2019-08-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                           12 AUGUST 2019


11                       BUDGET REVIEW 1 (BR1) FOR THE 2019-20 FINANCIAL YEAR
DOCUMENT INFORM AT ION




Author                            Manager Financial Services, Trent Grauf
                                  Corporate Services Department

Index                             ECM/ Subject/ 7.23 – 2019-2020 Budget

Attachments                       1.   Proposed Operating Budget Submissions
                                  2.   Proposed Capital Budget Submissions
                                  3.   Revised Capital Program
                                  4.   Revised Statement of Income and Expenditure
                                  5.   Revised Budget Financial Statements


EXECUTIVE SUMMARY
The Local Government Act 2009 and Local Government Regulation 2012 require Council to
undertake regular reviews of the adopted budget to ensure it remains reflective of planned
activities to be funded through the financial year. This first budget review for the 2019/20 financial
year (BR1) incorporates:
 Any capital or operating projects that were incomplete with unspent budgets at the close of
    the 2018/19 financial year and are eligible for carryover into the current budget year.
 Any new or emergent actions arising from Council resolution, Executive Team or Capital
    Works Executive action since the adoption of the original budget in June 2019.

In summary the budget review is proposing a decrease of $107k to Council’s operating surplus
resulting in a revised operating surplus of $29k.Capital grant revenue has increased by $1.6
million and the revised capital expenditure program equates to $30.9 million.

Item                                                   Original Budget      Adjustments Proposed Budget
                                                                ($’000)          ($’000)    (BR1) ($’000)

Operating Revenue                                              $98,656           $1,214           $99,870
Operating Expenditure                                          $98,520           $1,321           $99,841
Operating Result                                                  $136            ($107)             $29
Capital Grants and Contributions Revenue                        $4,608           $1,546            $6,184
Capital Works Expenditure                                      $28,399           $2,481           $30,880



RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 August 2019 and approve the proposed changes to the budget for the 2019/20
financial year as outlined in the Revised Budget Financial Statements attached to the report.




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