$100M $200M $300M $400M 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 CHART TITLE
Written Down Value ($M) Current Replacement Cost ($M)
Written Down Value V's Current Replacement Cost ($M)
0% 20% 40% 60% 80% 100% 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 CHART TITLE
Advanced Standard Basic Standard Standard Not Met Asset Consumption Ratio
Key Performance Indicator: Asset Consumption Ratio (%)
Measuring Sustainability
10.7
ASSET RENEWAL FUNDING RATIO
DefinitionThe Asset Renewal Funding Ratio (Ref. [11], p7) indicates whether the City has the financial capacity to fund asset renewal as required, and can continue to provide existing levels of services in future, without: (a) additional operating income, or (b) reductions in operating expenses, or (c) an increase in net financial liabilities above that currently projected.
Calculation
This ratio is calculated as the "Net Present Value (NPV) of planned capital expenditure based on current Departmental guidance on renewals over ten years divided by the NPV of the required capital expenditures on renewals over the same period".
Statutory Standards
Standard is not met if ratio data cannot be identified or ratio is less than 75 %. The Basic Standard is met if ratio data can be identified and ratio is between 75 % and 95 %. An Advanced Standard is met if this ratio is between 95 % and 105 % and the Asset Sustainability Ratio falls within the range 90 % to 110 % and Asset Consumption Ratio falls within the range of 50 % to 75 %.
Ratio
Table 10-1 below shows the NPV of the 10 year planned renewal expenditure, the NPV of the 10 year required renewal expenditure, and the calculated Asset Renewal Funding Ratio. A ratio of 122 % confirms the City is financially sustainable in the short to medium term15
.
Table 10-1 Key Performance Indicator: Asset Renewal Funding Ratio (%)
Criteria and Asset Renewal Funding Ratio Calculations
NPV of Planned Renewal Expenditure Over 10 Years $54.3M
NPV of Required Renewal Expenditure Over 10 Years (from SAMP Projections) $44.4M
Asset Renewal Funding Ratio (%) 122%
15
The Asset Renewal Funding Ratio is substantially higher than the ratio reported in the 2012-22 SFP. This is likely due to the accuracy of the renewal modelling undertaken for the Strategic Asset Management Plan which was based on preliminary (best available) asset data. The SAMP is being reviewed in early 2014 and the revised predicted expenditure will be included in the 2014 revision of this SFP.
Risk Assessment
11 Risk Assessment
The City's Workforce Plan, ICT Plan and Strategic Asset Management Plan identify risks that are critical to the City's operations and outlines risk management strategies for these.
The major risks associated with long term financial planning relate to delays in major projects, the viability of a project if it relies on land acquisition or disposals which may be affected by land price movements and external funding of projects. The City manages its investment properties as a commercial land and property portfolio supported by investment reserves. They are not reliant on operational funding or effected by operational activities. The risk is one of delays and adjustments to priorities and is therefore considered low.
A number of building projects are included each year in the SFP. All of these are proposed to be undertaken on land owned by the City or Crown Land managed by the City. The developments will not require external approvals and are being funded through reserve funding or debt funding or both, with minor reliance on grants. The risk associated with these is therefore low.
The City has an extensive infrastructure renewal program which includes some external funding. If that funding reduces or is not made available to the City, then the timing of the works will need to be reviewed. The risk is one of delays and adjustments to priorities and is therefore considered low.
Interest rates on borrowings and on investments are predicted to be relatively constant over the life of the SFP. If adverse changes in rates occur this may impact on the City's revenues and future project costs. The risk is considered low.
The previous SFP provided for the future redevelopment of the administration building. Due to the uncertainty associated with structural reform this has been removed in the current plan. If a new building is required this will be the responsibility of the newly amalgamated organisation. The risk associated with this is therefore considered low. No other major risks have been identified.
12 Scenario Modelling and Sensitivity
Analysis
A number of scenarios were developed using different assumptions and changes in variables to determine how the City could deliver the required services and projects identified in the Corporate Business Plan and maintain assets to the required community standard.
Various scenario were considered based on different mixes of loans and reserve funding, no change in service levels, a 1 %, 2 % and 3 % rate increase per annum above inflation LGCI, a balanced budget for the life of the SFP but with the same level of operating and capital expenditure across all scenarios. This resulted in unsustainable asset renewal levels and an inability to fund specific projects in the required years.
A final scenario is the basis of this plan (and detailed in the financial statements attached). The assumptions on which this scenario was prepared are detailed within the SFP. This scenario is considered most beneficial to achieve required service delivery levels and outcomes of the Strategic Community Plan and Corporate Business Plan.
The most sensitive criterion in the adopted model is a variation in the level of proposed rate increases, being 5.5 % in year one and held constant for the remaining years. Source: http://www.worldenergy.org/ wp-content/uploads/2013/06/ Source: http://bcalliance- international.com/static/files/ riskmanagement_Cubes1_4lettercubes.jpg
Financial Projections
13 Financial Projections
Source: http://crsfinmgmt.com/stage/wp-content/uploads/2011/01/analysis-projections.jpg The financial projections in this SFP have been developed in a format that conforms to the Local Government (Financial Management) Regulations 1996 (Ref. [10]) and Australian Accounting Standards. This format has been chosen as it allows projections to feed into the statutory format of the Annual Budget and key performance measures in the SFP to be compared with Annual Budgets and Annual Financial Reports. The Statutory schedules include:
• Statement of Financial Position (Balance Sheet) and Equity Statement • Statements of Comprehensive Income
• Statement of Cash Flows • Rate Setting Statements
The Statement of Comprehensive Income shows what is expected to happen during the year in terms of revenue, expenses and other adjustments from all activities. A surplus is estimated for each year of the SFP once allowing for underground power expenditure which is funded from loans.
The Statement of Financial Position is a snap-shot of the expected financial position of the City at the end of the financial year. It reports what is expected to be owned (assets) and what is expected to be owed (liabilities). The bottom line "Net Assets" represents the net worth of the Council. The assets and liabilities are separated into current and non-current. Current means those assets or liabilities which will fall due in the next 12 months. Non-current refers to assets and liabilities that are recoverable or which fall due over a longer period than 12 months.
