Attachments: 1. Supporting Attachment 2. Financial Performance Report December 2015 3. Summary Listing of Supplementary Valuations 4. Cash Development Contributions

Management report to Council Agenda Item 6.4 2015–2016 Second Quarter December 2015 YTD Financial Performance Report Council Presenter: Phu Nguyen, Chief Financial Officer 23 February 2016

Purpose and background

1. The purpose of this report is to inform the Future Melbourne Committee of the financial performance of the Council for the quarter ending 31 December 2015, in accordance with the Local Government Act 1989 and to provide information on supplementary valuations adopted by the Chief Executive Officer under delegation (refer Attachment 3).

Key issues

2. The preliminary result from ordinary activities for the quarter ending 31 December 2015 shows an underlying surplus on the Income Statement of $17.72 million. This is a favourable variance of $3.67 million against the budgeted underlying surplus of $14.05 million.

3. The most significant revenue variances have occurred in parking fees ($1.29 million favourable), sales and recoveries ($0.96 million favourable), grants and subsidies ($0.71 million favourable), intercompany revenue ($0.80 million unfavourable) and net rates ($0.60 million unfavourable). The more significant expenditure variations arose in employee costs ($1.10 million favourable), material and services ($1.05 million favourable) and depreciation costs ($0.40 million favourable).

4. The full year forecast projects a result of $4.21 million ahead of budget for 2015-16 as a result of projected favourable variances in revenue. The Council has previously resolved that amounts above and beyond the budgeted underlying surplus and gains made from surplus land sales be directed towards funding for the renewal of the Queen Victoria Market.

5. A detailed analysis of revenue and expenditure is included in Attachment 2.

Recommendation from management

6. That the Council accepts the quarterly financial performance report as at 31 December 2015.

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haneisText Box2015–16 Second Quarter December 2015 YTD Financial Performance report

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1

Supporting Attachment

Legal

1. Section 138 of the Local Government Act 1989 provides that at least every three months the Chief Executive Officer must ensure that a statement comparing the budgeted revenue and expenditure for the financial year with the actual revenue and expenditure to date is presented to the Council.

Finance

2. The financial implications are detailed in the body of the report and attachments.

Conflict of interest

3. No member of Council staff, or other person engaged under a contract, involved in advising on or preparing this report has declared a direct or indirect interest in relation to the matter of the report.

Stakeholder consultation

4. Consultation with the various branches of Council has been undertaken in preparation of this report.

Environmental sustainability

5. The financial performance for the quarter ended 31 December 2015 reflects many activities impacting on environmental sustainability. There is no direct impact on environmental sustainability from the recommendations in this report.

Attachment 1Agenda item 6.4

Council 23 February 2016

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FINANCIAL

PERFORMANCE

REPORT Dec 2015

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haneisText BoxAttachment 2Agenda item 6.4Council23 February 2016

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Executive Summary

Key Financial Implications: The year to date underlying surplus is $17.722 million, which is $3.668 million favourable against budget. The most significant variances are: Parking Fees ($1.292 million Fav) due mainly to higher than anticipated parking meter revenue. Employee Costs ($1.098 million Fav) due mainly to savings on net vacant positions. Materials & Services ($1.049 million Fav) due mainly to timing of administrative expenses, professional

costs and utilities costs. Sales & Recoveries ($0.958 million Fav) due mainly to grants-in-kind revenue and higher legal cost

recoveries. Grants & Subsidies ($0.709 million Fav) due mainly to additional grants in relation to Dockland Park

Enhancement. Finance Income ($0.457 million fav) due to higher investment income. Intercompany Revenue ($0.801 million Unfav) due to lower than expected returns from subsidiaries. Rates ($0.604 million Unfav) due mainly to timing of valuer general adjustments.

