City of Greater Bendigo Budget 2015/2016

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6.1.6 Public Furniture and Fittings ($3.74 million) For the 2015/16 year, $3.74 million will be expended on additional public furniture and fittings throughout the municipality, including seating, lighting, shade structures, bus shelters and playground equipment. Major projects include the purchase of bins for the proposed introduction of kerbside organic waste collection ($1.78 million), the construction of the Strathdale Park play space ($0.2 million) and renewal and upgrade of oval lighting at Golden Square ($0.23 million). 6.1.7 New Assets ($20.51 million), Asset Renewal/Upgrade ($22.88 million), Expansion ($12.35 million) A distinction is made between expenditure on new assets, expenditure on asset renewal/upgrade and expansion. Expenditure on asset renewal/upgrade is expenditure on an existing asset, which improves the service potential or the life of the asset. Expenditure on new assets will result in an additional burden for future operation, maintenance and capital renewal. 6.2 Funding Sources Sources of funding Ref Forecast Actual 2014/15 $’000 Budget 2015/16 $’000 Variance $’000 External Grants – Capital 6.2.1 5,738 14,171 8,433 Contributions 6.2.2 1,385 3,587 2,202 Proceeds on sale of assets 6.2.3 2,424 1,019 (1,405) 9,547 18,777 9,230 Internal Reserve Investments 6.2.4 1,795 3,466 1,671 Loan funds 6.2.5 4,000 5,000 1,000 Working Capital/Operations 6.2.6 36,684 28,496 (8,188) 42,479 36,962 (5,517) Total Funding Sources 52,026 55,739 3,713 Budgeted Funding Sources 2015/16 Grants - Capital 25% Working Capital/Operations 51% Contributions 7% Proceeds on sale of assets 2% Reserve Investments 6% Loan funds 9% Source: Appendix A 40 Greater Bendigo City Council Budget – 2015/16
6.2.1 Grants - Capital ($14.17 million) Capital grants include all monies received from State and Federal sources for the purposes of funding the Capital Works program. Significant grants are budgeted to be received in 2015/16 for the Bendigo Stadium ($2.6 million), Bendigo Airport Runway Project ($4 million), Bendigo Indoor Aquatic and Wellbeing Centre ($3 million) as well as increased funding for Roads to Recovery projects ($1.3 million). 6.2.2 Contributions ($3.59 million) Contributions are received from various sources to support the delivery of specific projects including Bendigo Stadium ($3 million). 6.2.3 Proceeds on Sale of Assets ($1.02 million) Proceeds from the sale of assets include plant and motor vehicle sales in accordance with Council's fleet renewal program of $1 million. Further funds will be generated from the sale of Council owned surplus properties. These proceeds will be transferred to the Land and Buildings Reserve. 6.2.4 Reserve Investments ($3.47 million) The Council has significant cash reserves. The reserves include monies set aside for specific purposes such as waste management facilities, carparking, building redevelopment and drainage works. During the Budget preparation process, Council determines how much of these reserves will be used to fund its annual Capital Works program. In 2015/16, $3.19 million will be used to fund part of the Capital Works program including $1.0 million towards Botanical Gardens – Garden for the future. 6.2.5 Loan Funds ($5 million) New borrowings of $5 million will be used to assist in the overall delivery of the Capital Works program, including significant projects such as the Bendigo Stadium, Bendigo Airport Runway Project and Bendigo Indoor Aquatic and Wellbeing Centre. 6.2.6 Working Capital/Operations ($28.50 million) In addition to reserve investments, the City of Greater Bendigo also has uncommitted cash and investments which represent working capital and funds preserved from the previous financial year. Cash is also generated from operating activities. $28.50 million will be available from operations and previously held cash investments to fund the 2015/16 Capital Works program. Refer to section 5, ’Analysis of Budgeted Cash Position’ for more information on funds from operations. Greater Bendigo City Council Budget – 2015/16 41
Page 1 and 2: City of Greater Bendigo Budget 2015
Page 3 and 4: TABLE OF CONTENTS Page Mayor’s In
Page 5 and 6: Mayor’s Introduction, Cr Peter Co
Page 7 and 8: 3. Cash and Investments 50.00 48.15
Page 9 and 10: 7. Strategic objectives 50.0 strate
Page 11 and 12: 1. Linkage to the Council Plan This
Page 13 and 14: 1.2 Vision and Values Council Visio
Page 15 and 16: 2. Services, Initiatives and Servic
Page 17 and 18: 4) Employ additional payroll staff
Page 19 and 20: 2.3 Theme 3 - Presentation and Vibr
Page 21 and 22: 18) Implement the Inclusion and Div
Page 23 and 24: Initiatives Services Group to assis
Page 25 and 26: 34) Develop an Environmental Sustai
Page 27 and 28: 3. Budget Influences This section s
Page 29 and 30: • The growing urban area means th
Page 31 and 32: To support requirements for new inf
Page 33 and 34: 100,000 Rates & Charges Income Comp
Page 35 and 36: Community Welfare 344 350 6 Materna
Page 37 and 38: Budgeted expense 2015/16 Borrowing
Page 39 and 40: 5. Analysis of Budgeted Cash Positi
Page 41 and 42: 5.1.4 Cash and Cash Equivalents at
Page 43: Budgeted Capital Works 2015/16 by A
Page 47 and 48: 7.1.1 Current Assets ($1.88 million
Page 49 and 50: 8. Strategic Resource Plan and Fina
Page 51 and 52: 8.3 Key Financial Indicators The fo
Page 53 and 54: 9. Rating Information This section
Page 55 and 56: The commercial/industrial propertie
Page 57 and 58: An additional recycle bin is availa
Page 59 and 60: • Infrastructure investment decis
Page 61 and 62: Appendices The following appendices
Page 63 and 64: APPENDIX A Comprehensive Income Sta
Page 65 and 66: APPENDIX A Statement of Changes in
Page 67 and 68: APPENDIX A Statement of Capital Wor
Page 69 and 70: APPENDIX B Appendix B - Rates and C
Page 71 and 72: APPENDIX B 1.3 The proposed percent
Page 73 and 74: APPENDIX B 1.9 The proposed unit am
Page 75 and 76: APPENDIX B 2. Rates 2.1 Rates to be
Page 77 and 78: APPENDIX B General Rate Land is any
Page 79 and 80: APPENDIX B The differential rate wi
Page 81 and 82: APPENDIX B a. Assist Council to mee
Page 83 and 84: APPENDIX C Appendix C - Capital and
Page 85 and 86: Capital Works Area Project Descript
Page 87 and 88: APPENDIX C Capital Works Area Proje
Page 95 and 96:
APPENDIX D Appendix D - Maps D - 1:
Page 97 and 98:
APPENDIX D D - 2 COMMERCIAL/INDUSTR
Page 99 and 100:
APPENDIX E Non-Renewal Business Cas
Page 101 and 102:
APPENDIX E Part C: Deliverability T
Page 103 and 104:
APPENDIX F City Futures Fees and Ch
Page 105 and 106:
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APPENDIX F Community Wellbeing Fees
Page 111 and 112:
APPENDIX F Community Wellbeing Fees
Page 113 and 114:
APPENDIX F Planning & Development F
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Page 121 and 122:
APPENDIX F Presentation & Assets Fe
Page 123 and 124:
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Page 127 and 128:
APPENDIX G Appendix G - Glossary of
Page 129 and 130:
APPENDIX G Term Local Government (P
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City of Greater Bendigo Budget 2015/2016

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