Decision details

It is resolved that:

(A)        Council note the financial performance of Council for the third quarter, ending 31 March 2020, including the Quarter 3 Net Surplus of $77.0M and the full year Net Surplus forecast of $23.1M, as outlined in the subject report and summarised in Attachment A to the subject report;

(B)        the City provide casual employees who have no or limited useful work to do and have had their City of Sydney earnings impacted by the pandemic with the same access to the Job Retention Allowance provisions provided to permanent part-time  employees as outlined in the Local Government (COVID-19) Splinter (Interim) Award 2020, with the Job Retention Allowance to be paid from the week commencing 1 June 2020;

(C)        Council note the Quarter 3 Capital Works expenditure of $115.2M and a revised full year forecast of $207.8M, and approve the proposed adjustments to the adopted budget, including bringing forward $4.5M of funds into 2019/20 capital budget, as detailed in Attachment B to the subject report;

(D)        Council note the Information Services capital expenditure of $9.6M, net of disposals, and a full year forecast of $14.7M;

(E)        Council note the Quarter 3 Plant and Equipment expenditure of $9.1M, net of disposals, and the full year forecast of $15.5M; and approve a transfer of $1.2M of unspent motor vehicle funds to be repurposed to various equipment purchases;

(F)        Council note the Quarter 3 Property Divestment proceeds of $25.5M, and the full year forecast net Divestment of $23.6M; and

(G)       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.

Carried unanimously.

S096187