2022-03-30 Special Meeting Agenda

SPECIAL MEETING AGENDA                                                                30 MARCH 2022


Current Year 2021/22 Budget
Current Budget Performance
The current budget (BR2), presented at the January 2022 General Committee Meeting, forecasts a
marginal deficit for 2021/22 of $0.6 million and an ambitious capital works program of $48.1 million.
Council’s YTD operating position as at the end of February, as presented at this March 2022 General
Committee meeting, identifies that Council’s YTD financial performance is well ahead of budget. This
current budget does not yet incorporate any operating or capital financial impacts from the recent
major weather event.

Table 1: Current 2021/22 Budget Position Year to Date
Item                                           Current Budget         YTD Budget           YTD Actual
                                                         (BR2)            ($’000)              ($’000)
                                                       ($’000)
Operating Revenue                                    $109,530              97,458              99,333
Operating Expenditure                                $110,161              70,127              68,835
Operating Result                                        ($631)             27,331              30,498
Capital Grants and Contributions Revenue              $18,963               9,875              10,433
Capital Works Expenditure                             $48,079              24,772              20,575

Long Term Financial Plan

The following table provides a snapshot of financial elements extracted from Council’s Long Term
Financial Plan which will inform the 2022/23 budget. Key points to note are:
•      Steady marginal operating surpluses. Each year, nearly all revenue is being invested back into
       the community to maintain service levels, support growth as well as deliver project initiatives.
•      Continued high investment in capital works in the short term for committed grant funded works.
•      Strong liquidity management achieved through stable cash and diminishing debt balances
       which provides fiscal capacity to accommodate any emergent financial commitments.
•      Growth in the value of assets provided to service the community.
•      Key financial sustainability indicators are being met or exceeded in nearly all years.

Table 2: Snapshot of Key Long Term Financial Plan Indicators




Operational Plan

The annual Operational Plan is adopted each year as part of the annual budget process, and outlines
the key strategies and actions committed for the financial year. The status of the 2021/22 Operational
Plan was presented at the February 2022 General Committee meeting, which identifies 76 key
operational initiatives committed for the 2021/22 financial year. The current status of these initiatives
as at the end of December 2021 are:

Table 3: Operational Plan 2021/22 Delivery Status
Status                                Number
Not Started                              3
Behind Schedule                          6
On Track                                62
Complete                                 5




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