The Statement of Cash Flows shows what is expected to happen during the year in terms of cash. The net cash provided by operating activities shows how much cash is expected to remain after paying for the services provided to the community. This can be used to fund other activities such as capital works and infrastructure. The information in this statement assists in the assessment of the ability to generate cash flows and meet financial commitments as they fall due, including debt repayments.
The format of the Rate Setting Statements are consistent with the format of the statement prepared in Annual Budgets. In the rate setting statement by program, the bottom line of the statement is the amount to be made up from rates. In the rate setting by nature and type, rates are shown as a revenue stream with all other sources of revenue, so that if a surplus results, this can be used to fund other services. However, where a shortfall results, this indicates that the Council is unable to fund the services proposed at the planned rating levels and may need to defer works or services, increase debt or increase rates even further to cover the cost of planned service provision. In the SFP the Rate Setting Statements show the accumulated surplus carried forward at the end of each year.
The statements are supported by schedules: • Capital Funding Summary
• Cash Reserves Summary • Loan Summary (Borrowings) • Rates Summary
• Asset Summary
• Ratios - Key Performance Indicators • Statutory Notes to the Statements
Conclusions
14 Conclusions
The SFP forms the basis for the draft Annual Budget for 2014-15 and subsequent years and it is expected that adopted budgets will be closely aligned with the proposals in the SFP and assumptions underpinning this plan.
Review of the SFP will occur each year as budgets are prepared to account for performance information and changing circumstances. A full review was undertaken this year in conjunction with formal reviews of the Corporate Business Plan.
The City is confident that the SFP will allow the City to set priorities within its resourcing capabilities to sustainably deliver the assets and services required by the community.
Financial Statements
A. Financial Statements
Section
Section
Section
Section
PagePagePagePage
A.1 Statement of Financial Position (Balance Sheet) and Equity Statement ...54 A.2 Statement of Cash Flows ...56 A.3 Rate Setting Statement ...58 A.4 Rate Setting Statement by Nature or Type ...60 A.5 Statement of Comprehensive Income (By Program) ...62 A.6 Statement of Comprehensive Income (By Nature and Type) ...64
Financial Statements
Financial Statements: A.1 STATEMENT OF FINANCIAL POSITION (BALANCE SHEET) AND EQUITY STATEMENT
City of Subiaco
Statement of Financial Position
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Note 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
CURRENT ASSETS
Cash & Cash Equivalents 34,959,949 21,722,075 17,166,823 13,835,994 28,328,599 27,434,028 14,033,083 12,574,204 13,094,212 14,026,396
Financial Assets 0 0 0 0 0 0 0 0 0 0
Trades and Other Receivables 5,442,293 7,011,082 8,392,329 9,549,894 10,532,116 11,297,242 11,789,394 12,041,688 12,180,207 12,656,689
Total Current Assets 40,402,243 28,733,157 25,559,153 23,385,889 38,860,715 38,731,271 25,822,477 24,615,893 25,274,419 26,683,085
NON CURRENT ASSETS
Property, Plant & Equipment 32,133,546 38,698,236 43,945,166 46,246,356 47,159,686 48,361,526 63,030,566 65,855,156 67,572,046 98,760,936
Investment Properties 131,918,852 136,918,852 136,918,852 136,918,852 121,918,852 121,918,852 121,918,852 121,918,852 121,918,852 91,918,852
Infrastructure 60,840,476 64,647,376 68,433,276 71,301,176 73,907,076 77,147,976 80,188,876 83,574,776 87,060,676 90,796,576
Other Receivables 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058 15,634,058
Investments - accounted for using the equity method 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841 2,255,841
Total Non Current Assets 242,782,772 258,154,362 267,187,192 272,356,282 260,875,512 265,318,252 283,028,192 289,238,682 294,441,472 299,366,262
TOTAL ASSETS 283,185,015 286,887,519 292,746,345 295,742,171 299,736,227 304,049,523 308,850,669 313,854,575 319,715,891 326,049,347
CURRENT LIABILITIES
Trades and Other Payables (6,148,552) (6,668,899) (7,188,129) (7,705,859) (8,224,088) (8,741,818) (9,260,048) (9,777,777) (10,296,007) (10,813,737)
Provisions (3,520,875) (3,845,875) (4,170,875) (4,495,875) (4,820,875) (5,145,875) (5,470,875) (5,795,875) (6,120,875) (6,445,875)
Borrowings Loan Schedule (816,850) (908,620) (1,420,480) (1,291,470) (1,409,760) (1,520,890) (515,790) (546,840) (579,790) (585,960)
Total Current Liabilities (10,486,276) (11,423,394) (12,779,484) (13,493,203) (14,454,723) (15,408,583) (15,246,712) (16,120,492) (16,996,672) (17,845,571)
NON CURRENT LIABILITIES
Provisions (608,782) (608,782) (608,782) (608,782) (608,782) (608,782) (608,782) (608,782) (608,782) (608,782)
Borrowings Loan Schedule (10,660,229) (10,659,839) (8,727,499) (7,565,039) (6,036,989) (4,404,969) (4,894,279) (4,316,389) (3,703,649) (3,111,519)
Total Non Current Liabilities (11,269,011) (11,268,621) (9,336,281) (8,173,821) (6,645,771) (5,013,751) (5,503,061) (4,925,171) (4,312,431) (3,720,301)
