2022-01-17 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                17 JANUARY 2022


3.      Capital submissions will be reviewed and authorised by the Capital Works Executive 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 a 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.
1.      Proposed Operating Budget Adjustments
A proposed 35 operational budget adjustments will result in a $61k improvement to the operating
deficit. The following table summarises the operational submissions 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              Net
                                                              ($’000)          ($’000)        ($’000)
    Grant Funded                                6              ($129)            $165             $37
    General Revenue and Reserve Funded          12                    $-       $1,439         $1,439
    Increased Revenue (Net)                     11            ($1,184)           $240         ($944)
    Levy and Waste Funded                       6               ($969)           $377         ($592)
    Total                                       35                  $383       $1,127          ($61)

2.      Proposed Capital Budget Adjustments
A total of 41 budget review submissions were received for capital works, with a proposed decrease
of $5.6 million to the 2021/22 capital works program. All capital submissions have been reviewed
by the Capital Works Executive. The following table summarises the proposed revised 2021/22
capital budget.

Total Capital Budget                                 Amount
                                                     ($'000)
Original Budget                                          $46,897
BR1 Adjustments                                            $6,797
Current Capital Expenditure Budget                       $54,694
Proposed BR2 Adjustments                                 ($5,615)
Revised BR2 Capital Expenditure Budget                   $48,079

The following table summarises the budget submissions by program and categorised as:
•     Emergent Works: Initiation of new capital works items which have arisen since BR1.
•     Variation: Acceptance of tender, change in scope, reallocation of funds or savings realised
      upon completion with project being under budget.
•     SEQCSP Grant: Council has been successful in being funded a three year $4 million grant
      under the South East Queensland Community Stimulus Package (SEQCSP). Budget review 2
      includes those projects scheduled for completion during 2021/22.
•     Timing Adjustment for Multi-year Projects: Where timing of design and construction works
      for major projects straddle multiple financial years, or commencement has been delayed, and
      the budget has been moved to the 2022/23 financial year to reflect revised timing.


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