Decision details

It is resolved that:

(A)      Council note the financial performance of Council for the first quarter, ending 30 September 2022, including a Quarter 1 Net Operating Result for the Year of $53.2M and the full year forecast of $89.0M, as outlined in the subject report and summarised in Attachment A to the subject report;

(B)      Council note the Quarter 1 Capital Works expenditure of $33.4M and a revised full year forecast of $196.6M, and approve the proposed adjustments to the adopted budget, including bringing forward $6.1M of funds into the 2022/23 capital budget and $0.5M from the capital works contingency as detailed in Attachment B to the subject report;

(C)      Council note the Technology and Digital Services Capital Works of $4.6M, net of disposals, and a full year forecast of $20.4M, and approve the allocation of $0.3M from capital works contingency as detailed in Attachment B to the subject report;

(D)      Council note the Quarter 1 Plant and Equipment expenditure of $1.4M, net of disposals, a revised full year forecast of $10.9M, and approve bringing forward $1.9M of funds into the 2022/23 budget and $30K from capital works contingency as detailed in Attachment B to the subject report;

(E)      Council note the Quarter 1 net Property Acquisitions of $114.6M, and the full year forecast net Property Acquisitions of $112.8M; and

(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 1, as detailed in Attachment C to the subject report.

Carried unanimously.

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