Decision details

It is resolved that Council:

(A)       note the financial performance of Council for the third quarter, ending 31 March 2025, including a Quarter 3 Operating Result (before depreciation, interest income, capital related costs and capital grants and contributions) of $90.6M and the full year forecast of $119.6M and Net Operating Result of $100.1M and a full year forecast of $134.3M as outlined in the subject report and summarised in Attachment A to the subject report;

(B)       note the Quarter 3 Capital Works expenditure of $154.5M and a revised full year forecast of $236.0M, and approve the proposed adjustments to the adopted budget, including bringing forward $8.13M of funds into the 2024/25 capital budget, the transfer of $0.1M from the capital works contingency, and to reallocate funds within relevant programs within capital budget as detailed in Attachment B to the subject report;

(C)       note the Technology and Digital Services Capital Works expenditure of $10.9M, and a full year forecast of $20.4M and approve the proposed adjustments to the adopted budget including bringing forward $0.05M of funds into the 2024/25 capital budget, the transfer of $0.44M from the capital works contingency, and to reallocate funds within relevant programs within capital budget as detailed in Attachment B to the subject report;

(D)       note the Quarter 3 Plant and Equipment expenditure of $14.8M, net of disposals, and a revised full year forecast of $23.3M;

(E)       note net Property Acquisitions of $70.4M as at Quarter 3, and the full year forecast for net Property Acquisitions of $65.3M; and

(F)       note the supplementary reports, which detail the quick response, street banner and venue hire support grants and sponsorship programs, major legal issues, international travel, and contracts over $50,000 within the quarter, as detailed in Attachment C to the subject report.

Carried unanimously.

X101909