True virus cost rises as budget takes hit
A clearer picture of the cost to the region of the coronavirus pandemic is emerging as council braces for blow to bottom line.
Sunshine Coast
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A CLEARER picture of the cost to the region of the coronavirus pandemic is emerging.
Sunshine Coast Council's latest financial performance report has projected through to June 30 the expected economic impacts of the pandemic to the organisation's bottom line.
The virus was set to cost council about $8 million by June 30, as the organisation joined the government response to the health crisis.
Council had to-date provided more than $2 million in direct financial support through its business support package initiative, which had assisted more than 3000 business and community groups directly.
A breakdown of the financial implications gave insight into how widespread the effects of the pandemic were, across a range of sectors within council.
The closure of on-street parking meters in Caloundra CBD and Birtinya was set to cost about $180,000 through to June 30, while parking inspectors handing out warnings instead of tickets would cost about $400,000.
More than 2300 businesses had their food licensing fees waived from March 1 to August 31, at a cost of $260,000.
The organisation was set to spend about $150,000 on extra soap dispenser units, as part of the continued servicing and cleaning of public amenities.
Revenue reductions at a number of major facilities had also contributed significantly to the costs, offset in part by a reduction in operating expenditures.
Losses of $218,742 had been forecast at the Caloundra Indoor Stadium and the revenue lost from Sunshine Coast Stadium's closure was tipped to be just over $1.49 million.
The massive reduction in travellers due to restrictions was also set to deliver a blow to the bottom line of the region's holiday parks.
Projected revenue losses were $411,294 at Coolum Beach, $1.2 million at Cotton Tree, $274,876 at Dicky Beach, $439,424 at Maroochydore Beach, $892,643 at Mooloolaba Beach and $252,502 at Mudjimba Beach.
Interest received from council investments was also forecast to reduced by $1.5 million, and council's cash stocks ready to invest were reduced due to a cut in processing times of invoice payments.
Sunshine Coast Airport royalty losses were tipped to reach $400,000, after flights were canned on March 27, with no further revenue expected through to June 30.
Up to $3 million worth of capital works project were being fast-tracked across the region, in a bid to support local jobs and keep cash flowing in the local economy, with the work to focus on council facilities that have been temporarily closed.
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