Underlying Operating Results

2014-15 2015-16 $000sActual Budget Budget Actual Variance

422,832 409,688 Revenue 208,388 211,032 2,644375,620 385,804 Operating Expenditure 184,191 181,341 2,850

47,212 23,884 Results from Ordinary Activities 24,197 29,691 5,4941,382 920 Net Gain/(Loss) on disposal of Assets 492 62 (430)

0 0 Transfer assets to external parties 0 0 011,562 0 Contributed Assets 0 375 375

60,156 24,804 Profit/(Loss) 24,689 30,129 5,440(31,940) (15,393) Less External Contributions to Capital (10,635) (12,032) (1,397)

(364) 0 Less Gain on Investment Revaluation 0 0 0(11,562) 0 Less Contributed Assets 0 (375) (375)

0 0 Add Transfer Assets to External Parties 0 0 0232 0 Add Writedown on Investment 0 0 0

16,522 9,411 Underlying Surplus/(Deficit) 14,054 17,722 3,668

Year to Data

Council Works Program The value of works completed is $39.042 million compared to the planned $42.196 million work.

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Table of Contents

Page Income Statement 4 Balance Sheet 5 Cash Flow Statement 7 Revenue Details 9 Expense Details 12 Council Works – Expenditure 15 Investment Portfolio Performance 16

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$ Thousands Period: Dec-15

2014-15 2015-16Actual Budget Budget Actual Variance

REVENUE

231,190 243,601 Rates 123,444 122,840 (604)33,389 22,234 Grants & Subsidies 14,227 14,935 70812,111 6,000 Cash Development Contributions 3,001 3,271 27049,270 46,593 Parking Fees 23,676 24,968 1,29243,813 43,628 Fines 22,393 22,108 (285)22,262 23,247 Sundry Fees & Charges 12,295 12,713 4188,088 8,058 Property Rental & Hire 3,765 3,996 2317,409 3,487 Sales & Recoveries 1,693 2,651 9583,416 652 Finance Income 154 611 4576,780 7,761 Intercompany Revenue - City Wide 1,526 1,109 (417)5,104 4,429 Intercompany Revenue - QVM 2,214 1,830 (384)

422,832 409,688 Total Revenue 208,388 211,032 2,644

EXPENDITURE

132,797 139,429 Employee costs 67,463 66,365 1,098150,753 149,898 Materials & Services 71,225 70,176 1,049

9,808 10,701 Finance & Insurance Costs 5,510 5,302 20857,684 59,749 Depreciation & Amortisation 29,675 29,268 40710,373 12,205 Maintenance Costs 4,727 4,608 11913,216 12,533 Grants & Contributions 5,387 5,407 (20)

990 1,287 Government Taxes & Levies 203 215 (12)375,620 385,804 184,190 181,341 2,849

1,382 920 Total Gain/(Loss) on Sale 492 62 (430)0 0 Transfer assets to external parties 0 0 0

11,562 0 Contributed Assets 0 375 37560,156 24,804 24,690 30,128 5,438

(31,940) (15,393) Less External Contributions to Capital (10,636) (12,031) (1,395)(364) 0 Less Gain on Investment Revaluation 0 0 0

(11,562) 0 Less Contributed Assets 0 (375) (375)0 0 Add Transfer Assets to External Parties 0 0 0

232 0 Add Writedown on Investment 0 0 016,522 9,411 Underlying Surplus/(Deficit) 14,054 17,722 3,668

Income Statement

Profit/(Loss)

Year to Data

Total Operating Expenditure

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Period: Dec-15Prior Year Current Movement

2014-15 Dec-15 2014-15Actual Actual Actual

AssetsCurrent Assets

108,519 Ref 1 Cash assets 44,825 (63,694)25,552 Ref 2 Receivables 201,134 175,58210,030 Ref 3 Prepayments 1,821 (8,209)2,634 Other Current Assets (194) (2,828)

146,735 Total Current Assets 247,586 100,851

Non current assets31,658 Investments 31,658 010,852 Ref 4 Intangible Assets 12,478 1,626

3,552,267 Ref 4 Property, Plant & Infrastructure 3,637,930 85,6633,594,777 Total Non-Current Assets 3,682,066 87,2893,741,512 TOTAL ASSETS 3,929,652 188,140

LiabilitiesCurrent Liabilities

(59,420) Ref 5 Payables (64,271) (4,851)0 Ref 6 Income in Advance Rates (122,697) (122,697)

(28,606) Employee entitlements (28,832) (226)(1,663) Provisions (1,888) (225)

0 Loans & Borrowings (12) (12)(89,689) Total Current Liabilities (217,700) (128,011)

Non- current Liabilities(2,900) Employee entitlements (2,900) 0

0 Ref 7 Non-Current Loans & Borrowings (30,000) (30,000)(2,900) Total Non-Current Liabilities (32,900) (30,000)

(92,589) TOTAL LIABILITIES (250,600) (158,011)

