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