DONT USE - Financial Information for Frankston City
The Council’s Financial Information has been provided and it covers March 2022 to March 2024.
The information shows income and expenses and compares actual to what has been budgeted. This helps measure the Council’s financial performance.
The Actual and Budgeted income amounts are shown (latest quarter for this current year and final amounts for each previous year)
For this current financial year, the income is expected to reach $227.1 m.
The Actual and Budgeted expense amounts are shown (latest quarter for this current year and final amounts for each previous year).
For this current financial year, the expenses are expected to reach $199.1 m.
A surplus is forecasted this year (as income exceeds expenses) which will be reinvested for Capital Works and Services so the Council can achieve its Planned activities.
Whilst rates remain the main income source, it’s contribution to or proportion of total revenue has increased from 65% to 75% this financial year.
The proportion of income coming from Grants has decreased from 18% to 12% with User fees also decreasing.
Main Council expenses are employee costs then materials and services followed by depreciation.
Proportionally these expense types have held steady for 3 financial years.