09 Financial Performance Report - Mar 2022

GENERAL COMMITTEE MEETING AGENDA                                                                     19 APRIL 2022


Legal and associated costs are $90k above YTD budget (61% or $1.3 million of $2.2 million of
annual budget spent). This variance is due largely to costs associated with the Kin Kin Quarry
action.
Disaster Recovery Works
Council is still in the process of assessing the remediation works resulting from the February 2022
flood event. To date Council has incurred $460k in costs associated with the counter disaster
operations and immediate emergent works with further works and assessments ongoing.
An external contractor has been engaged to assess and quantify the damage to infrastructure and
other Council assets and we are yet to receive their report outlining the works required.
$1.39 million in disaster recovery funding has already been received and additional funding will be
sought once assessments are completed and the program of works finalised.
Capital Revenue
YTD capital revenue of $12.8 million received comprises cash contributions from developers ($1.9
million) and capital grants ($10.8 million). Note that the timing of capital grant receipts are generally
dependent on the timing of grant conditions and also capital delivery performance, and that the
timing of the receipt of developer contributions (both cash and contributed) is unpredictable.


Figure 4: Capital Revenue by Type

 $12.0                                                             $10.8
                                               $10.3
                                                                           YTD Budget ($m)
 $10.0
                                                                           YTD Actual ($m)
  $8.0

  $6.0

  $4.0
                 $1.6                   $1.9
  $2.0                                                                          $1.2                 $0.7

  $0.0
                        Contributions




                                                                                       Contributed
                                                       Subsidies
                                                        Grants /




                                                                                         Assets
                           Cash




Capital Program
Actual capital expenditure (excluding commitments) is $23.9 million (YTD budget $31.2 million).
Detailed discussion of progress in the delivery of the capital works program is provided through a
separate quarterly report by the Asset Planning Manager.