2015-10-19 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       19 OCTOBER 2015


        Employee Costs – Actuals of $6.7m against the YTD budget of $6.7m and equates to 24%
          of the full year budget.
        Materials and Services – 26% of budget ($10.1m) has been expended compared to the
          budget of $11.7m. Some variances relate to unexpended levy funds, but all operational
          areas will be reviewed in the quarterly budget review.
        Finance Costs – generally in accordance with budget, though the year-end forecast for
          merchant fees will be reviewed.
        Depreciation expenses are currently running in accordance with budget forecasts.
        Other Expenses – generally in accordance with budget.

Figure 3: Recurrent Expenditure Position by Type

 $12

 $10
                                                        YTD Budget ($m)
     $8                                                 YTD Actual ($m)

     $6

     $4

     $2

     $0
                                        Finance Costs
                            Materials




                                                                Depreciation
                Employees




                                                                               Other




Capital Revenue

Included in these reporting lines are cash contributions from developers ($0.4 million), together
with $0.4 million received for transport infrastructure capital grant funding.

Capital Works Program

Capital expenditure (excluding commitments) is $2.8 million against the full-year budget of $31.3
million. Works scheduling is now complete and will continue to be refined each month to ensure
budget performance can be reported accurately. Detailed discussion of progress in the delivery
of the capital works program is provided quarterly to the Infrastructure and Services Committee.

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 30 September 2015 was $70.3 million. The cash balance includes constrained
funding carried forward for capital projects still under construction, plus unspent funds from
special rates and levies.

Council’s investment portfolio is balanced across a number of agencies, as shown in the graph
on the left. The graph on the right shows the current risk profile using industry credit ratings.




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