TOTAL LIABILITIES (21,755,287) (22,692,015) (22,115,764) (21,667,024) (21,100,494) (20,422,333) (20,749,773) (21,045,663) (21,309,102) (21,565,872) NET ASSETS 12 261,429,728 264,195,504 270,630,580 274,075,147 278,635,733 283,627,189 288,100,896 292,808,912 298,406,788 304,483,475 258,575,501 261,226,947 263,922,983 270,234,419 274,377,765 279,129,881 284,380,327 289,284,623 294,370,759 0 2,854,226 2,968,557 6,707,597 3,840,727 4,257,968 4,497,308 3,720,568 3,524,289 4,036,029 304,483,475 EQUITY Accumulated Surplus (115,699,832) (130,979,279) (141,406,095) (147,888,761) (137,803,128) (143,759,364) (161,959,850) (168,693,677) (174,471,583) (179,978,409) Revaluation Surplus (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273)
Cash Backed Reserves Reserves Schedule (29,739,623) (17,225,953) (13,234,213) (10,196,113) (24,842,333) (23,877,553) (10,150,773) (8,124,963) (7,944,933) (8,514,793)
TOTAL EQUITY (261,429,728) (264,195,504) (270,630,580) (274,075,147) (278,635,733) (283,627,190) (288,100,896) (292,808,912) (298,406,789) (304,483,475)
(258,575,501) (261,226,947) (263,922,983) (270,234,419) (274,377,765) (279,129,881) (284,380,327) (289,284,623) (294,370,759) 0
City of Subiaco
Statement of Changes in Equity
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 Cash Backed Reserves
Balance at beginning of year (11,233,013) (29,739,623) (17,225,953) (13,234,213) (10,196,113) (24,842,333) (23,877,553) (10,150,773) (8,124,963) (7,944,933)
Amount transferred to reserves (31,003,470) (9,607,500) (10,369,390) (7,531,800) (23,357,880) (8,597,720) (8,277,590) (8,579,110) (8,917,190) (39,235,450)
Amount transferred from reserves 12,496,860 22,121,170 14,361,130 10,569,900 8,711,660 9,562,500 22,004,370 10,604,920 9,097,220 38,665,590
Balance at end of period (29,739,623) (17,225,953) (13,234,213) (10,196,113) (24,842,333) (23,877,553) (10,150,773) (8,124,963) (7,944,933) (8,514,793)
Revaluation Surplus
Balance at beginning of year (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273)
Amount transferred to reserves 0 0 0 0 0 0 0 0 0 0
Amount transferred from reserves 0 0 0 0 0 0 0 0 0 0
Balance at end of period (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273) (115,990,273)
Accumulated Surplus
Balance at beginning of year (133,494,096) (115,699,832) (130,979,279) (141,406,095) (147,888,761) (137,803,128) (143,759,364) (161,959,850) (168,693,677) (174,471,583)
Net result from operations (712,346) (2,765,776) (6,435,076) (3,444,566) (4,560,586) (4,991,456) (4,473,706) (4,708,016) (5,597,876) (6,076,686)
Changes to Equity **
Less net amount transferred to reserves 18,506,610 (12,513,670) (3,991,740) (3,038,100) 14,646,220 (964,780) (13,726,780) (2,025,810) (180,030) 569,860
Balance at end of period (115,699,832) (130,979,279) (141,406,095) (147,888,761) (137,803,128) (143,759,364) (161,959,850) (168,693,677) (174,471,583) (179,978,409)
Financial Statements: A.2 STATEMENT OF CASH FLOWS
City of Subiaco
Statement of Cash Flows
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Note 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 CASH FLOWS FROM OPERATING ACTIVITIES
Receipts
Rates levies 20,553,087 21,019,556 21,494,850 21,979,156 22,472,656 22,975,516 23,487,924 24,010,056 24,456,437 24,509,577 Sanitation charges 4,629,863 4,660,294 4,691,820 4,724,474 4,758,284 4,793,274 4,829,476 4,866,914 4,889,303 4,836,164 Fees & Charges 13,793,308 14,009,960 14,494,462 14,484,054 14,353,088 14,321,492 14,230,868 14,297,314 14,301,160 14,265,316
Interest earned 2,590,060 1,214,520 1,060,990 944,150 1,507,470 1,470,380 942,410 864,500 857,580 879,470
Grants, subsidies & contributions- operating 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 1,418,527 Reimbursements and Donations 277,300 277,300 3,277,300 277,300 277,300 277,300 277,300 277,300 277,300 277,300
All other revenue 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960
Total Receipts 44,005,105 43,343,117 47,180,909 44,570,621 45,530,285 45,999,449 45,929,465 46,477,571 46,943,267 46,929,314 Less Payments
Employee costs (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) (22,019,465) Materials & contracts
Interest payments (652,670) (722,110) (638,460) (595,000) (519,300) (434,500) (345,290) (314,230) (281,290) (246,490) Utility charges (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) Donations, contributions and grants made (4,464,450) (1,494,450) (1,464,450) (1,494,450) (1,464,450) (1,494,450) (1,464,450) (1,494,450) (1,464,450) (1,494,450) All other costs (13,053,563) (13,015,147) (12,960,365) (12,886,865) (12,911,365) (12,886,865) (12,911,365) (12,886,865) (12,911,365) (12,886,865)
Total Payments (41,237,898) (38,298,922) (38,130,490) (38,043,530) (37,962,330) (37,883,030) (37,788,320) (37,762,760) (37,724,320) (37,695,020)
Net Cash Provided By Operating Activities 15 2,767,207 5,044,195 9,050,419 6,527,091 7,567,955 8,116,419 8,141,145 8,714,811 9,218,947 9,234,294 CASH FLOWS FROM INVESTING ACTIVITIES
Receipts
Grants and contributions for the development of assets 16 1,264,000 1,289,500 1,139,000 894,000 1,145,000 1,244,000 975,000 875,000 1,375,000 1,500,000 Proceeds from sale of fixed assets
Proceeds on disposal of land Asset Schedule 23,500,000 3,000,000 0 0 15,000,000 0 0 0 0 30,000,000
Proceeds on disposal of buildings Asset Schedule 0 0 0 0 0 0 0 0 0 0
Proceeds on disposal of plant and equipment Asset Schedule 514,000 552,000 536,000 367,000 470,000 415,000 689,000 354,000 572,000 407,000