3,648,923 NET ASSETS 3,679,052 30,129

Equity(1,892,914) Accumulated Surplus (1,910,043) (17,129)(1,756,009) Reserves (1,769,009) (13,000)

(3,648,923) TOTAL EQUITY (3,679,052) (30,129)

Balance Sheet$ Thousands

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Balance Sheet

Comparison to prior Year June 2015 Actual

1. Cash assets have decreased by $63.694 million due mainly to settlement of the Munro Site.

2. Receivables are higher by $175.582 million due mainly to rates and fire service levy receivables which are offset by income in advance rates and fire service levy payable.

3. Prepayments are lower by $8.209 million due mainly to settlement of Munro site.

4. Property, Plant and Infrastructure assets have increased by $87.289 million due to capital works ($40.756 million) and settlement of Munro Site ($76.345 million), which are partially offset by asset depreciation ($29.268 million).

5. Payables are higher by $4.851 million due mainly to higher accrued expense and fire service levy payable which is offset by higher receivables.

6. Income in advance rates increased by $122.697 million which is offset by increase in rates receivable.

7. Non-Recurrent Loan & Borrowings increased by $30.000 million due to loan from Clean Energy Finance Corporation for sustainability capital projects.

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Statement of Cash FlowsPeriod: Dec-15

2014-15 $Thousands 2015-16Actual Actual

Cashflows from Operating ActivitiesReceipts

351,454 Rates, Fees and Charges 182,22841,342 Grants and Other Contributions 10,5063,416 Interest 6119,140 Tax Equivalents - Subsidiaries 2,9376,250 Sales & Recoveries 2,651

411,602 198,933Payments

(133,691) Employee Costs (66,139)(152,096) Materials & Services (96,271)(33,460) Grants and Other Payments (15,520)

(319,247) (177,930)92,355 Net Cash Inflow / (Outflow) from Operating Activities 21,003

Cashflows from Investing Activities1,382 Proceeds/(Loss) from sale of property, plant & equipment 62

(87,302) Payments for property, plant & equipment (114,761)

(85,920) Net Cash Inflow / (Outflow) from Investing Activities (114,698)

Cashflows from Financing Activities2,744 Dividends received 2

0 (Repayments)/Proceeds from borrowings 30,0002,744 Net Cash Inflow / (Outflow) from Financing Activities 30,002

9,180 Net Cash Inflow/ (Outflow) from all Activities (63,694)99,339 Cash at beginning of the financial period 108,519

108,519 Cash at the end of Dec-15 44,8259,180 Movement in cash equivalents (63,694)

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Period: Dec-15

2014-15 2015-16Actual Actual

62,157 Net Surplus/(Deficit) from operations 30,129

Add Back Non-Cash Items57,684 Depreciation & Amortisation 29,268(1,382) Loss/(Profit) on Sale of Assets (62)

(364) Recognition of increase in investment 0(11,562) Non Current Assets Additions (375)

0 Transfer Assets to External Parties 0657 Writedown on Investment 0

107,190 Operating Surplus/(Deficit) before Non cash items 58,960

(12,635) Net Movement in Working Capital (34,576)0 Procees from borrowings 30,000

(87,302) Capital Expenditure (42,477)0 Purchase of Munro Site (76,345)

1,927 Proceeds from sale of assets 746

9,180 Net Cash inflow/(outflow) (63,694)

$ Thousands

Statement of Cash Flow (reconciliation)

On a year-to-date basis Council had a total cash outflow of $63.694 million. This is comprised of:

An operating surplus before non-cash items of $58.960 million;

Proceeds from sale of assets of $0.746 million;

An outflow associated with capital expenditure of $42.477 million;

An outflow on purchase of Munro Site of $76.345 million;

An inflow from borrowings of $30.000 million; and

An outflow from working capital of $34.576 million.

