2016-07-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    18 JULY 2016


Figure 3: Recurrent Expenditure Position by Type
 $45
 $40
                                                         YTD Budget ($m)
 $35
 $30                                                     YTD Actual ($m)

 $25
 $20
 $15
 $10
  $5
  $0
                            Materials




                                         Finance Costs




                                                                   Depreciation
              Employees




                                                                                            Other
Capital Revenue

YTD capital revenue of $7.4 million received includes $2.5 million cash contributions from
developers, together with $4.9 million received as grant funding towards capital projects.

Capital Works Program

Actual capital expenditure (excluding commitments) is $28.1 million against the current full-year
budget of $35.6 million. Committed expenditure totals a further $3.3 million bringing the total of
actual and committed funds to $31.4 million (90% of the total program when excluding the
emergent works budget to be transferred to reserve for future use). Detailed discussion of
progress in the delivery of the capital works program is provided through a separate report by the
Infrastructure Planning & Design Manager. Unspent budgets for capital projects not practically
completed within the financial year will be carried forward to the 2016/17 capital budget as part of
the carryover process.

Performance Against Financial Sustainability Ratios

The following table provides a comparison of preliminary actual performance against Council’s
budgeted financial sustainability ratios. Actual performance is currently in line with or exceeds the
budgeted ratios, and aligns with the target ranges set in Council’s financial sustainability policy.

Ratio                           Budget                   Actual                   Target
Operating Surplus               1.1%                      9.5%                    0 – 10%
Net Financial Liabilities       14.1%                    -4.3%                    <60%
Asset Sustainability            131%                     124%                     >90%

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand at the end of June was $55.2 million.




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