Decision details

It is resolved that:

(A)      Council note the financial performance of Council for the second quarter, ending 31 December 2022, including a Quarter 2 Net Operating Result for the year of $74.4M and the full year forecast of $98.9M, 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 $66.3M and a revised full year forecast of $185.9M, and approve the proposed adjustments to the adopted budget, including bringing forward $4.8M of funds into the 2022/23 capital budget and $1.4M 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 $8.7M, net of disposals, and a full year forecast of $23.7M, including bringing forward $4.0M of funds into the 2022/23 capital budget and $1.5M 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 $3.4M, net of disposals, a revised full year forecast of $12.8M;

(E)      Council note the Quarter 2 net Property Acquisitions of $96.5M, and the full year forecast net Property Acquisitions of $116.1M;

(F)      note the operational performance indicators and Quarter 2 achievements against the Operational Plan 2022/23 objectives, as detailed in 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 in Attachment D to the subject report.

Carried unanimously.

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