Proceeds on disposal of furniture and equipment Asset Schedule 0 0 0 0 0 0 0 0 0 0
Proceeds on disposal of infrastructure Asset Schedule 0 0 0 0 0 0 0 0 0 0
Total Receipts 25,278,000 4,841,500 1,675,000 1,261,000 16,615,000 1,659,000 1,664,000 1,229,000 1,947,000 31,907,000 Payments
Payments for purchase/construction of Land Asset Schedule 0 (8,000,000) 0 0 0 0 0 0 0 0
Payments for purchase/construction Buildings Asset Schedule (6,145,000) (5,919,000) (5,343,000) (2,255,000) (867,000) (965,000) (14,205,000) (2,720,000) (1,120,000) (31,120,000) Payments for purchase/construction of Furniture Asset Schedule (913,350) (897,950) (779,100) (935,450) (978,200) (945,100) (854,300) (838,150) (838,150) (863,150) Payments for purchase/construction of Plant & Equipment Asset Schedule (1,510,000) (2,147,000) (1,508,090) (1,325,000) (1,385,390) (1,554,000) (2,146,000) (1,467,700) (2,178,000) (1,460,000) Payments for purchase/construction of infrastructure assets Asset Schedule (5,720,000) (6,251,000) (6,230,000) (5,312,000) (5,050,000) (5,685,000) (5,485,000) (5,830,000) (5,930,000) (6,180,000)
Net Proceeds from financial assets 0 0 0 0 0 0 0 0 0 0
Total Payments (14,288,350) (23,214,950) (13,860,190) (9,827,450) (8,280,590) (9,149,100) (22,690,300) (10,855,850) (10,066,150) (39,623,150)
Net cash used in investing activities 10,989,650 (18,373,450) (12,185,190) (8,566,450) 8,334,410 (7,490,100) (21,026,300) (9,626,850) (8,119,150) (7,716,150)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from loans Loan Schedule 4,600,000 1,000,000 0 0 0 0 0 0 0 0
Repayment of loans Loan Schedule (816,850) (908,620) (1,420,480) (1,291,470) (1,409,760) (1,520,890) (515,790) (546,840) (579,790) (585,960)
Net cash used in financing activities 3,783,150 91,380 (1,420,480) (1,291,470) (1,409,760) (1,520,890) (515,790) (546,840) (579,790) (585,960)
Cash at the beginning of the year 17,419,942 34,959,949 21,722,075 17,166,823 13,835,994 28,328,599 27,434,028 14,033,083 12,574,204 13,094,212 Net increase (decrease) in cash held 17,540,007 (13,237,875) (4,555,251) (3,330,829) 14,492,605 (894,571) (13,400,945) (1,458,879) 520,007 932,184 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 34,959,949 21,722,075 17,166,823 13,835,994 28,328,599 27,434,028 14,033,083 12,574,204 13,094,212 14,026,396
NOTES TO THE STATEMENT OF CASH FLOWS 15
Reconciliation of cash
Cash at bank - operating 3,935,567 3,211,362 2,647,851 2,355,122 2,201,507 2,271,716 2,597,551 3,164,482 3,864,519 4,796,703 Cash at bank - restricted - reserves 29,739,623 17,225,953 13,234,213 10,196,113 24,842,333 23,877,553 10,150,773 8,124,963 7,944,933 7,944,933 Cash at bank - restricted - other 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759 1,284,759
Total cash 34,959,949 21,722,075 17,166,823 13,835,994 28,328,599 27,434,028 14,033,083 12,574,204 13,094,212 14,026,396
Note: The cash at the end of the year has been adjusted for Trust entries of: 0 0 0 0 0 0 0 0 0 0
Reconciliation of net cash used in operating activities to changes in net assets arising from operations
Operating result 712,346 2,765,776 6,435,076 3,444,566 4,560,586 4,991,456 4,473,706 4,708,016 5,597,876 6,076,686
Government revenues adjustment (1,264,000) (1,289,500) (1,139,000) (894,000) (1,145,000) (1,244,000) (975,000) (875,000) (1,375,000) (1,500,000)
Write back depreciation 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 Write back Gains on Disposal of Assets (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) Write back Losses on Disposal of Assets 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160
(Increase) / Decrease in Rates Debtors (784,480) (594,290) (397,250) (193,160) 18,150 236,840 463,100 697,090 837,020 504,901 (Increase) / Decrease in Sundry Debtors (892,016) (901,141) (918,316) (904,566) (912,366) (915,816) (895,499) (893,528) (920,028) (924,778) (Increase) / Decrease in Accrued revenue (129,503) (60,726) (53,050) (47,208) (75,374) (73,519) (47,121) (43,225) (42,879) (43,974) (Increase) / Decrease in Prepayments (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (10,000) (Increase) / Decrease in Inventory (2,632) (2,632) (2,632) (2,632) (2,632) (2,632) (2,632) (2,632) (2,632) (2,632) (Increase) / Decrease in Reval of Plant & Equipment
Increase / (Decrease) in Employee Entitlements (Accruals and Provisions) 392,235 392,235 392,235 392,235 392,235 392,235 392,235 392,235 392,235 392,235 Increase / (Decrease) in Creditors 253,897 253,113 251,995 250,495 250,995 250,495 250,995 250,495 250,995 250,495 Increase / (Decrease) in Income in Advance 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000
Financial Statements: A.3 RATE SETTING STATEMENT
City of Subiaco Rate Setting Statement
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Note 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
OPERATING EXPENDITURE
