Docklands feeds council coffers

The City of Melbourne continues to earn more than it spends in Docklands, announcing nearly $1 million more than the $5.5 million surplus it had budgeted for in the September quarter.

In its report to the Docklands Co-ordination Committee on March 24, the council said it had collected $927,134 more than expected.

Its bonus revenue came from a number of sources:

It received $239,609 from supplementary valuations, mainly from ANZ;

It collected $140,551 more than it expected in parking fines thanks to extending its restriction hours;

It picked up an extra $77,088 in waterways berthing fees; and

It was paid $60,841 more than it had budgeted for in building fees.

On the other side of the ledger the council spent less on marketing and public relations.  Depreciation, as well as the timing of some of its programs, also skewed the result.

In the first six months of the financial year, the council has underspent its Docklands marketing budget by $160,280 and, despite its windfall in berthing fees, has spent $108,667 less than budgeted on waterways services.