2021-08-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                   16 AUGUST 2021



9      BUDGET REVIEW 1 (BR1) FOR THE 2021/22 FINANCIAL YEAR


Author             Manager Financial Services, Trent Grauf
                   Corporate Services Department

Index              ECM/ Subject/ 7.29 – 2021-2022 Budget

Attachments        1.   Proposed Operating Budget Submissions
                   2.   Proposed Capital Budget Submissions
                   3.   Revised Capital Program
                   4.   Revised Statement of Income and Expenditure
                   5.   Revised Budget Financial Statements



EXECUTIVE SUMMARY
The Local Government Act 2009 and Local Government Regulation 2012 require Council to
undertake regular reviews of the adopted budget to ensure it remains reflective of planned activities
to be funded through the financial year. This first budget review for the 2021/22 financial year (BR1)
incorporates:
      Any capital or operating projects that were incomplete with unspent budgets at the close of the
       2020/21 financial year and are eligible for carryover into the current budget year.
      Any new or emergent actions arising from Council resolution, Executive Team or Capital Works
       Executive action since the adoption of the original budget in June 2021.

In summary the budget review is proposing to decrease Council’s operating position by $1.0 million;
reducing from a $309k surplus down to a $692k deficit. Capital grant revenue has increased by $4.4
million and the revised capital expenditure program has increased by $6.8 million to $53.7 million.


Item                                       Original Budget       Adjustments Proposed Budget
                                                    ($’000)           ($’000)    (BR1) ($’000)
Operating Revenue                                 $106,634               $614           $107,248
Operating Expenditure                             $106,325             $1,616           $107,941
Operating Result                                      $309            ($1,002)             ($692)
Capital Grants and Contributions Revenue           $20,562             $4,421            $24,984
Capital Works Expenditure                          $46,897             $6,797            $53,694



RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 16 August 2021 and approve the proposed changes to the budget for the 2021/22 financial
year as outlined in the Revised Budget Financial Statements attached to the report.




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