Financial Performance Report – June 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                17 JULY 2023


Category        Summary              Comments
                                           levy funds will be transferred to reserves
                                           for future use.
                                        • Library and Galleries $480.5k below
                                           budget (77.5% or $1.6 million of $2.1
                                           million annual budget spent) Note:
                                           $213.4k relates to levy funded projects any
                                           net balance of levy funds will be
                                           transferred to reserves for future use.
                                        • Strategic Land Use Planning $429.1k
                                           below budget (41.6% or $305.7k of
                                           $734.8k annual budget spent.
                                        • Sustainable Transport program $280.6k
                                           below budget (73.4% or $775.9k of a $1.0
                                           million annual budget spent) Note: any
                                           balance of levy funded projects will be
                                           transferred to reserves for future use
                                        • Economic Development $178.7k below
                                           budget (95.4% or $3.7 million of $3.9
                                           million annual budget spent)
                                        • Digital Hub $98.7k below budget (84.9% or
                                           $553.1k of $651.8k annual budget spent)
                                        • Information Communication & Technology
                                           $251.4l below budget (93.9% or $3.9
                                           million of $4.1 million annual budget spent)
                                        • Infrastructure Planning, Design & Delivery
                                           $208.7k below budget (51.5% or $221.2k
                                           of $429.9k annual budget spent)
                                        • Building and Facilities $206.1k below
                                           budget (81.1% or $883.7k of $1.1 million
                                           annual budget spent)
                                        • Waste Management $194.5 below budget
                                           (98.5% or $13.0 million of $13.2 million
                                           annual budget spent)
                                        • Development Assessment $189.7k below
                                           budget (86.3% or $1.2 million of $1.4
                                           million annual budget spent)
                                        • Procurement $177.8k below budget
                                           (87.0% or $1.2 million of $1.4 million
                                           annual budget spent)
                                        • Community Development $173.5k below
                                           budget (87.9% or $1.2 million of $1.4
                                           million annual budget spent)
                                        • Fleet $86.2k below budget (94.0% or $1.3
                                           million of $1.4 million annual budget spent)
                                        • Council properties $69.4k below budget
                                           (88.0% or $505.8k of $574.9k annual
                                           budget spent)
Finance Costs   Currently on track      • Whilst existing loan borrowings are set
                                           with fixed interest rates, any further RBA
                                           rate rises will impact finance costs on new
                                           loan borrowings.
Depreciation    Currently on track      • Current inflationary conditions for
                                           construction inputs will continue to impact
                                           the value of Council’s infrastructure assets
                                           and depreciation. The annual asset
                                           revaluation cycle will quantify the financial
                                           risk by end of financial year.