Decision details

It is resolved that Council:

(A)        note the financial performance of Council for the first quarter, ending 30  September 2019, including the Quarter 1 Net Surplus of 32.0M and the full year Net Surplus forecast of $45.9M, as outlined in the subject report and summarised in Attachment A to the subject report;

(B)        note the Quarter 1 Capital Works expenditure of $41.5M and a revised full year forecast of $270.8M, and approve the proposed adjustments to the adopted budget, including bringing forward $13.3M of funds into the 2019/20 capital budget, as detailed in Attachment B to the subject report;

(C)       note the Information Services capital expenditure of $2.6M, net of disposals, and a full year forecast of $19.4M;

(D)       note the Quarter 1 Plant and Assets expenditure of $3.6M, net of disposals, and the full year forecast of $19.2M;

(E)        note the Quarter 1 Property Divestment proceeds of $22.0M, and the full year forecast net Property Acquisitions of $134.7M; and

(F)        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.

S096187