2015-08-18 Planning and Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                      18 AUGUST 2015


    Materials and Services – 7% of budget ($2.9m) has been expended compared to the
      budget of $3.1m. Being only 1 month into the financial year means it is too early to
      identify any specific trends in expenditure against budget.
    Finance Costs – generally in accordance with budget.
    Depreciation expenses are currently running in accordance with budget forecasts.
    Other Expenses – currently below budget, but it is too early to identify any potential
      budget adjustment.

Figure 3: Recurrent Expenditure Position by Type
 $4

 $3
                                                       YTD Budget ($m)
 $3
                                                       YTD Actual ($m)
 $2

 $2

 $1

 $1

 $0
                                       Finance Costs
                         Materials




                                                               Depreciation
           Employees




                                                                              Other




Capital Revenue and Expenses

Included in these reporting lines are cash contributions from developers ($0.1 million), plus a
minor amount from the sale of plant and equipment (not originally budgeted).

Capital Works Program

Capital expenditure (excluding commitments) is $0.1 million. It is noted that actual
expenditure has been incurred against projects carried forward from the 2014/15 program
and that budgets will only be added once approved by Council. Works scheduling is
currently being finalised and will result in detailed monthly budgets against which future
budget performance can be measured.

Detailed discussion of progress in the delivery of the capital works program is provided
periodically 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 31 July 2015 was $57.7 million. The cash balance includes funding to be 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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