while $600,000 re­ceived in non-mon­e­tary con­tri­bu­tions was $400,000 more than bud­geted due to higher than ex­pected de­vel­op­ment ac­tiv­ity in the Alpine Shire.

Other in­come saw $1.2 mil­lion for in­creases in valu­a­tions of in­vest­ment prop­er­ties, in­clud­ing the Myrtle­ford Hol­i­day Park and the Bright Hol­i­day Park which was favourable by $400,000.

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