Agenda - Byron Shire Council - NSW Government

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BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (46) The estimated staff hours for the preparation of this report and attached annexures was approximately 35 hours. 5 10 15 20 25 30 35 40 Statutory and Policy Compliance Implications In accordance with Clause 203 of the Local Government (General) Regulation 2005 the Responsible Accounting Officer of a Council must:- (1) Not later than 2 months after the end of each quarter (except the June quarter), the responsible accounting officer of a council must prepare and submit to the council a budget review statement that shows, by reference to the estimate of income and expenditure set out in the statement of the council’s revenue policy included in the operational plan for the relevant year, a revised estimate of the income and expenditure for that year. (2) A budget review statement must include or be accompanied by: (a) a report as to whether or not the responsible accounting officer believes that the statement indicates that the financial position of the council is satisfactory, having regard to the original estimate of income and expenditure, and (b) if that position is unsatisfactory, recommendations for remedial action. (3) A budget review statement must also include any information required by the Code to be included in such a statement. Statement by Responsible Accounting Officer This report indicates that the short term financial position of the Council is satisfactory for 2012/2013, having consideration of the original estimate of income and expenditure and budget revisions as per the 31 March 2013 Quarter Budget Review. The estimated Accumulated Surplus (Working Funds) closing balance of $665,900 is still below Council’s adopted target of $1,000,000 by an estimated $334,100. Council will need to carefully monitor the 2012/2013 budget over the remainder of the financial year. Significant savings attributable to vacant positions have resulted in the March 2013 Quarter Budget Review revealing a significant improvement to the estimated budgetary position of Council for 2012/2013. The budget deficit projected for 2012/2013 as per the December 2012 Quarter Budget Review has been recovered and now the budget is estimating to realise a surplus of $42,600 as at the 31 March 2013 Budget Quarterly Review. This is a pleasing result considering the unexpected loss of Financial Assistance Grant (FAG) income of approx $132,000 that has been absorbed. Ordinary Meeting Agenda 09/05/13
BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (47) 5 Report No. 12.6. Financial Sustainability Project Plan 2013/2014 Executive Manager: Corporate Management Report Author: Mark Arnold, Executive Manager Corporate Management File No: #E2013/26393 Theme: Corporate Management, Finance Services Summary: The Strategic Planning Committee meeting held on 28 March 2013 adopted (in part) Resolution 13-148. This Resolution in addition to providing in principle support to a strategic approach to managing the Financial Sustainability of Council also included the following actions: “2. request that reports be provided to Council on: (a) specific proposals outlined in the sustainability reform package including opportunities for reviewing contract services; and (b) the rationalisation of Council's property portfolio and the associated establishment of an Infrastructure Fund. 3. develop a Financial Sustainability Project Plan (FSPP) which provides for communication on proposed reforms to the community. 4. submit progress reports in implementing the FSPP to the Council's Finance Committee. 5. issue a press release as soon as possible highlighting the proposed financial sustainability package.” This report has been prepared to allow Council to consider the draft “Financial Sustainability Project Plan 2013/2014” which has been prepared in accordance with part 3. of Council Resolution13-148. RECOMMENDATION: 10 That Council adopt the Financial Sustainability Project Plan 2013/2014 (#E2013/23493). Attachments: 15 Byron Shire Council Financial Sustainability Project Plan 2013/2014 #E2013/23493 [26 pages] ......................................................................................................... Annexure 14 Ordinary Meeting Agenda 09/05/13
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Agenda - Byron Shire Council - NSW Government

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