Budget 2020 - 2021 2 Budget 2020-21 Table of Contents Mayor’s Message ................................................................................................................. 3 Elected Members ................................................................................................................. 5 Executive Leadership Team ................................................................................................ 6 Council’s Corporate Plan Outcomes .................................................................................. 7 2020-2021 Annual Budget at a Glance ............................................................................... 8 Capital Expenditure ........................................................................................................................ 8 Rates and Charges ........................................................................................................................ 9 Total Council (RCC) Rates and Charges ................................................................................... 9 Environment Separate Charge .................................................................................................. 9 Landfill Remediation Separate Charge ...................................................................................... 9 Redland City SES Administration Separate Charge .................................................................. 9 Water Pricing – RCC controlled ................................................................................................. 9 Water Pricing – State controlled ................................................................................................ 9 Wastewater Pricing ................................................................................................................... 9 Waste Levy in Queensland ........................................................................................................ 9 Financial Budget Overview 2020-2021 ............................................................................. 10 Investment in the City .................................................................................................................. 10 Funding the Investment in the City ............................................................................................... 11 Budgeted Financial Statements ........................................................................................ 12 Financial Budget Summary .......................................................................................................... 12 Key Balance Sheet Items ............................................................................................................. 12 Statement of Financial Position .................................................................................................... 13 Statement of Cash Flows ............................................................................................................. 14 Statement of Income and Expenditure ......................................................................................... 15 Statement of Comprehensive Income .......................................................................................... 15 Statement of Changes in Equity ................................................................................................... 16 Operating Statement .................................................................................................................... 17 Capital Funding Statement ........................................................................................................... 18 Other Budgeted Items .................................................................................................................. 18 Contributions from Developers ..................................................................................................... 19 Financial Stability Ratios and Measures of Sustainability Overview ............................................. 19 Redlands Rates Comparison ....................................................................................................... 20 Significant Business Activities ...................................................................................................... 21 Capital Investment 2020-2021 ........................................................................................... 25 Funding Capital Investment 2020-2021 ............................................................................ 26 Capital Works 2020-2021 ................................................................................................... 27 Long-Term Financial Forecast .......................................................................................... 28 Investment Policy (FIN-001-P) ........................................................................................... 29 Debt Policy (FIN-009-P)...................................................................................................... 30 Application of Dividends and Tax Equivalent Payments Policy (FIN-005-P) ................ 32 1 Budget 2020-21 Constrained Cash Reserves Administrative Directive (FIN-007-A) ................................ 33 Revenue Policy (FIN-017-P) ............................................................................................... 34 Revenue Statement 2020-2021 .......................................................................................... 39 Outline and Explanation of Measures Adopted for Revenue Raising ........................................... 39 Rates and Charges ...................................................................................................................... 39 Differential General Rates ....................................................................................................... 39 Separate Charges ........................................................................................................................ 44 Environment Separate Charge ................................................................................................ 44 Landfill Remediation Separate Charge .................................................................................... 44 Redland City SES Administration Separate Charge ................................................................ 44 Special Charges ........................................................................................................................... 45 Rural Fire Brigade Special Charge .......................................................................................... 45 Utility Charges ............................................................................................................................. 45 Waste/Recycling Charge ......................................................................................................... 45 Water Charges ........................................................................................................................ 49 Fixed Water Access Charge .................................................................................................... 49 Consumption Charge ............................................................................................................... 51 Wastewater Charges ............................................................................................................... 52 Trade Waste Charges ............................................................................................................. 54 Interest on Overdue Rates ........................................................................................................... 55 Rating Concessions and Exemptions ........................................................................................... 55 Pensioner Concessions ............................................................................................................... 55 State Lease Agreements – Community Organisations ................................................................. 57 Community Service Obligations (CSOs) ...................................................................................... 58 Farming Concession/CSO ............................................................................................................ 58 Water CSO .................................................................................................................................. 58 Haemodialysis Home Treatment CSO ......................................................................................... 58 Concealed Leaks CSO ................................................................................................................ 59 Wastewater CSO ......................................................................................................................... 61 Trade Waste Charges for Not-for-profit Organisations CSO ......................................................... 61 Concealed Leak CSO on Trade Waste Charges .......................................................................... 61 Other Matters ............................................................................................................................... 62 Revenue Statement Definitions .................................................................................................... 62 Glossary – Key Performance Indicators .........................................................................