2014-08-19 Planning & Organisation Committee Agenda - Pages 102-155

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                 19 AUGUST 2014


Finance
11                        BUDGET REVIEW FOR CARRYOVER FROM 2013/14 INTO 2014/15
DOCUMENT IN FOR MATI ON




Author                               Manager Financial Services, Wayne Jensen
                                     Corporate Services Department

Index                                ECM/ Subject/ 7.06 – 2014/2015 Budget

Attachments                          1.    Proposed Carryover Requests
                                     2.    Revised Budget Financial Statements


EXECUTIVE SUMMARY
The Local Government Act 2009 and Regulations require Council to undertake regular reviews of
the adopted budget to ensure it remains reflective of planned activities to be funded through the
budget period. At the close of each financial year, any uncompleted projects are considered for
possible carryover into the subsequent budget year.

RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 19 August 2014 and approve:
A.                        The proposed carryovers from the 2013/14 financial year to the 2014/2015 financial year as
                          outlined in the carryover requests as set out in Attachment 1 to the report; and
B.                        The consequential changes to the budget for those carryovers for the 2014/2015 financial
                          year as outlined in Budget Financial Statements as set out in Attachment 2 to the report.



REPORT
Section 170 (3) of the Local Government Regulation 2012 allows Council, by resolution, to
amend the budget for a financial year at any time before the end of the financial year.

Along with regular quarterly reviews of the adopted budget, in October, January and April of each
year, a full review of uncompleted projects is undertaken in July to consider the carryover of
these projects into the following budget year. To qualify for consideration, there must be an
operating surplus, and there must also be sufficient funds from the original project budget to
complete the works in the new financial year.

Generally, there is no carryover of operational funding unless there is a contractual obligation;
specific funding from operational grants; or a Council resolution.

1.                        Operating Carryovers Proposed

Attachment 1 shows all of the proposed carryovers, and includes $37,545 in operational
carryovers. This includes two projects funded from operational grants; one project identified in a
specific Council resolution; and one project funded from external contributions.




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