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YTD Revenue Summary

$ Thousands Period: Dec-15

AnnualBudget REVENUE Budget Actual Variance

243,601 Ref 3.1 Net Rates 123,444 122,840 (604)22,234 Ref 3.2 Grants & Subsidies 14,227 14,935 7086,000 Ref 3.3 Cash Development Contributions 3,001 3,271 270

46,593 Ref 3.4 Parking Fees 23,676 24,968 1,29243,628 Ref 3.5 Fines 22,393 22,108 (285)23,247 Ref 3.6 Sundry Fees & Charges 12,295 12,713 4188,058 Ref 3.7 Property Rental & Hire 3,765 3,996 2313,487 Ref 3.8 Sales & Recoveries 1,693 2,651 958

652 Ref 3.9 Finance Income 154 611 45712,190 Ref 3.10 Intercompany Revenue 3,740 2,939 (801)

409,688 Total Revenue 208,388 211,032 2,644

Year to Date

13,000

26,000

39,000

52,000

65,000

130,000

0Net Rates Grants &

SubsidiesCash

DevelopmentContributions

Parking Fees Fines Sundry Fees& Charges

Prop Rental &Hire

Sales &Recoveries

FinanceIncome

Inter-CoRevenue

Actual Budget

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Analysis of Revenue Variances Budget $208.388m Actual $211.032m Variance $2.644m favourable

3.1 Net Rates -0.5% Variance ($0.604m) UnfavThis unfavourable variance is due mainly to $1.063 million valuer general adjustments (timing difference) which is offset by $0.316 million higher supplementary valuation income (permanent difference). 3.2 Grants & Subsidies 5.0% Variance $0.708m Fav This favourable variance is due mainly to:

$0.750 million additional grants from Places Victoria in relation to Dockland Park Enhancement Works (permanent difference);

$0.357 million fund for City Road Improvement project (permanent difference); $0.120 million Blackspot funding from VicRoads (permanent difference); and $0.121 million higher community service grants funding (permanent difference).

The above favourable variance is partly offset by:

$0.255 million arts grants received in year 2014-15 (permanent difference); $0.215 million cut of Federal government's budget allocation to Australia Council (permanent

difference); and $0.133 million commercial sponsorship for Melbourne Spring Fashion Week being less than expected

(partly timing difference).

3.3 Cash Development Contributions 9.0% Variance $0.270m FavThis favourable variance is due to higher Public Open Space contributions (timing difference).

3.4 Parking Fees 5.5% Variance $1.292m FavThis favourable variance is due mainly to $1.580 million higher parking meter revenue (timing difference) which is partially offset $0.169 million lower than expected reserved parking fees and towaway revenue (timing difference).

3.5 Fines (Parking Fines and General Fines) -1.3% Variance ($0.285m) UnfavThis unfavourable variance is due mainly to lower than anticipated parking infringements being issued as a result of non-compliance reduction, vandalised parking meters and lower vehicle turnover (partly timing difference).

This favourable variance is due mainly to: $0.533 million property services fees from Transfield as a result of outstanding works (permanent

difference);and $0.229 million higher than expected tree removal fees (permanent difference).

The above favourable variance is partially offset by:

$0.142 million lower than expected revenue from sales of tickets for the Melbourne Visitor Shuttle (partly timing difference);

$0.112 million lower building fees (timing difference); and $0.116 million lower than anticipated membership income from North Melbourne Recreation Centre

(timing difference).

This favourable variance is due mainly to $0.099 million additional revenue from Munro Site rental (permanent difference) and 0.090 million kerbside café revenue (timing difference).

3.6 Sundry Fees & Charges (excluding parking and hire fees) 3.4% Variance $0.418m Fav

3.7 Property Rental & Hire Fees 6.1% Variance $0.231m Fav

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Analysis of Revenue Variances Budget $208.388m Actual $211.032m Variance $2.644m favourable

The favourable variance is mainly due to: $0.217 million grants-in-kind revenue which is fully offset by grants-in-kind expenditure (permanent

difference); $0.142 million recoveries in relation to subsidiaries revenue (permanent difference); $0.121 million salary recovery from Melbourne Water (permanent difference); $0.237 million legal cost recoveries (timing difference); and $0.199 million other minor recoveries across council (timing difference).

This favourable variance is due to higher investment income as a result of year to date cash holdings being higher than budget (partly timing difference).

This unfavourable variance is due to lower than expected returns from Citywide and QVM (partly timing difference).

