You can find the Agenda and Attachments pdfs at this page.
The answers to Mal McKenzie and my Questions with Notice are placed unusually at the end of the Agenda on p.84.
I had posted these questions on my blog previously expectantly hoping to receive some definitive numbers. This is not the case. I’ll write more about this after Wednesday’s meeting.
Also of interest is the Quarterly Budget Review on p.52. There have been changes to the reporting method and these are explained in the Background on p.53.
“The new Guidelines introduce a new Financial Overview report which summarises the results / information contained in the other QBRS reports. It focusses on the following financial results:
1. Net Operating Results before Grants and Contributions for Capital Purposes
2. Operating Result from Continuing Operations (with capital grants and contributions) excluding depreciation, amortisation and impairment of non-financial assets
It should be noted that these are not results that were previously reported to Council through the QBRS process. Council has focussed on the ‘Net Operating Result from Operations’ and the ‘Net Budget Result’.”
Again, I’ll leave more comment until after the meeting however here are the last two paragraphs from the report.
“However, as has been identified previously, Council needs to continue with the implementation of the adopted Financial Sustainability Action Plan to address, over the medium term, the underlying general fund deficit position whereby it is presently generating insufficient revenue to cover all operating expenditures including depreciation.
The same focus will need to apply to both the Water and Sewer Funds. Both funds are currently projecting an Operating Surplus, however large capital works programs combined with escalating construction costs continue to put pressure on accumulated funds over the medium term. Borrowings will be necessary if the capital works programs are to be delivered within the planned timeframes.”