Inner West Council

IWC	December 2024 YTD Actual ($'000)	December 2024 Q1 Budget ($000)	Variance Better/(Worse) ($000)	Variance Better/(Worse) (%)	Q1 Budget ($000)	2024/25 Adopted Budget ($000)
Income from Continuing Operations
General Revenue	92,141	89,837	2,303	2.6%	181,952	181,952
User Charges & Fees	34,111	30,827	3,284	10.7%	61,102	60,913
Other Income	24,368	20,899	3,469	16.6%	41,798	39,487
Profit or (Loss) on Disposal	1,184	(555)	1,739	>100%	(1,109)	(1,109)
Total Income	151,804	141,008	10,795	7.7%	283,742	281,242
Expenses from Continuing Operations
Employee Costs	77,802	78,211	409	0.5%	149,517	149,127
Borrowing Costs	362	368	6	1.6%	723	723
Materials & Services	53,519	46,309	(7,210)	(15.6)%	99,736	95,584
Other Expenses	7,739	7,265	(475)	(6.5)%	13,151	13,672
Depreciation & Amortisation	18,834	19,052	218	1.1%	38,104	34,204
Total Expense	158,257	151,205	(7,052)	(4.7)%	301,231	293,311
Total Surplus/(Deficit) before Funding	(6,453)	(10,196)	3,743	36.7%	(17,489)	(12,069)
Operating Grants & Contributions
Operating Grants	5,085	1,615	3,469	>100%	12,905	10,353
Total Surplus/(Deficit) after Operating Grants	(1,368)	(8,581)	7,213	84.1%	(4,585)	(1,716)
Funding Contributions & Overhead Allocations
Capital Grants & Contributions	14,272	9,936	4,336	43.6%	44,798	40,576
Overhead Allocation	(0)	0	(0)	<-100%	0	0
Funding from/(to) Restricted Funds	(29,240)	(5,204)	(24,036)	<-100%	(53,005)	(50,409)
Funding from/(to) General Funds	16,337	3,849	12,487	>100%	12,791	11,549
Total Surplus/(Deficit) after Capital Grants, Contributions & Funding	-	-	-	n/a	-	-

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