3.8 Sales & Recoveries (includes proceeds from asset sales) 56.6% Variance $0.958m Fav

3.9 Finance Income 296.8% Variance $0.457m Fav

3.10 Intercompany Revenue -21.4% Variance ($0.801m) Unfav

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YTD Expense Summary

$ Thousands Period: Dec-15

AnnualBudget Budget Actual Variance

EXPENDITURE

139,429 Ref 4.1 Employee costs 67,463 66,365 1,098149,898 Ref 4.2 Materials & Services 71,225 70,176 1,04910,701 Ref 4.3 Finance & Insurance Costs 5,510 5,302 20859,749 Ref 4.4 Depreciation & Amortisation 29,675 29,268 40712,205 Ref 4.5 Maintenance Costs 4,727 4,608 11912,533 Ref 4.6 Grants & Contributions 5,387 5,407 (20)1,287 Ref 4.7 Government Taxes & Levies 203 215 (12)

385,804 Total Expenditure 184,190 181,341 2,849

Year to Date

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

Employee costs Materials &Services

Finance &Insurance Costs

Depreciation &Amortisation

MaintenanceCosts

Grants &Contributions

GovernmentTaxes & Levies

Actual Budget

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Analysis of Expense Variances Budget $184.190m Actual $181.341m Variance $2.849m favourable

The favourable variance is due mainly to savings on vacant positions. The savings have been offset by higher agency staff costs used to backfill positions (mostly permanent difference).

Materials and services are made up of a number of different cost categories. Major variances between actual and budget have occurred in the following categories:

Contractors and Intercompany Contractors unfavourable $3.567 million; Professional services favourable $2.544 million; Utilities expense favourable $0.484 million; Administrative expenses favourable $0.637 million.

The main variances in each category are listed below.

Contractors and Intercompany Contractors (unfavourable $3.567 million)

This unfavourable variance is due mainly to: Efficiency savings realised in other expenditure categories (timing/permanent difference); and Agency costs mainly used for backfilling vacant positions (mostly permanent difference).

The above favourable variances are partially offset by:

$0.391 million intercompany waste management service and maintenance works (timing difference); $0.294 million council property maintenance and cleaning costs (timing difference); $0.400 million aged care services expenditure being lower than anticipated (partly permanent

difference);and $0.156 million pre-election costs (timing difference).

Professional Services (favourable $2.544 million)

This favourable variance is due mainly to: $0.493 million lower costs in relation to arts projects. This favourable variance will offset unfavourable

arts grants revenue (permanent difference); $0.507 million consultancy expenditure in sustainability projects (timing difference); $0.361 million costs in relation to various events including Melbourne Spring Fashion Week and New

Years’ Eve (partly timing difference); $0.271 million later than anticipated consultancy engagement in relation to engineering services (timing

difference); $0.162 million legal/barrister costs (timing difference); $0.180 million in relation to urban strategy planning (timing difference); $0.174 million consultancy costs in relation to community projects including community education,

indigenous projects and homelessness projects (timing difference);and $0.117 million promotion expenditure in relation Knowledge Melbourne (timing difference).

Utilities Expense (favourable $0.484 million)

This favourable variance is due mainly to $0.241 million year to date tele-communication costs (timing difference) and $0.161 million water usage being less than anticipated as a result of water saving initiatives (permanent difference).

4.1 Employee Costs 1.6% Variance $1.098m Fav

4.2 Materials & Services 1.5% Variance $1.049m Fav

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Analysis of Expense Variances Budget $184.190m Actual $181.341m Variance $2.849m favourable

Administrative Expense (favourable $0.637 million)

This favourable variance is due mainly to: $0.215 million training programs (timing difference); $0.264 million lower advertising costs in relation to marketing campaigns (timing difference); $0.110 million property rental payments (timing difference); and $0.092 million court filing fees and Bylaw search fees related with lower parking fines revenue (partly

timing difference).

The favourable variance is due mainly to lower provision for PINs doubtful debts as a result of lower PINs revenue and timing variance relating to non-financial court results from Infringement Court (partly timing difference).

The favourable variance is due to timing of capitalisation of projects (timing difference).

This favourable variance is due to timing of maintenance works (timing difference). .

Minor unfavourable variance (timing difference).

Minor unfavourable variance (timing difference).

