27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)

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Ordinary Meeting of Council - 27 February 2007 12 / 1 Item 12 S04708 16 January 2007 BUDGET 2006/2007 2ND QUARTER REVIEW AS AT END DECEMBER 2006 EXECUTIVE SUMMARY PURPOSE OF REPORT: To present to Council the quarterly financial review for the 2nd quarter ended 31 December 2006. BACKGROUND: This is a statutory requirement under the Local Government (Financial Management) Regulation Part 2 paragraph 7. COMMENTS: This review analyses the financial performance of the Council for the 2 nd quarter of the 2006/2007 budget, comparing actual expenditure and revenue for the quarter against the budget. RECOMMENDATION: That Council approve the budget transfers as outlined in this report. N:\070227-OMC-SR-03641-BUDGET 20062007 2ND QUART.doc/rmcwilliam /1
Ordinary Meeting of Council - 27 February 2007 12 / 2 Item 12 S04708 16 January 2007 PURPOSE OF REPORT To present to Council the quarterly financial review for the 2nd quarter ended 31 December 2006. BACKGROUND This is a statutory requirement under the Local Government Financial Management Regulation 1999, Part 2 Clause 7 and it is an essential aspect of Council’s financial management. At the Council meeting held on 13 June 2006, Council adopted the 2006-2010 Management Plan, which incorporated the annual budget for Council for 2006/2007. The resolution adopting this Management Plan was under Minute 210. COMMENTS General Budgetary Position This review analyses the financial performance of the Council for the 2nd quarter of 2006/2007 comparing actual expenditure and revenue for the quarter against budget. Council’s budgetary position for the quarter ended 31 December is well within expectations. The organisation’s year to date net expenditure shows a surplus of $8,026,065 compared to a budget surplus of $4,989,986, a positive variance of $3,036,079. It should be noted, however, that Domestic Waste is $241,150 under budget, Sec 94 Contributions are $5,666,458 over budget and Interest earnings on Sec 94 Contributions are also over budget by $313,797. As these amounts are externally restricted, it is appropriate that they are removed from the general budgetary surplus. This results in a positive cash variance of $1,804,660. The financial position of the Council is satisfactory, having regard to the original estimate of income and expenditure. This total variance is broken down as follows: Budget YTD Actual YTD Variance Expenditure $37,469,120 $36,111,217 $1,357,903 Income $42,459,106 $49,127,269 $6,668,163 Sub Total $4,989,986 $13,016,051 $8,026,065 Less External Restrictions ($6,221,405) Net Result $1,804,660 N:\070227-OMC-SR-03641-BUDGET 20062007 2ND QUART.doc/rmcwilliam /2
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Contents Page Part 1 Introduction 1
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• Participation, equity and acces
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(4) Within 28 days after adopting a
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Part 2 PAYMENT OF EXPENSES GENERAL
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Where applicable the standard of an
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Council shall meet the following co
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Travel Outside the Local Government
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Legal Expenses and Obligations 2.11
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Part 3 PROVISION OF FACILITIES GENE
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Meals and Refreshments Prior to or
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ADDITIONAL EQUIPMENT AND FACILITIES
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Part 4 OTHER MATTERS Acquisition an
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Ku-ring-gai Council Comparative Inf
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Below is a summary of the aims and
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• Domestic Waste per capita The p
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Average Rate per Residential Assess
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Outstanding Rates, Charges and Fees
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Reliance on Rates Revenue Reliance
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Dissection of Operating Expenses Th
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Total Operating Expenses (per capit
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Debt Service Ratio This indicator i
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Library Operating Expenses This ind
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Average Charge for Domestic Waste M
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Recyclables - Kilograms (per capita
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Number of Development Applications
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Legal Expenses to Total Planning an
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Net Recreation and Leisure Expenses
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N S W DEPARTMENT OF LOCAL GOVERNMEN
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Average Rate per Residential Assess
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Total Operating Revenue (per capita
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Debt Service Ratio 9.00% 8.00% 7.00
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Average Domestic Waste charge per R
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Number of Development Applications
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Net Recreation & Leisure Expenses (
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Department: DEVELOPMENT & REGULATIO
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27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)

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