2016-01-11 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         11 JANUARY 2016


Recurrent Expenditure (YTD Benchmark 50%)

Operating expenditure is currently 46% of the full year budget forecast. Areas of significant
variance will be monitored for possible adjustments as part of the December quarter budget review.
Detailed commentary for significant items appears below.

 Employee Costs – Actuals of $12.8m against the YTD budget of $13.1m and equates to 46%
   of the full year budget. Though there is a favourable variance in this area, all areas will continue
   to be monitored.
 Materials and Services – 44% of the full year budget ($17.5m) has been expended compared
   to the YTD budget of $19.2m. Variances generally relate to an under-expenditure against
   contract services, maintenance and special levies, with some works deferred until after the
   holiday period. As with employee costs, all variances are subject to ongoing review.
 Finance Costs – generally in accordance with budget.
 Depreciation expenses are currently running in accordance with budget forecasts.
 Other Expenses – generally in accordance with budget.

Figure 3: Recurrent Expenditure Position by Type

 $25

                                                        YTD Budget ($m)
 $20
                                                        YTD Actual ($m)
 $15


 $10


  $5


  $0
                          Materials




                                        Finance Costs




                                                                  Depreciation
             Employees




                                                                                 Other




Capital Revenue

YTD revenue received includes cash contributions from developers ($2.1 million), together with
($1.3 million) received for transport infrastructure capital grant funding. Year-end forecasts will be
considered for possible adjustment as part of the December quarter budget review.

Capital Works Program

Actual capital expenditure (excluding commitments) is $11.4 million against the revised full-year
budget of $32.4 million. Committed expenditure totals a further $10.9 million bringing the total of
actual and committed funds to $22.3 million (68.8% of the total program. Detailed discussion of
progress in the delivery of the capital works program is provided quarterly to the Infrastructure and
Services Committee.




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