2017-11-16 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                            16 NOVEMBER 2017


The proposed operational budget adjustments will result in a $48k increase to the operating
surplus. The financial statements in Appendices 4 and 5 outline the revised budget position.

Item                                  Current Budget       Proposed Changes       Proposed Budget
                                        (BR1) ($’000)                 ($’000)         (BR2) ($’000)

Operating Revenue                            $92,201                     $731              $92,933
Operating Expenses                           $92,187                     $683              $92,870
Operating Surplus                                $15                      $48                  $63

2.     Proposed Carryovers - Capital Expenditure Projects
There are a total of 49 budget review submissions for capital projects as a result of either cost
savings, variations to scope and/or cost overruns, timing delays, rescheduling to reflect delivery
over two financial years as well as emergent works. The budget review proposes an overall
reduction in expenditure of $2.4 million, with the capital program decreasing overall from $30.1
million to $28.6 million.

Council has recently been successful in securing grants for a number of programs including the
Noosaville Library Refurbishment and the Bridge Renewal Program. This external funding will be
received over a number of financial years staged according to project delivery, with the capital
revenue budget increasing by $390,381 this financial year reflecting payments for projects
commencing construction.

Item                                                                            Detail
Original Capital Expenditure Budget                                     $24,055,500
Carryovers                                                               $6,934,213
BR1 Current Budget                                                      $30,989,713
Total BR2 Capital Expenditure Submissions                               -$2,409,775
Proposed Revised Capital Budget                                         $28,579,938
Total BR2 Capital Revenue Submissions                                     -$390,381
Net BR2 Capital Submissions (Expense and Revenue)                       -$2,800,156

The following table summarises the proposed revised 2017/18 capital budget by program, with
the full list contained in Attachment 2.

Program                                                 Original         BR1             BR2      Revised
                                                        Budget                                      Total
Asset Management                                    $570,000          $8,741                     $578,741
Bridges                                           $1,500,000                       -$750,650     $749,350
Coastal Canals and Waterways                            $12,000     $154,000         $55,050     $221,050
Commercial Land & Property                        $2,000,000       $1,119,628                  $3,119,628
Community Facilities                                    $65,000     $281,991      $1,045,180   $1,392,171
Corporate Buildings                                 $195,000         $49,821        -$90,000     $154,821
Fleet - Plant Replacement                         $1,450,000              $0        $118,087   $1,568,087
Gravel Road Network                                 $800,000         $62,485       -$250,000     $612,485
Holiday Parks                                     $1,050,000         $10,500                   $1,060,500
Information Technology                              $250,000        $196,762                     $446,762
Parks & Playgrounds                                 $360,000         $34,450        $527,875     $922,325
Pathways & Enabling Facilities                    $7,180,000        $285,168     -$5,250,010   $2,215,158


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