ordinary meeting of council to be held on tuesday, 26 april 2005 at ...

Ordinary Meeting <strong>of</strong> Council - 26 April 2005 3 / 6
Item 3
S03096
21 March 2005
REVENUE
Council’s proposed <strong>to</strong>tal revenue for 2005/2006 is $92,133,500. This represents an increase <strong>of</strong>
$22,842,600 or 32.9 % when compared <strong>to</strong> the Management Plan for 2004/2005. Should the special
rate variation <strong>be</strong> approved this would increase by $1,760,000 <strong>to</strong> $93,893,500.
A summary <strong>of</strong> the major revenue categories is shown <strong>be</strong>low:
Cash In
Management
Plan
2004/2005
$
FUNDING STATEMENT
Revised
Budget
2004/2005
$
N:\050426-OMC-SR-03107-DRAFT MANAGEMENT PLAN 200.doc/lopez /6
Draft Budget
2005/2006
$
Change From
Management
Plan
2004/2005
$
Percentage
Change
Rates 35,330,000 35,354,300 36,554,000 1,224,000 3.5%
Infrastructure Levy 1,704,700 1,704,700 1,767,000 62,300 3.7%
Annual Charges 8,659,100 8,659,100 9,501,200 842,100 9.7%
User Fees & Charges 14,130,500 14,437,400 15,139,600 1,009,100 7.1%
Interest Income 895,000 925,000 1,005,000 110,000 12.3%
Recurrent Grants 4,556,600 4,570,200 4,501,700 (54,900) (1.2)%
Section 94 & CTW 2,000,000 2,000,000 4,700,000 2,700,000 135.0%
Capital Grants 415,000 555,200 565,000 150,000 36.1%
New Loans 1,600,000 1,600,000 1,400,000 (200,000) (12.5)%
Asset Sales 0 0 17,000,000 17,000,000 N/A
Total Cash In 69,290,900 69,805,900 92,133,500 22,842,600 32.9%
Rates
In accordance with Section 506 <strong>of</strong> the Local Government Act, on the 22/3/05 the Minister for Local
Government announced a 3.5% annual rate peg increase for 2005/06. Council’s draft budget has
<strong>be</strong>en developed on an estimate <strong>of</strong> 3.5% and accordingly the rate pegging announcement does not
necessitate any changes <strong>to</strong> the draft budget.
Infrastructure Levy
Council’s Infrastructure Levy is also subject <strong>to</strong> annual rate peg increases. Therefore a 3.5%
increase has <strong>be</strong>en applied <strong>to</strong> the Infrastructure Levy.
Annual Charges - Domestic Waste
Revenue from Domestic Waste annual charges has increased by $842,100 or 9.7%.
The standard garbage charge has increased from $230 in 2004/2005 <strong>to</strong> $250 for 2005/2006. This is
due <strong>to</strong> an increase in costs (brought about by a change in service levels) in relation <strong>to</strong> Council’s new
ten year contract with Collex Waste Management. The increased costs <strong>of</strong> the service will <strong>be</strong> phased