ATTACHMENT 2 -STATEMENT OF RECOMMENDED BUDGET ADJUSTMENTS - 1 OCTOBER 2013 TO 31 DECEMBER 2013
Department Cost Centre
Income
Increase/
(Decrease)
Expenditure
Increase/
(Decrease)
Net Income and
Expenditure Forecast
FAVOURABLE/
(UNFAVOURABLE)
Transfers (to)
from
S94/Reserves
Net Surplus
(Deficit) Description
General Manager Community Economic Projects - 15,200 (15,200) - (15,200)
Additional economic development project funding required - Emergency Mgt - $10K -
Northern Gateway Project - $4K - Other - $1.2K.
General Manager - Subscriptions - 5,000 (5,000) - (5,000) Additional professional development costs
Council & Civic 7,100 6,000 1,100 - 1,100 Reimbursement for LG referendum - $7.1K, Increase in MIDROC subscription - $6K
General Revenue Interest Revenue (350,000) - (350,000) - (350,000)
Reduction in interest income mainly due to budgeted weighted average interest rate of
4.7% compared to the remainder of the year budget based on 3.7%
Loan Interest Repayments/SRV 32,384 32,384 - - - MIN233/13 (Dec). Additional Interest on $2m SRV loan funding
S94 Income 204,450 204,450 (204,450) - Additional S94 income transferred to reserves
Organisational Development Staff Costs - Organisational Development - (3,000) 3,000 - 3,000 Savings in salary (offset over expenditure in retirement costs)
Retirement Costs - 3,000 (3,000) - (3,000)
Over expenditure due to MALC redundancy job search claims and higher than expected
staff exits incurring 'gifts on retirement' payments (offset by savings in wages)
Strategic Planning S94 Projects - 14,000 (14,000) 14,000 - Allocation of $14k to Crowdy Head SLSC as per Greater Taree S94 Plan
Community Building Partnership - (3,294) 3,294 (3,294) - MIN229/13 (Nov) - Transfer unspent S94 back to reserves as project completed
Seashells resort, Lot 17/18 DP 7,000 7,000 - - - Initial income of $7k to commence rezoning (offset by expenditure)
Local Heritage Fund 2,050 2,050 - - - Donation from RSL of $2k for memorial clock works (offset by expenditure)
Big Swamp/Cattai CFOC 134,689 134,689 - - - Additional grant from CMA for $114.3k, plus interest of $20.4k (offset by expenditure)
Local Government Energy Efficiency 28,388 28,388 - - - Grant income (offset by expenditure)
Old Bar Beach Coastal Protection 78,786 78,786 - - -
Grant income received - $70.2K plus Council's contribution ($8.6k) from environmental
projects in accordance with the 89/11% split agreed with the Minister.
Governance Staff Costs - (35,200) 35,200 - 35,200 Savings in salary as 1 FTE position remains vacant
Finance Audit Fees - 9,800 (9,800) - (9,800)
MIN265 (Dec). Additional $9.8k for audit fees related to the review of infrastructure
assets useful lives & depreciation estimates
Rural Fire Service (61,996) (80,996) 19,000 - 19,000 Estimated savings due to reduction in contribution payable to RFS
Property & Procurement Properties 74,667 - 74,667 (74,667) - Sale of property (transferred to reserves)
Asset Planning Wingham Flood Warning - - - (2,650) (2,650) Project savings (transferred back to reserves)
SRV Works (28,713) 1,971,287 (2,000,000) 2,000,000 -
SRV loan funding as per MIN233/13 (Dec) - Stage 3 Manning Point Road total value $2.9m
funded by loan - $2m & 900k carryover SRV funds. Funding reduced by net interest
payments after LIRS
SRV Works - 370,000 (370,000) 370,000 -
Transfer $370k from Stormwater reserve for Pultney Street reconstruction to concurrently
remidiate the trunk stormwater drainage associated with this project.
Stormwater Management 6,050 - 6,050 (6,050) - Additional income received (transfer to reserves)
MR111 Lakes Way & Blackhead Rd 350,000 350,000 - - - Additional funding received from RMS (to be offset by expenditure)
MR90 Koribah Lane to Avalon Rd 770,000 770,000 - - - Additional funding received from RMS (to be offset by expenditure)
Natural Disaster 3,607,080 3,607,080 - - - Additional funding received from RMS (to be offset by expenditure)
Regulatory Services Building Services 5,000 - 5,000 - 5,000 Additional income received for OSSM
Development Services 2,500 - 2,500 - 2,500 Additional income received
Ordinance Control 50,000 - 50,000 - 50,000 Increase due mostly to sale of stock and follow up program for unregistered animals
Community Wellbeing Waste Management 472,000 - 472,000 (472,000) - Increase in Domestic Waste income compared to budget (transferred to reserves)
Waste Management - 275,000 (275,000) 275,000 -
MIN155/13 (Sept) - $250k, plus $25k for essential works to replace leachate pipeline to
sewer & reconstruct leachate pond.
Infrastructure Services Infrastructure Services - 8,830 (8,830) - (8,830) MIN229/13 (Nov) Macquarie St Carpark required urgent unscheduled maintenance
Infrastructure Services 6,000 6,000 - - - Additional income from private works (offset by expenditure)
Infrastructure Services (12,000) (12,000) - - - Correction to original budget internal works no longer required
ALL COST CENTRES 2nd Quarter Budget Movements - Surplus/(Deficit) 5,385,435 7,560,004 (2,174,569) 1,895,889 (278,680)
*Operational Result Balance Sheet Net Result
Opening Balance Adopted Budget - Surplus/(Deficit) 3,105,195 (3,528,790) (423,595) Deficit
Quarterly Reviews 1st Quarter Budget Result - Surplus/(Deficit) 191,504 - 191,504 Surplus
2nd Quarter Budget Result - Surplus/(Deficit) (278,680) - (278,680) Deficit
Amended Budget - Surplus/(Deficit) 3,018,019 (3,528,790) (510,771) Deficit
Staff Report C4 - Attachment (ii)