2022-03-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                       14 MARCH 2022


YTD Economic Development expenditure is below budget due to lower employee costs ($58k),
due the Branch Manager acting as Director of Environment & Sustainable Development for part of
the financial year. This has also impacted timing for delivery of initiatives under the Local Economic
Plan ($76k).
Tourism and economic development activity is funded through the general rate, with 5.8% of the
annual general rate committed towards tourism and economic development. Should actual general
rate revenue fall below budget, this does not impact Council’s contractual commitment to fully fund
all tourism and economic development activity. Any general rate revenue shortfall is funded
through other general revenue sources to ensure all planned activities are undertaken in full.
Capital Revenue
YTD capital revenue of $12.8 million received comprises cash contributions from developers ($1.7
million) and capital grants ($10.4 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                                                      $10.4
                                           $9.9                       YTD Budget ($m)
$10.0
                                                                      YTD Actual ($m)
 $8.0

 $6.0

 $4.0
               $1.6          $1.7
 $2.0                                                                      $1.0                 $0.7

 $0.0
                                                   Subsidies




                                                                                  Contributed
                   Contribution




                                                    Grants /




                                                                                    Assets
                     Cash

                        s




Capital Program
Actual capital expenditure (excluding commitments) is $20.6 million (YTD budget $24.8 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.

Figure 5: Capital Program Delivery Performance

$25.0
               $21.3
                                                                       YTD Budget ($m)
$20.0                       $17.7
                                                                       YTD Actual ($m)
$15.0

$10.0

 $5.0
                                            $2.1               $1.5
                                                                           $1.3             $1.3
 $0.0
                Capital works               Other capital                 Loan redemption




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