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