Decision details

It is resolved that:

(A)      Council note the financial performance of Council for the second quarter, ending 31 December 2023, including a Quarter 2 Net Operating Result for the year of $36.4M and the full year forecast of $107.8M, as outlined in the subject report and summarised in Attachment A to the subject report;

(B)      Council note the Quarter 2 Capital Works expenditure of $88.3M and a revised full year forecast of $220.3M, and approve the proposed adjustments to the adopted budget, including bringing forward $14.0M of funds into the 2023/24 capital budget and $0.8M 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 $9.2M, net of disposals and a full year forecast of $19.9M, including bringing forward $0.1M of funds into the 2023/24 capital budget and $1.3M from the capital works contingency as detailed in Attachment B to the subject report;

(D)      Council note the Quarter 2 Plant and Equipment expenditure of $3.5M, net of disposals, a revised full year forecast of $16.8M, including bringing forward $1.2M of funds into the 2023/24 capital budget and $0.4M from the capital works contingency as detailed in Attachment B to the subject report;

(E)      Council note the Quarter 2 net Property divestments of $0.4M, and the full year forecast net Property Acquisitions of $194.3M;

(F)      Council note the operational performance indicators and Quarter 2 achievements against the Operational Plan 2023/24 objectives, as detailed in Attachment C to the subject report; and

(G)      Council note the additional supplementary reports, which include details on code of conduct, major legal issues, street banner and venue hire support grants and sponsorship programs, fee-waived and discounted community facilities hire, international travel, property and land use matters approved under delegation and contracts over $50,000 are provided at Attachment D to the subject report for information.

Carried unanimously.

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