4.3 Finance and Insurance 3.8% Variance $0.208m Fav

4.4 Depreciation 1.4% Variance $0.407m Fav

4.5 Maintenance 2.5% Variance $0.119m Fav

4.6 Grants & Contributions -0.4% Variance ($0.020m) Unfav

4.7 Government Taxes & Levies -5.9% Variance ($0.012m) Unfav

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$ Thousands Period: Dec-15

2011-12 Council Works Area Full YearActual Budget Actual Variance Budget

Maintenance1,584 Capital Grants 400 67 333 1,8008,768 Maintenance 4,327 4,539 (212) 10,405

10,352 Total Maintenance 4,727 4,606 121 12,205

Capital WorksExpansion 642 350 292Upgrade 1,089 339 750

55,466 New Works 7,622 8,746 (1,125) 31,03348,947 Renewal 28,116 25,001 3,116 60,687

104,413 Total Capital Expenditure 37,469 34,436 3,033 91,721

114,766 Total Council Works Program 42,196 39,042 3,154 103,926

YTD Council Works Program Summary

Year to Date

$0.4m

$1.7m

$4.3m

$7.6m

$28m

$0.7m

$4.5m

$8.7m

$25.0m

Capital Grants

Upgrade/Expansion

Maintenance

New Works

Renewal

YTD Actual YTD Budge t

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Investment Portfolio Performance 2015-2016

The Investment Portfolio returned $6.861 million for the year to date, below the budgeted $7.043 million. The portfolio returned a yield of 4.14%.

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SUPPLEMENTARY VALUATIONS

Supplementary valuations are undertaken for a variety of reasons and these are prescribed in the Valuation of Land

Act 1960 (VLA). In February 2013, Council resolved to authorise that future supplementary valuation returns be

forwarded to the Chief Executive Officer and subsequently provide a quarterly report to Council.

In the October to December 2015 quarter, there were three supplementary valuation returns; the totals of these

returns are as follows;

Date NAV Change Total Rate

Change New Rates Exemptions Objections

8 Oct -2015 $16,151,740 $43,700.71 $769,137.13 ($40,808.44) ($684,627.98)

19 Nov 2015 ($25,941,650) ($1,745,894.04) $5,260.97 ($61,019.91) ($1,690,135.10)

23 Dec 2015 $12,768,625 $190,579.27 $257,437.01 ($66,291.68) ($566.06)

Total $2,978,715 ($1,511,614.06) $1,031,835.11 ($168,120.03) ($2,375,329.14)

The 2015-16 supplementary (new) rates budget is $3.61 million. The year to date actual for new rates is $3.20 million and the total rateable NAV is currently $5.503 million.

The 2015-16 objections budget is $3.80 million. The forecast actuals for objections is expected to be 4.68 million. This is due to consideration of significant issues affecting several properties.

See Attachment 3 for a listing of the significant assessments completed in these supplementary valuation returns.

Detailed listings of all supplementary valuation returns are attached to each supplementary return and are

available for inspection upon request.

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Ref # Address Category Previous NAV

Current NAV

NAV Change

Rate Change

Comments

8 October 2015

3 440-464 Footscray Road, West Melbourne Exempt $434,600 $434,600 $0 -$33,512.70Property reverts back to VicTrack, until a planning permit is granted.

4 11 Lygon Street, Carlton Exempt $52,200 $52,200 $0 -$4,077.28 RMIT property previously rateable, now exempt

11 359-373 Collins Street, Melbourne Objection $10,982,000 $15,186,200 -$4,204,200 -$392,886.71 VGV Approved Objection

17 11-37 Exhibition Street, Melbourne Objection $10,721,000 $11,823,500 -$1,102,500 -$103,029.73 VCAT Order

13 694-704 Collins Street, Docklands Objection $10,730,000 $11,440,000 -$710,000 -$66,350.21 VGV Approved Objection

8 457-471 Bourke Street, Melbourne Objection $4,606,900 $5,095,200 -$488,300 -$45,632.12 VGV Approved Objection

36 151-165 Franklin Street, Melbourne Supplementary $20,872,625 $1,736,500 $19,136,125 $576,420.52 Construction of 2 residential towers consisting of ground retail and 658 units.

67 557-591 Swanston Street, Carlton Supplementary $4,120,000 $1,543,000 $2,577,000 $122,536.35 Sale of 2 lots from Old CUB site

51 39-45 Marne Street, South Yarra Supplementary $1,892,500 $490,000 $1,402,500 $58,806.85 Construction of 9 residential units.

