It is resolved that:
(A)
Council
note the financial performance of Council for the second quarter, ending 31
December 2025, including a Quarter 2 Operating Result (before interest, capital
grants and contributions, depreciation and capital related costs) of $53.3M and
the full year forecast of $115.6M and Net Operating Result of $47.0M and a full
year forecast of $113.1M 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 $122.4M and a revised full year
forecast of $278.3M, and approve the proposed adjustments to the adopted
budget, including bringing forward $5.5M of funds into the 2025/26 capital
budget, the transfer of $1.0M 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)
Council
note the Technology and Digital Services Capital Works expenditure of
$15.0M,and a full year forecast of $30.0M and approve the proposed adjustments
to the adopted budget, including bringing forward $4.1M of funds into the
2025/26 capital budget, the transfer of $1.3M 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)
Council
note the Quarter 2 Plant and Equipment expenditure of $5.3M, net of disposals,
and a revised full year forecast of $31.9M;
(E)
Council
note net Property Divestment of $8.1M as at quarter 2, and the full year
forecast for net Property Divestments of $122.3M;
(F)
Council
note the operational performance indicators and quarter 2 achievements against
the Operational Plan 2025/26 objectives, as detailed in Attachment C to the
subject report; and
(G)
Council
note the supplementary reports, which detail the quick response, street banner
and venue hire support grants and sponsorship programs, major legal issues and
international travel in the second quarter, as detailed in Attachment D to the
subject report.
Carried unanimously.
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