AHEAD OF BUDGET
The latest Financial Report shows Council’s 2015/16 Budget remains on track to outperform forecast projections, according to the DSC chief executive’s report tabled at this week’s meeting. Operating revenue for the period ended 29 February 2016 details operating revenue currently exceeding budget expectations by $651,000. Operating expenditure is well under budget and the operating surplus is currently $7.6 million compared to a budgeted surplus of $4.8 million. Most categories of year-to-date operating revenue are ahead of budget, with net rates and utility charges $137,000 ahead, mostly due to greater than anticipated revenue as a result of growth. Fees and charges are $379,000 ahead of budget, due to ferry fares ($203,000), building and property-related fees ($71,000) and licences and other fees ($105,000).