2020-12-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                 14 DECEMBER 2020


    2.         The eligible capital or operating projects must be delivery-ready with a commitment to
               complete the project during the year.
    3.         Capital submissions will be reviewed and authorised by the Executive Team before
               inclusion as a budget review submission, where the group will consider justification for
               the request, deliverability as well as organisational and community priorities before
               endorsing any capital works.
    4.         All operating and capital submissions for additional spend, reallocation of savings or
               additional revenue will be confirmed by the Executive Team based on business risk
               assessment.
    The revised statement of comprehensive income, included as Attachment 4, identifies the
    financial statement line items that have been affected by the proposed budget adjustments.
    The budget financial statements, included in Attachment 5, also identify the impact of the
    proposed budget adjustments to Council’s financial sustainability indicators.

    3.         Proposed Operating Budget Adjustments
    The proposed operational budget adjustments will result in a $744k increase to the operating
    deficit. The following table summarises the operational carryovers by type of funding, with a
    detailed list contained in Attachment 1. The financial statements in Attachments 4 and 5
    outline the revised budget position as a result of these proposed adjustments.

        Type                                       Submissions             Revenue               Expense
                                                                             ($’000)               ($’000)
        Grant Funded                                     8                     $358                $1,127
        General Revenue and Reserve Funded               1                       $25                    $-
        Total                                            9                       $383              $1,127


    4.         Proposed Capital Budget Adjustments
    A total of 17 budget review submissions were received for capital works, with a proposed
    increase of $110k to the 2020/21 capital works program. All capital submissions have been
    reviewed by the Capital Works Executive.
    The table below summarises the budget submissions by program and categorised as:
              Emergent Works: Initiation of new capital works item which have arisen since BR1.
              Variation: Acceptance of tender, change in scope or reallocation of funds.
              Grant / Levy Funded: Initiation of works funded through successful grant application
               or utilisation of constrained reserves set aside for that purpose.
              Timing Adjustment: Commencement of construction has been delayed and works will
               straddle two financial years into 2021/22.
    The full list of submissions is contained in Attachment 2.

        Program                             Emergent    Variation     Grants /      Timing            Total
                                                                       Levies     of Works

        Capital Works
          Bridges                                $110                    $170                          $280
          Coastal Canals and Waterways           $110                                   ($190)        ($80)
          Community Facilities                   $135                     $20                          $155
          Parks & Playgrounds                                 ($5)                                      ($5)
          Pathways & Boardwalks                                          $225                          $225
          Stormwater Drainage                                                           ($560)       ($560)


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