Decision details

It is resolved that Council:

(A)        note the financial performance of Council for the third quarter, ending 31 March 2021, including the Quarter 3 Net Surplus of $79.5M and the full year Net Surplus forecast of $96.2M, as outlined within the report and summarised at Attachment A to the subject report;

(B)        note the Quarter 3 Capital Works expenditure of $170.5M and a revised full year forecast of $233.9M, and approve the proposed adjustments to the adopted budget, including transferring $0.1M from capital works contingency and bringing forward $0.4M of future year's funds into 2020/21 as detailed at Attachment B to the subject report;

(C)       note the Technology and Digital Services capital expenditure of $14.1M (net of disposals), the full year forecast of $21.6M, and approve the proposed increase of $0.1M to the adopted budget from the capital works contingency, as detailed at Attachment B to the subject report;

(D)       note the Quarter 3 Plant and Assets expenditure of $4.7M, net of disposals, and the full year forecast of $11.4M;

(E)        note the Quarter 3 net Property Divestment proceeds of $51.0M, and the full year forecast net Property Divestment of $37.3M;

(F)        Council note the supplementary reports, including contracts issued over $50,000, major legal issues and the Quick Response, Banner Pole and Reduced Rate Grant Programs in Quarter 3, as detailed in Attachment C to the subject report; and

(G)       note the third quarter Community Recovery Plan report, as shown at Attachment D to the subject report.

Carried unanimously.

X025796