Decision details

It is resolved that Council:

(A)      note the financial performance of Council for the second quarter, ending 31 December 2020, including the Quarter 2 Net Surplus of $31.9M and the full year Net Surplus forecast of $32.1M, as outlined within the report and summarised at Attachment A to the subject report;

(B)      note the Quarter 2 Capital Works expenditure of $129.9M and a revised full year forecast of $247.9M, and approve the proposed adjustments to the adopted budget, including bringing forward $0.03M of future year's funds into 2020/21 and approve $1.0M from the capital works contingency, as detailed at Attachment B to the subject report;

(C)      note the Information Services capital expenditure of $9.7M (net of disposals), the full year forecast of $23.6M, and approve the proposed adjustments to the adopted budget including bringing forward $2.1M of future year's funds into 2020/21 and approve $0.3M from the capital works contingency, as detailed at Attachment B to the subject report;

(D)      note the Quarter 2 Plant and Assets expenditure of $2.9M, net of disposals, and the full year forecast of $13.9M;

(E)      note the Quarter 2 net Property Divestment proceeds of $42.1M, and the full year forecast net Property Divestment of $76.3M;

(F)      note the operational performance indicators and Quarter 2 achievements against the Operational Plan 2020/21 objectives, as detailed at Attachment C to the subject report;

(G)      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 2, as detailed at Attachment D to the subject report;

(H)      note the Environmental Sustainability Progress Report, as shown at Attachment E to the subject report; and

(I)        note the second quarter Community Recovery Plan report, as shown at Attachment F to the subject report.

Carried unanimously.

X025796