66 MID-WESTERN REGIONAL COUNCIL ORDINARY MEETING - 20 APRIL 2016 REPORT 9.2 9.2 Monthly Budget Review February 2016 REPORT BY THE MANAGER, FINANCIAL PLANNING TO 20 APRIL 2016 ORDINARY MEETING GOV400054, FIN300062 RECOMMENDATION That Council: 1. receive the report by the Manager, Financial Planning on the Monthly Budget Review February 2016; and 2. amend the 2015/16 Operational Plan in accordance with the variations as listed in the budget review attachments. Executive summary This report presents to Council the February Monthly Budget Review of the 2015/2016 Operational Plan. Disclosure of Interest Nil. Detailed report Clause 202 of the Local Government (General) Regulation 2005 states that the responsible accounting officer is to maintain a system of budgetary control that enables actual income and expenditure to be monitored each month and compared with the estimate of Council’s income and expenditure and that any material difference be reported to the next meeting of Council. Proposed Budget Variations The proposed contra variation is to increase the plant purchases budget by $595,000 in order to bring the utility change over period back to four years and passenger cars change over back to three years. This increase is funded from a transfer from Plant Reserve. Community Plan implications Theme Good Governance Goal An effective and efficient organisation Strategy Prudently manage risks association with all Council activities
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66 MID-WESTERN REGIONAL COUNCIL ORDINARY MEETING - 20 APRIL 2016 REPORT 9.2
9.2 Monthly Budget Review February 2016 REPORT BY THE MANAGER, FINANCIAL PLANNING TO 20 APRIL 2016 ORDINARY MEETING GOV400054, FIN300062
RECOMMENDATION That Council:
1. receive the report by the Manager, Financial Planning on the Monthly Budget Review February 2016; and
2. amend the 2015/16 Operational Plan in accordance with the variations as listed in the budget review attachments.
Executive summary This report presents to Council the February Monthly Budget Review of the 2015/2016 Operational Plan.
Disclosure of Interest Nil.
Detailed report Clause 202 of the Local Government (General) Regulation 2005 states that the responsible accounting officer is to maintain a system of budgetary control that enables actual income and expenditure to be monitored each month and compared with the estimate of Council’s income and expenditure and that any material difference be reported to the next meeting of Council.
Proposed Budget Variations The proposed contra variation is to increase the plant purchases budget by $595,000 in order to bring the utility change over period back to four years and passenger cars change over back to three years. This increase is funded from a transfer from Plant Reserve.
Community Plan implications Theme Good Governance Goal An effective and efficient organisation Strategy Prudently manage risks association with all Council activities
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Financial implications Proposed variations to the 2015/16 Operational Plan are included in the budget review attachments.
NEIL BUNGATE MANAGER, FINANCIAL PLANNING
LEONIE JOHNSON CHIEF FINANCIAL OFFICER
4 April 2016 Attachments: 1. Capital Program Update APPROVED FOR SUBMISSION: BRAD CAM GENERAL MANAGER
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