2015-01-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                 12 January 2015


•      Depreciation expenses are currently running in accordance with the original budget
       forecast, however, with the revaluation of transferred assets undertaken for the 2013/14
       financial statements there may be changes made to the original budget forecast.
•      Other Expenses – generally in accordance with budget.

4.     Capital Works Program

Year to date capital expenditure is $4.64 million against a revised (YTD) budget of $6.85 million.


    10,000,000                                                                      30,000,000

     8,000,000
                                                                                    25,000,000
     6,000,000
                                                                                    20,000,000
     4,000,000

     2,000,000                                                                      15,000,000

             0
                                                                                    10,000,000
                  Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
     -2,000,000
                                                                                    5,000,000
     -4,000,000

     -6,000,000                                                                     0

             Budget        Actual        Accum Budget (RHS)            Accum Actual (RHS)


The chart above shows that expenditure against the adopted capital works program is lagging
behind current forecasts. Managers will re-forecast the delivery of the capital works program as
part of the December quarter budget review with a priority on delivery of the agreed program
prior to 30 June 2015.

Detailed discussion of progress in the delivery of the capital works program is provided to the
Infrastructure and Services Committee. The attached schedule of capital works shows the
specific financial performance for each program. It is noted that genuine variations will need to
be financed through the reallocation of funding and possibly rescheduling works beyond the
original program.


5.     Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 30 November 2014 was just below $50 million, with the portfolio split across the
following agencies. The graph on the right shows the current risk profile using industry credit
ratings.




                                                                                  Page 124 of 147