General Purpose Funding (1,066,620) (1,095,310) (1,070,350) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130) Governance (1,805,870) (1,868,330) (1,810,120) (1,837,620) (1,807,620) (1,837,620) (1,807,620) (1,837,620) (1,807,620) (1,837,620) Law Order & Public Safety (1,198,100) (1,209,390) (1,199,560) (1,198,690) (1,198,690) (1,198,690) (1,198,690) (1,198,690) (1,198,690) (1,198,690) Health (716,860) (721,410) (717,450) (717,100) (717,100) (717,100) (717,100) (717,100) (717,100) (717,100) Education & Welfare (3,152,620) (3,171,730) (3,155,090) (3,153,630) (3,153,630) (3,153,630) (3,153,630) (3,153,630) (3,153,630) (3,153,630) Community Amenities (6,687,305) (6,717,625) (6,691,235) (6,688,895) (6,688,895) (6,688,895) (6,688,895) (6,688,895) (6,688,895) (6,688,895) Recreation & Culture (14,029,360) (14,174,560) (14,123,620) (14,104,160) (14,088,420) (14,071,740) (14,054,020) (14,035,230) (14,015,300) (13,994,140) Transport (9,913,183) (9,801,593) (9,864,703) (9,809,593) (9,807,483) (9,805,263) (9,802,913) (9,800,433) (9,797,813) (9,795,193) Economic Services (5,474,350) (2,319,540) (2,295,750) (2,263,370) (2,230,520) (2,139,620) (2,095,480) (2,060,690) (2,075,300) (2,039,280) Other Property & Services (2,198,490) (2,223,510) (2,205,570) (2,203,800) (2,203,800) (2,203,800) (2,203,800) (2,203,800) (2,203,800) (2,203,800)
Total Operating Expenditure 1,2 (46,242,758) (43,302,998) (43,133,448) (43,044,988) (42,964,288) (42,884,488) (42,790,278) (42,764,218) (42,726,278) (42,696,478)
CAPITAL WORKS PROGRAMME Capital Expenditure
Land and Buildings Land & Property (6,145,000) (13,919,000) (5,343,000) (2,255,000) (867,000) (965,000) (14,205,000) (2,720,000) (1,120,000) (31,120,000) Furniture and Equipment Schedule (913,350) (897,950) (779,100) (935,450) (978,200) (945,100) (854,300) (838,150) (838,150) (863,150) Plant and Equipment (1,510,000) (2,147,000) (1,508,090) (1,325,000) (1,385,390) (1,554,000) (2,146,000) (1,467,700) (2,178,000) (1,460,000)
Subtotal (8,568,350) (16,963,950) (7,630,190) (4,515,450) (3,230,590) (3,464,100) (17,205,300) (5,025,850) (4,136,150) (33,443,150)
Infrastructure Expenditure
Road Works (2,860,000) (3,016,000) (3,240,000) (2,822,000) (2,565,000) (2,615,000) (2,530,000) (2,615,000) (2,615,000) (2,615,000) Landscape & Irrigation Works Capital (150,000) (150,000) (150,000) (150,000) (160,000) (170,000) (180,000) (190,000) (290,000) (290,000) Drainage Works Works (1,050,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) Footpath Works Schedule (200,000) (200,000) (205,000) (200,000) (200,000) (200,000) (200,000) (200,000) (225,000) (225,000) Street Lighting (220,000) (270,000) (270,000) (300,000) (300,000) (550,000) (575,000) (575,000) (650,000) (650,000) Car Park Improvements (100,000) (50,000) (300,000) (50,000) (50,000) (50,000) (50,000) (300,000) (50,000) (50,000) Other Infrastructure (150,000) (175,000) (175,000) (200,000) (200,000) (425,000) (475,000) (475,000) (525,000) (525,000) Parks and Reserves Improvements
Irrigation Upgrades (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) Furniture & Lighting Upgrades (100,000) (100,000) (100,000) (250,000) (250,000) (100,000) (100,000) (100,000) (100,000) (100,000) Playground Upgrades (175,000) (175,000) (175,000) (175,000) (175,000) (225,000) (225,000) (225,000) (225,000) (225,000) Landscaping Upgrades (340,000) (1,240,000) (740,000) (290,000) (275,000) (475,000) (275,000) (275,000) (375,000) (625,000)
Subtotal (5,720,000) (6,251,000) (6,230,000) (5,312,000) (5,050,000) (5,685,000) (5,485,000) (5,830,000) (5,930,000) (6,180,000)
Total Capital Works Programme (14,288,350) (23,214,950) (13,860,190) (9,827,450) (8,280,590) (9,149,100) (22,690,300) (10,855,850) (10,066,150) (39,623,150)
OTHER OUTFLOWS
Transfer To Reserve Account Reserve Schedule (31,003,470) (9,607,500) (10,369,390) (7,531,800) (23,357,880) (8,597,720) (8,277,590) (8,579,110) (8,917,190) (39,235,450) Loan Repayment - Principal Loan Schedule (816,850) (908,620) (1,420,480) (1,291,470) (1,409,760) (1,520,890) (515,790) (546,840) (579,790) (585,960)
Non cash items
Write Back Gain on Disposal Of Assets Asset Schedule (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000)
Total Other Outflows (31,900,320) (10,596,120) (11,869,870) (8,903,270) (24,847,640) (10,198,610) (8,873,380) (9,205,950) (9,576,980) (39,901,410)
TOTAL FUNDS REQUIRED (92,431,428) (77,114,068) (68,863,508) (61,775,708) (76,092,518) (62,232,198) (74,353,958) (62,826,018) (62,369,408) (122,221,038)
OPERATING REVENUE
General Purpose Funding (excluding rates) 3,130,060 1,754,520 1,600,990 1,484,150 2,047,470 2,010,380 1,482,410 1,404,500 1,397,580 1,419,470
Governance 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000
Law Order & Public Safety 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700
Health 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600
Education & Welfare 1,268,957 1,428,457 1,293,957 1,248,957 1,479,957 1,498,957 1,329,957 1,229,957 1,729,957 1,729,957 Community Amenities 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 5,125,680 Recreation & Culture 5,106,067 4,872,067 4,856,067 4,856,067 4,876,067 4,956,067 4,856,067 4,856,067 4,856,067 4,856,067 Transport 6,240,190 6,340,190 6,340,190 6,140,190 6,140,190 6,140,190 6,140,190 6,140,190 6,140,190 6,265,190
Economic Services 956,070 926,070 956,070 926,070 956,070 926,070 956,070 926,070 956,070 926,070
Other Property & Services 4,452,230 4,639,230 8,103,230 5,103,230 4,978,230 4,978,230 4,810,890 4,901,470 4,901,470 4,901,470
Total Operating Revenue 1,2 26,469,554 25,276,514 28,466,484 25,074,644 25,793,964 25,825,874 24,891,564 24,774,234 25,297,314 25,414,204
OTHER INFLOWS
Reserve Utilised Reserves Schedule 12,496,860 22,121,170 14,361,130 10,569,900 8,711,660 9,562,500 22,004,370 10,604,920 9,097,220 38,665,590
