2015-06-23 Planning & Organisation Committee Meeting Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                     23 JUNE 2015


Recurrent Expenditure
YTD operating expenditure is currently 86% of fully year budget spend compared to the YTD
benchmark of 92%. Detailed commentary for significant items appears below.
 Employee Costs – YTD actuals of $23.8m equates to 86% of the full year budget being
   expended, compared to the YTD benchmark of 92%. A number of current staff vacancies
   in addition to training costs lagging YTD budgeted expenditure are contributing to the
   positive YTD variance of $1.1m.
 Materials and Services – 77% of YTD budget ($29.4m) has been expended compared to
   the YTD benchmark of 92% ($31.4m). Contract services costs are behind YTD budget
   levels, with a number of significant variances adjusted as part of the March budget
   review.
 Finance Costs – generally in accordance with budget, and with the credit card surcharge
   applying from January, there has been a favourable impact on the net cost of merchant
   fees, which is reflected with adjustments in the budget review.
 Depreciation expenses are currently running in accordance with budget forecasts.
 Other Expenses – generally in accordance with budget.

Figure 3: Recurrent Expenditure Position by Type
 $35

 $30
                                                      YTD Budget ($m)
 $25
                                                      YTD Actual ($m)
 $20

 $15

 $10

  $5

  $0
                         Materials




                                      Finance Costs




                                                              Depreciation
            Employees




                                                                             Other




Capital Works Program
Year to date actual capital expenditure (excluding commitments) is $11.9 million against a
revised YTD budget of $17.6 million. Detailed discussion of progress in the delivery of the
capital works program is provided periodically to the Infrastructure and Services Committee.
The attached schedule of capital works shows the financial performance detail for each
program and project for actual costs incurred. The report to the Infrastructure and Services
Committee will also include committed costs (i.e. purchase orders) which as at 31 May 2015
totalled $15.4 million.

Cash Management and Investment Performance
Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 31 May 2015 was $58.2 million (year-end cash holdings are projected at
approximately $33 million, though this will be increased by any unexpended funds from the
capital works program and operating budget including special levies).




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