06 Financial Performance Report - Dec 2021

GENERAL COMMITTEE MEETING AGENDA                                                      17 JANUARY 2022


Legal Cost Summary
Council requested an update on legal costs and associated expenditure. Expenditure as at 31
December 2021 is outlined below.
Legal and associated costs are $206k above YTD budget (58.2% or $914k of $708k budget spent),
this is due largely to costs associated with the Kin Kin Quarry. These additional costs will be
addressed as part of budget review 2 (BR2).




It should be noted legal costs are primarily driven by emergent issues and therefore prior year
expenditure may not be an appropriate comparison for projecting future costs.
Capital Revenue
YTD capital revenue of $9.6 million received comprises cash contributions from developers ($1.6
million) and capital grants ($7.6 million). Note that the timing of capital grant receipts are generally
dependent on the timing of grant conditions and also capital delivery performance, and that the
timing of the receipt of developer contributions (both cash and contributed) is unpredictable.
Figure 4: Capital Revenue by Type

  $9.0
                                                $7.3               $7.7
  $8.0
                                                                          YTD Budget ($m)
  $7.0
                                                                          YTD Actual ($m)
  $6.0
  $5.0
  $4.0
  $3.0
                 $1.5                   $1.6
  $2.0
                                                                               $0.6                 $0.7
  $1.0
  $0.0
                        Contributions




                                                       Subsidies




                                                                                      Contributed
                                                        Grants /




                                                                                        Assets
                           Cash




Capital Program
Actual capital expenditure (excluding commitments) is $15.3 million (YTD budget $18.2 million).
Detailed discussion of progress in the delivery of the capital works program is provided through a
separate quarterly report by the Asset Planning Manager.