Proceeds from Loans Loans Schedule 4,600,000 1,000,000 0 0 0 0 0 0 0 0
Proceeds Disposal of Assets Assets Schedule 24,014,000 3,552,000 536,000 367,000 15,470,000 415,000 689,000 354,000 572,000 30,407,000
Non cash items
Write Back Depreciation Assets Schedule 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 Write Back Loss On Disposal Of Assets Assets Schedule 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160
Opening Balance B/Fwd 1 July 987,297 993,193 992,430 965,936 988,042 973,419 966,025 940,781 917,278 912,604
Closing Balance C/Fwd 30 June (993,193) (992,430) (965,936) (988,042) (973,419) (966,025) (940,781) (917,278) (912,604) (908,680)
Total Other Inflows 45,476,324 31,045,294 19,294,984 15,286,154 28,567,644 14,356,254 27,089,974 15,353,784 14,045,254 73,447,874
Financial Statements: A.4 RATE SETTING STATEMENT BY NATURE OR TYPE
City of Subiaco
Rates Setting Statement by Nature and Type
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Note 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
OPERATING EXPENDITURE
Employee Costs (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700)
Materials and Contracts (12,694,828) (12,655,628) (12,599,728) (12,524,728) (12,549,728) (12,524,728) (12,549,728) (12,524,728) (12,549,728) (12,524,728)
Utilities (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750)
Depreciation (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200)
Interest Expense (652,670) (722,110) (638,460) (595,000) (519,300) (434,500) (345,290) (314,230) (281,290) (246,490)
Insurance Expense (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000)
Loss on Asset Disposal (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160)
Other expenditure (4,659,450) (1,689,450) (1,659,450) (1,689,450) (1,659,450) (1,689,450) (1,659,450) (1,689,450) (1,659,450) (1,689,450)
Total Operating Expenditure 1,2 (46,437,758) (43,497,998) (43,328,448) (43,239,988) (43,159,288) (43,079,488) (42,985,278) (42,959,218) (42,921,278) (42,891,478)
CAPITAL WORKS PROGRAMME Capital Expenditure
Land Land and 0 (8,000,000) 0 0 0 0 0 0 0 0
Buildings Property Schedule (6,145,000) (5,919,000) (5,343,000) (2,255,000) (867,000) (965,000) (14,205,000) (2,720,000) (1,120,000) (31,120,000)
Plant (1,510,000) (2,147,000) (1,508,090) (1,325,000) (1,385,390) (1,554,000) (2,146,000) (1,467,700) (2,178,000) (1,460,000)
Furniture (913,350) (897,950) (779,100) (935,450) (978,200) (945,100) (854,300) (838,150) (838,150) (863,150)
Subtotal (8,568,350) (16,963,950) (7,630,190) (4,515,450) (3,230,590) (3,464,100) (17,205,300) (5,025,850) (4,136,150) (33,443,150)
Infrastructure Expenditure
Road Works (2,860,000) (3,016,000) (3,240,000) (2,822,000) (2,565,000) (2,615,000) (2,530,000) (2,615,000) (2,615,000) (2,615,000)
Lansdscape & Irrigation Works Capital (150,000) (150,000) (150,000) (150,000) (160,000) (170,000) (180,000) (190,000) (290,000) (290,000)
Drainage Works Works (1,050,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000)
Footpath Works Schedule (200,000) (200,000) (205,000) (200,000) (200,000) (200,000) (200,000) (200,000) (225,000) (225,000)
Street Lighting (220,000) (270,000) (270,000) (300,000) (300,000) (550,000) (575,000) (575,000) (650,000) (650,000)
Car Park Improvements (100,000) (50,000) (300,000) (50,000) (50,000) (50,000) (50,000) (300,000) (50,000) (50,000)
Other Infrastructure (150,000) (175,000) (175,000) (200,000) (200,000) (425,000) (475,000) (475,000) (525,000) (525,000)
Parks and Reserves Improvements
Irrigation Upgrades (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000) (375,000)
Furniture & Lighting Upgrades (100,000) (100,000) (100,000) (250,000) (250,000) (100,000) (100,000) (100,000) (100,000) (100,000)
Playground Upgrades (175,000) (175,000) (175,000) (175,000) (175,000) (225,000) (225,000) (225,000) (225,000) (225,000)
Landscaping Upgrades (340,000) (1,240,000) (740,000) (290,000) (275,000) (475,000) (275,000) (275,000) (375,000) (625,000)
Subtotal (5,720,000) (6,251,000) (6,230,000) (5,312,000) (5,050,000) (5,685,000) (5,485,000) (5,830,000) (5,930,000) (6,180,000)
Total Capital Works Programme (14,288,350) (23,214,950) (13,860,190) (9,827,450) (8,280,590) (9,149,100) (22,690,300) (10,855,850) (10,066,150) (39,623,150)
Reserves Transfers to Surplus account Reserve Schedule (31,003,470) (9,607,500) (10,369,390) (7,531,800) (23,357,880) (8,597,720) (8,277,590) (8,579,110) (8,917,190) (39,235,450)
Loan Repayments - Principal Loan Schedule (816,850) (908,620) (1,420,480) (1,291,470) (1,409,760) (1,520,890) (515,790) (546,840) (579,790) (585,960)
Back out Non-Cash Items
Profit on Sale of Assets Asset Schedule (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000) (80,000)
Operating Revenue
Rates (net of discount, also includes specified area) 21,407,050 21,713,760 22,023,540 22,336,410 22,652,410 22,971,570 23,293,920 23,619,500 23,948,340 24,280,460
Sanitation Charges 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380
Fees and Charges 14,614,827 14,771,827 15,265,827 15,235,827 15,140,827 15,110,827 14,973,487 15,034,067 15,064,067 15,034,067
Grants, Subsidies and Contributions 2,682,527 2,708,027 2,557,527 2,312,527 2,563,527 2,662,527 2,393,527 2,293,527 2,793,527 2,918,527
Reimbursements and Donations 277,300 277,300 3,277,300 277,300 277,300 277,300 277,300 277,300 277,300 277,300
Interest Earnings 2,590,060 1,214,520 1,060,990 944,150 1,507,470 1,470,380 942,410 864,500 857,580 879,470
