Agenda - Byron Shire Council - NSW Government

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BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (44) September Quarterly Review Adjustments – increase / (decrease) 0 Resolutions October - December Quarter – increase / (decrease) 0 December Quarterly Review Adjustments – increase / (decrease) 0 Resolutions January - March Quarter – increase / (decrease) 0 March Quarterly Review Adjustments – increase / (decrease) 0 Forecast Reserve Movement for 2012/2013 – Increase / (Decrease) 0 Estimated Reserve Balance at 30 June 2013 $741,800 Section 64 Developer Contributions Opening Reserve Balance at 1 July 2012 $3,836,700 Plus original budget reserve movement (1,579,000) Less reserve funded carryovers from 2011/2012 (1,258,100) Resolutions July - September Quarter – increase / (decrease) 0 September Quarterly Review Adjustments – increase / (decrease) 840,000 Resolutions October - December Quarter – increase / (decrease) 0 December Quarterly Review Adjustments – increase / (decrease) 26,300 Resolutions January - March Quarter – increase / (decrease) 0 March Quarterly Review Adjustments – increase / (decrease) 203,000 Forecast Reserve Movement for 2012/2013 – Increase / (Decrease) (1,767,800) Estimated Reserve Balance at 30 June 2013 $2,068,900 5 Unexpended Loans Opening Reserve Balance at 1 July 2012 $1,779,900 Plus original budget reserve movement 0 Less reserve funded carryovers from 2011/2012 0 Resolutions July - September Quarter – increase / (decrease) 0 September Quarterly Review Adjustments – increase / (decrease) 0 Resolutions October - December Quarter – increase / (decrease) 0 December Quarterly Review Adjustments – increase / (decrease) 0 Resolutions January - March Quarter – increase / (decrease) 0 March Quarterly Review Adjustments – increase / (decrease) (1,779,900) Forecast Reserve Movement for 2012/2013 – Increase / (Decrease) (1,779,900) Estimated Reserve Balance at 30 June 2013 0 10 15 20 Movements for the Sewerage Fund can be seen in Annexure 7(a), (pages 59 to 64 of 71) with a proposed estimated overall increase to reserves (including S64 Contributions and unexpended loans) of $227,000 from this review. It should be noted that unexpended loans of $1,779,900 have been transferred to the Capital Works Reserve. This is because works that the loan was originally drawn down for have been completed but loan funds are still available. The loan funding should have been utilised prior to utilisation of the Capital Works Reserve. This adjustment has no overall impact on overall Sewerage restricted funds. Legal Expenses One of the major financial concerns for Council over previous years has been legal expenses. Not only does this item represent a large expenditure item funded by rate income, but is also susceptible to large fluctuations. The table that follows indicates the allocated budget and actual legal expenditure within Council on a fund basis. Ordinary Meeting Agenda 09/05/13
BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (45) Total Legal Income and Expenditure as at 31 March 2013 2012/2013 Budget ($) Actual ($) Percentage To Revised Budget Program Income Compliance 0 0 0% Development Assessment 4,989 0 0% Total Income 4,989 0 0% Expenditure General Managers Office 163,100 8,432 5% Administrative Services 2,600 0 0% Property Services 10,400 1,165 11% Financial Services 0 2,270 - Crown Property 1,100 0 0% Council Caravan Parks 5,200 0 0% Asset Management Services 1,600 2,357 147% Development Assessment 235,700 107,878 48% Building Certification 1,100 0 0% Environmental Health Services 1,100 0 0% Compliance Services 188,500 35,993 19% Ranger Services 3,100 0 0% Community Planning 5,200 1,965 38% Total Expenditure General 618,700 160,060 26% Fund **Financial Services – S94 15,500 0 0% **Sewerage Fund 30,000 0 0% 5 ** These are restricted funds. The current status of the Legal Services Reserve is shown below: Legal Reserve 10 15 20 25 Opening Reserve Balance at 1 July 2012 $854,700 Less amount committed for Complaints investigations (Res 09-350) $(54,200) Less Resolution 10-960 $(191,300) Estimated Reserve Balance at 30 June 2013 as at 31 March 2013 $609,200 Fluctuations in legal expenditure can happen rapidly and for reasons not necessarily within Council’s control. Council has developed and is maintaining a legal reserve to enable Council to manage the potential fluctuations. The current reserve of $600,000 is considered adequate for this purpose at this time. Summary The 31 March 2013 Quarter Budget Review of the 2012/2013 Budget has produced an estimated surplus result of $288,100. This result will increase the estimated accumulated surplus (working funds) position attributable to the General Fund by $288,100 from $377,800 (includes resolution 13-170) to $665,900. Significant savings attributable to staff vacancies to date during the financial year and estimated associated expenditure for the final quarter of 2012/2013 financial year are the major reason a budget surplus has been recognised. In accordance with Resolution 13-137 the following information is provided to Council in all reports prepared for the 9 May, 13 and 27 June 2013 Ordinary Meetings: Ordinary Meeting Agenda 09/05/13
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Agenda - Byron Shire Council - NSW Government

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