2015-11-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      16 NOVEMBER 2015


 Finance Costs – generally in accordance with budget, though the year-end forecast for
   merchant fees will continue to be monitored.
 Depreciation expenses are currently running in accordance with budget forecasts.
 Other Expenses – generally in accordance with budget.

Figure 3: Recurrent Expenditure Position by Type
 $16
 $14
                                                       YTD Budget ($m)
 $12
                                                       YTD Actual ($m)
 $10
  $8
  $6
  $4
  $2
  $0
                          Materials




                                       Finance Costs




                                                               Depreciation
            Employees




                                                                              Other


Capital Revenue

YTD capital revenue received includes cash contributions from developers ($1.5m), together with
($0.4m) received for transport infrastructure capital grant funding. The $1.6m full year budget for
developer contributions has nearly been achieved.

Capital Works Program

Actual capital expenditure (excluding commitments) is $3.6 million against the full-year budget of
$31.3 million. Committed expenditure via official Council purchase orders totals $8.6m, with total
actual + committed funds totalling $12.2m as at the end of October. Works scheduling will
continue to be refined each month to ensure YTD budget performance can be reported
accurately. Adjustments from the budget review will increase the size of the total program to
$32.4 million. Detailed discussion of progress in the delivery of the capital works program is
provided quarterly to the Infrastructure and Services Committee.

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 31 October 2015 was $66.9 million. The cash balance includes constrained funding
carried forward for capital projects still under construction, plus unspent funds from special rates
and levies.

Council’s investment portfolio is balanced across a number of agencies, as shown in the graph
on the left. The graph on the right shows the current risk profile using industry credit ratings.




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