Profit on Asset Disposals 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000
Other Revenue 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960
Total Operating Revenue 1,2 47,150,104 46,263,774 49,763,524 46,684,554 47,719,874 48,070,944 47,458,984 47,667,234 48,519,154 48,968,164
Reserves Transfers from Surplus account Reserves Schedule 12,496,860 22,121,170 14,361,130 10,569,900 8,711,660 9,562,500 22,004,370 10,604,920 9,097,220 38,665,590
Proceeds Disposal of Assets Assets Schedule 24,014,000 3,552,000 536,000 367,000 15,470,000 415,000 689,000 354,000 572,000 30,407,000
Proceeds from Loans Loans Schedule 4,600,000 1,000,000 0 0 0 0 0 0 0 0
Back out Non-Cash Items
Depreciation Assets Schedule 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200 4,191,200
Loss on Sale of Assets Assets Schedule 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160 180,160
Opening balance 987,297 993,193 992,430 965,936 988,042 973,419 966,025 940,781 917,278 912,604
Closing balance (993,193) (992,430) (965,936) (988,042) (973,419) (966,025) (940,781) (917,278) (912,604) (908,680)
Financial Statements: A.5 STATEMENT OF COMPREHENSIVE INCOME (BY PROGRAM)
City of Subiaco
Statement of Comprehensive Income by Program
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Note 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
OPERATING REVENUE (Excluding Contributions to Development of Assets)
General Purpose Funding 23,615,610 22,546,780 22,703,030 22,899,060 23,778,380 24,060,450 23,854,830 24,102,500 24,424,420 24,778,430
Governance 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000
Law Order & Public Safety 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700 23,700
Health 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600 164,600
Education & Welfare 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957 1,224,957
Community Amenities 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680 5,095,680
Recreation & Culture 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907 4,844,907
Transport 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350 5,271,350
Economic Services 956,070 926,070 956,070 926,070 956,070 926,070 956,070 926,070 956,070 926,070
Other Property & Services 4,452,230 4,639,230 8,103,230 5,103,230 4,978,230 4,978,230 4,810,890 4,901,470 4,901,470 4,901,470
Total Operating Revenue 1,2 45,651,104 44,739,274 48,389,524 45,555,554 46,339,874 46,591,944 46,248,984 46,557,234 46,909,154 47,233,164
OPERATING EXPENDITURE (Excluding Borrowing Costs Expense)
General Purpose Funding (1,066,620) (1,095,310) (1,070,350) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130) (1,068,130)
Governance (1,805,870) (1,868,330) (1,810,120) (1,837,620) (1,807,620) (1,837,620) (1,807,620) (1,837,620) (1,807,620) (1,837,620)
Law Order & Public Safety (1,190,900) (1,202,190) (1,192,360) (1,191,490) (1,191,490) (1,191,490) (1,191,490) (1,191,490) (1,191,490) (1,191,490)
Health (704,610) (709,160) (705,200) (704,850) (704,850) (704,850) (704,850) (704,850) (704,850) (704,850)
Education & Welfare (3,146,420) (3,165,530) (3,148,890) (3,147,430) (3,147,430) (3,147,430) (3,147,430) (3,147,430) (3,147,430) (3,147,430)
Community Amenities (6,651,475) (6,681,795) (6,655,405) (6,653,065) (6,653,065) (6,653,065) (6,653,065) (6,653,065) (6,653,065) (6,653,065)
Recreation & Culture (13,858,510) (13,905,380) (13,853,090) (13,848,460) (13,848,460) (13,848,460) (13,848,460) (13,848,460) (13,848,460) (13,848,460)
Transport (9,852,503) (9,742,713) (9,807,723) (9,754,613) (9,754,613) (9,754,613) (9,754,613) (9,754,613) (9,754,613) (9,754,613)
Economic Services (5,018,980) (1,891,260) (1,950,570) (1,924,620) (1,949,620) (1,924,620) (1,949,620) (1,924,620) (1,949,620) (1,924,620)
Other Property & Services (2,114,040) (2,139,060) (2,121,120) (2,139,550) (2,139,550) (2,139,550) (2,139,550) (2,139,550) (2,139,550) (2,139,550)
Total Operating Expenditure 1,2 (45,409,928) (42,400,728) (42,314,828) (42,269,828) (42,264,828) (42,269,828) (42,264,828) (42,269,828) (42,264,828) (42,269,828)
BORROWING COSTS EXPENSE
Other Property & Services (20,200) (20,200) (20,200) 0 0 0 0 0 0 0
Recreation & Culture (129,640) (227,970) (229,320) (214,490) (198,750) (182,070) (164,350) (145,560) (125,630) (104,470)
Transport (47,460) (45,660) (43,760) (41,760) (39,650) (37,430) (35,080) (32,600) (29,980) (27,360)
Economic Services (455,370) (428,280) (345,180) (338,750) (280,900) (215,000) (145,860) (136,070) (125,680) (114,660)
Total Borrowing Costs Expense Loan Schedule (652,670) (722,110) (638,460) (595,000) (519,300) (434,500) (345,290) (314,230) (281,290) (246,490)
CONTRIBUTIONS TO THE DEVELOPMENT OF ASSETS
Education & Welfare 44,000 203,500 69,000 24,000 255,000 274,000 105,000 5,000 505,000 505,000
Recreation & Culture 250,000 16,000 0 0 20,000 100,000 0 0 0 0
Transport 900,000 1,000,000 1,000,000 800,000 800,000 800,000 800,000 800,000 800,000 925,000
Total Contributions to the Development of Assets 16 1,224,000 1,249,500 1,099,000 854,000 1,105,000 1,204,000 935,000 835,000 1,335,000 1,460,000
PROFIT/(LOSS) ON DISPOSAL OF ASSETS
Law Order & Public Safety (7,200) (7,200) (7,200) (7,200) (7,200) (7,200) (7,200) (7,200) (7,200) (7,200)
Education & Welfare (6,200) (6,200) (6,200) (6,200) (6,200) (6,200) (6,200) (6,200) (6,200) (6,200)
