Council yields $7.1m surplus for 2017/18
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.