BUDGET REVIEW 2 (BR2) FOR THE 2024/25 FINANCIAL YEAR · Report

GENERAL COMMITTEE MEETING                                                          20 JANUARY 2025



2. Proposed Capital Budget Adjustments
A total of 36 budget review submissions were received for capital works projects, with a
proposed decrease of $7.6 million to the 2024/25 capital works program excluding disaster
funded projects.

With the delivery of QRA funded disaster projects currently under construction, the current year
capital works program includes $78.8 million of QRA funded disaster. These projects relate to
the February 2022 flood event and are fully funded by the Queensland Reconstruction Authority
(QRA). All capital submissions have been reviewed by the Capital Works Executive.

The following table summarises the proposed revised 2024/25 capital budget.

Total Capital Budget                               Amount
                                                   ($'000)
Original Budget                                        $45,246
BR1 Adjustments                                         $8,620
QRA Funded disaster projects (carryover)               $78,728
Current Capital Expenditure Budget                    $132,594
Proposed BR2 Adjustments                               ($7,677)
Revised BR2 Capital Expenditure Budget                $124,917

The following table summarises the budget submissions by program and categorised as:

   •   Multi-Year Rescheduling: Where timing of design and construction works for major projects
       straddle multiple financial years, or commencement has been delayed, and the budget has
       been reallocated to future years.
   •   Emergent Works & Variations: Initiation of new capital works items which have arisen since
       BR1 or where there has been a variation due to the acceptance of tender, change in scope,
       reallocation of funds or savings realised upon completion with project being under budget.
   •   Project Savings / Transfers: These are realised savings on existing capital works projects
       which have been re-allocated to fund emergent works and variations.
The following table summarises the proposed revised 2024/25 capital budget by program, with the
full program contained in Attachment 2.


                                      Current        Multi        Emergent      Project    Proposed
 Program                              Budget          Year         works &     Savings /    Budget
                                       (BR1)       Scheduling     Variations   Transfers     (BR2)
 Capital Works
   Bridges                                 2,002        (300)                      (634)       1,068
   Cemeteries                                89                                                  89
   Coastal Canals and Waterways            3,163        (700)                      (221)       2,242
   Commercial Land & Properties             120                                                 120
   Community Facilities                    1,413                        125                    1,538
   Corporate Buildings                     1,876                         68                    1,944
   Environmental Assets, Bushland,
                                            878                                                 878
   Tracks and Trails