Community Amenities (35,830) (35,830) (35,830) (35,830) (35,830) (35,830) (35,830) (35,830) (35,830) (35,830)
Recreation & Culture (30,050) (30,050) (30,050) (30,050) (30,050) (30,050) (30,050) (30,050) (30,050) (30,050)
Transport 55,620 55,620 55,620 55,620 55,620 55,620 55,620 55,620 55,620 55,620
Economic Services 0 0 0 0 0 0 0 0 0 0
Other Property & Services (64,250) (64,250) (64,250) (64,250) (64,250) (64,250) (64,250) (64,250) (64,250) (64,250)
Total Profit/(Loss) on Disposal of Assets Asset schedule (100,160) (100,160) (100,160) (100,160) (100,160) (100,160) (100,160) (100,160) (100,160) (100,160)
NET RESULT 712,346 2,765,776 6,435,076 3,444,566 4,560,586 4,991,456 4,473,706 4,708,016 5,597,876 6,076,686
OTHER COMPREHENSIVE INCOME
Changes on revaluation of non-current assets 0 0 0 0 0 0 0 0 0 0
Share of gain on revaluation of Associate
Total Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0
Financial Statements: A.6 STATEMENT OF COMPREHENSIVE INCOME (BY NATURE AND TYPE)
City of Subiaco
Statement of Comprehensive Income by Nature or Type
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Notes 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024
OPERATING REVENUE
Rates (net of discount, also includes specified area) Rates Schedule 21,212,050 21,518,760 21,828,540 22,141,410 22,457,410 22,776,570 23,098,920 23,424,500 23,753,340 24,085,460
Grants, Subsidies and Contributions 16 2,682,527 2,708,027 2,557,527 2,312,527 2,563,527 2,662,527 2,393,527 2,293,527 2,793,527 2,918,527
Reimbursements and Donations 277,300 277,300 3,277,300 277,300 277,300 277,300 277,300 277,300 277,300 277,300
Fees and Charges 10 14,614,827 14,771,827 15,265,827 15,235,827 15,140,827 15,110,827 14,973,487 15,034,067 15,064,067 15,034,067
Interest Earnings 5 2,590,060 1,214,520 1,060,990 944,150 1,507,470 1,470,380 942,410 864,500 857,580 879,470
Other Revenue 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960 742,960
Gain on Asset Disposals Asset Schedule 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000 80,000
Sanitation Charges Waste Schedule 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380 4,755,380
Total Operating Revenue 1,2 46,955,104 46,068,774 49,568,524 46,489,554 47,524,874 47,875,944 47,263,984 47,472,234 48,324,154 48,773,164
OPERATING EXPENDITURE
Employee Costs (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700) (22,411,700)
Materials and Contracts (12,694,828) (12,655,628) (12,599,728) (12,524,728) (12,549,728) (12,524,728) (12,549,728) (12,524,728) (12,549,728) (12,524,728)
Utilities (gas, electricity, water etc.) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750) (1,047,750)
Depreciation on Non-Current Assets Asset Schedule (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200) (4,191,200)
Interest Expenses Loan Schedule (652,670) (722,110) (638,460) (595,000) (519,300) (434,500) (345,290) (314,230) (281,290) (246,490)
Insurance Expenses (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000) (600,000)
Loss on Asset Disposal Asset Schedule (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160) (180,160)
Total Operating Expenditure 1,2 (46,242,758) (43,302,998) (43,133,448) (43,044,988) (42,964,288) (42,884,488) (42,790,278) (42,764,218) (42,726,278) (42,696,478)
NET RESULT 712,346 2,765,776 6,435,076 3,444,566 4,560,586 4,991,456 4,473,706 4,708,016 5,597,876 6,076,686
OTHER COMPREHENSIVE INCOME
Changes on revaluation of non-current assets 0 0 0 0 0 0 0 0 0 0
Share of gain on revaluation of Associate
Total Other Comprehensive Income 0 0 0 0 0 0 0 0 0 0
Supporting Schedules
B. Supporting Schedules
Section
Section
Section
Section
PagePagePagePage
B.1 Capital Funding Summary ...68 B.2 Loan Summary ...70 B.3 Reserve Summary ...72 B.4 Rates Schedule ...74 B.5 Assets Summary ...76 B.6 Key Performance Indicators ...78
Supporting Schedules
Supporting Schedules: B.1 CAPITAL FUNDING SUMMARY
City of Subiaco
Capital Funding Summary
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
Notes 2014/2015 2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 2020/2021 2021/2022 2022/2023 2023/2024 Capital Works Land 0 (8,000,000) 0 0 0 0 0 0 0 0 Buildings (6,145,000) (5,919,000) (5,343,000) (2,255,000) (867,000) (965,000) (14,205,000) (2,720,000) (1,120,000) (31,120,000) Plant (1,510,000) (2,147,000) (1,508,090) (1,325,000) (1,385,390) (1,554,000) (2,146,000) (1,467,700) (2,178,000) (1,460,000) Furniture (913,350) (897,950) (779,100) (935,450) (978,200) (945,100) (854,300) (838,150) (838,150) (863,150) Road Works (2,860,000) (3,016,000) (3,240,000) (2,822,000) (2,565,000) (2,615,000) (2,530,000) (2,615,000) (2,615,000) (2,615,000)
Landscape & Irrigation Works (150,000) (150,000) (150,000) (150,000) (160,000) (170,000) (180,000) (190,000) (290,000) (290,000)
Drainage Works (1,050,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000)
Footpath Works (200,000) (200,000) (205,000) (200,000) (200,000) (200,000) (200,000) (200,000) (225,000) (225,000)
Street Lighting (220,000) (270,000) (270,000) (300,000) (300,000) (550,000) (575,000) (575,000) (650,000) (650,000)
Car Park Improvements (100,000) (50,000) (300,000) (50,000) (50,000) (50,000) (50,000) (300,000) (50,000) (50,000)
Other Infrastructure (150,000) (175,000) (175,000) (200,000) (200,000) (425,000) (475,000) (475,000) (525,000) (525,000)
Parks and Reserves Improvements