Balance of 352 assessments $110,762,825 $111,221,710 -$458,885 -$68,574.26

$175,174,650 $159,022,910 $16,151,740 $43,700.71

19 November 2015 2 239 Bourke Street, Melbourne Exempt $4,262,700 $4,283,900 -$21,200 -$56,016.54 Property part occupied by RMIT.

8 20-36 Wellington Parade, East Melbourne Exempt $23,500 $23,500 $0 -$2,567.56 Property reverted back to Vic Track.

25 147-185 William Street, Melbourne Objection $31,668,000 $39,368,300 -$7,700,300 -$719,600.74 VCAT Order

12 522-534 Collins Street, Melbourne Objection $25,866,000 $31,015,000 -$5,149,000 -$481,179.25 VCAT Order

17 300 La Trobe Street, Melbourne Objection $10,209,000 $12,711,700 -$2,502,700 -$233,879.84 VCAT Order

15 8 Exhibition Street, Melbourne Objection $16,943,000 $18,980,000 -$2,037,000 -$190,359.69 VCAT Order

51 65-79 Galada Avenue Parkville Supplementary $2,092,750 $122,500 $1,970,250 $50,560.78 Construction of a multi-unit development

Attachment 3 Agenda item 6.4

Council 23 February 2016

Overview of Supplementary Valuation Returns Page 20 of 22

 

55 1-39 Hobsons Road Kensington Supplementary $604,500 $302,250 $302,250 $8,795.97 Division of an assessment into many t Balance of 479 assessments $130,785,550 $141,589,500 -$10,803,950 -$121,647.17

$222,455,000 $248,396,650 -$25,941,650 -$1,745,894.04

23 December 2015 4 73-151 Therry Street, Melbourne Exempt $1,701,000 $1,696,000 $5,000 -$50,379.22 Exemption of vacant occupancies.

1 239 Bourke Street, Melbourne Exempt $3,983,000 $3,983,000 $0 -$9,498.83 Level 6, occupied by RMIT

9 Flat 2, 377-379 Victoria Street, West Melbourne

Objection $26,250 $32,000 -$5,750 -$241.10 VGV approved objection

7 10 Hawke Street, West Melbourne Objection $40,000 $45,500 -$5,500 -$230.62 VGV approved objection

12 141-155 City Road, Southbank

Supplementary $14,306,225 $757,500 $13,548,725 $295,731.16

Construction of multi-unit development (Southbank Grand) 515 residential units, 7 retail and rooftop lot.

33 82 Vale Street, East Melbourne Supplementary $339,000 $103,000 $236,000 $9,895.48 Subdivision of land from a 4 to a 3 unit development.

Balance of 208 assessments $9,264,350 $10,274,200 -$1,009,850 -$54,697.60

$29,659,825 $16,891,200 $12,768,625 $190,579.27

Total for second quarter 2015-16 $427,289,475 $424,310,760 $2,978,715 -$1,511,614.06

Page 21 of 22

Attachment 4 Agenda item 6.4

Council 23 February 2016

Cash Development Contributions

Date Address Amount

03-Jul-15 1/5 Argyle Pace East Carlton 40,500

16-Jul-15 276-282 City Road /33-37 Clark Street, Southbank 142,000

30-Jul-15 20 Chapman Street North Melbourne 105,000

14-Oct-15 159-161 Abbotsford Street Nth Melbourne 48,000

15-Oct-15 392-398 Victoria Street, Nth Melbourne 162,500

28-Oct-15 252-254 City Road Southbank 485,000

05-Nov-15 138-150 Rathdowne Street, Carlton 175,000

19-Nov-15 73-77 Cardigan St. Kensington 210,000

19-Nov-15 30 Rankins Road, Kensington SA-2013-141 65,000

11-Dec-15 496-504 Elizabeth Street, Melbourne 1,000,000

15-Dec-15 85-87 Lambeth Street, Kensington SA-2015-107 90,000

16-Dec-15 137/141 Bourke Street Melbourne 312,500

17-Dec-15 33-39 Racecourse Road North Melbourne SA-2015- 230,500

18-Dec-15 228 Dryburgh Street North Melbourne 85,000

21-Dec-15 159-167 Cardigan Street, Carlton 120,000

Total 3,271,000

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