Previous Updates - Budget and Financial Sustainability
Welcome
We want to share with you Council’s current financial position, our challenges and our plans for achieving long term financial sustainability.
Previous updates
Use the links below to access previous updates.
Income and Expenses Reporting
2023/24 Budget Review for the quarter ended 30 September 2023 (Item R3)(PDF, 14MB)
2022/23 Financial Statements(PDF, 5MB)
2022/23 Budget Rollovers & Revotes (Item R3)(PDF, 30MB)
2022/23 Budget Review for the quarter ended 31 March 2023 (Item R4)(PDF, 14MB)
2022/23 Budget Review for the quarter ended 31 December 2022 (Item R4)(PDF, 27MB)
2022/23 Budget Review for the quarter ended 30 September 2022 (Item R2)(PDF, 10MB)
2021-22 Financial Statements(PDF, 17MB)
March 2022 Quarterly Budget Update(PDF, 28MB)
December 2021 Quarterly Budget Update(PDF, 18MB)
September 2021 Quarterly Budget Update(PDF, 16MB)
Income and Expenses in 2021/22(PDF, 14MB)
Capital Works
Capital Projects Q1 2023/24 update(PDF, 3MB)
Capital Projects for 2023/24(PDF, 23MB)
Capital Projects Q4 2022/23 update(PDF, 4MB)
Capital Projects Q3 2022/23 update(PDF, 3MB)
Capital Projects Q2 2022/23 update(PDF, 5MB)
Capital Projects Q1 2022/23 update(PDF, 3MB)
Capital Projects for 2022/23(PDF, 2MB)
Capital Projects Q4 2021/22 update(PDF, 3MB)
Capital Projects Q3 2021/22 update(PDF, 8MB)
Capital Projects Q2 2021/22 update(PDF, 6MB)
Capital Projects Q1 2021/22 update(PDF, 4MB)
Capital Projects for 2021/22(PDF, 17MB)
Our Plans
July - December 2023 Progress Update(PDF, 7MB)
January - June 2023 Progress Update(PDF, 9MB)
Operational Plan 2023/24(PDF, 23MB)
Long Term Financial Plan 2023/24 - 2032-33(PDF, 6MB)
Delivery Plan 2022/23-2025/26(PDF, 51MB)
Operational Plan 2022/23(PDF, 41MB)
Long Term Financial Plan 2022/23 - 2031/32(PDF, 18MB)
Long Term Financial Plan 2022/23 - 2031-32 Financial Challenges(PDF, 16MB)
Planning for the Future 2022(PDF, 15MB)
July - December 2022 Progress Update(PDF, 14MB)
January - June 2022 Progress Update(PDF, 14MB)
July - December 2021 Progress Update(PDF, 20MB)
Delivery Program & Operational Plan 2021/22(PDF, 65MB)
Our 2021/22 Budget
Each year Council develops a budget to provide infrastructure and services for the benefit of our community.
This year we have done our planning against a backdrop of challenges we have faced over the last five years including that our expenditure has grown at a greater rate than our income. The result of these is that Council’s 2021/22 budget shows a deficit result of $4.1 million.
We have been fortunate to have cash reserves to draw on and are able to maintain Council’s services, but this is no long term solution as our cash reserves are limited and are not being replenished. We have taken measures and are considering others in order to bring our budget back into surplus over time and secure our future financial sustainability.
The 2021/22 operating budget forecasts income of $114.5 million and operating expenses of $107.3 million. When we take away the $11.3 million in capital grants and contributions (money we receive from the Federal and State Governments for capital projects) from our total income of $114.5 million this leaves $103.2 million in operating income. When we then deduct our expenses of $107.3 million, we have an operating deficit of $4.1 million. We exclude the capital grants and contributions because they can only be used on capital projects, i.e. not on Council's day to day expenses.
Our budget also includes a Capital Works program of $31 million. $16.8 million is for new works and $14.2 million is for renewing existing assets. The program includes $5.93 million on renewing our roads and footpaths, $6.29 million on our parks and open spaces, $4.77 million on streetscapes including a new public plaza at Knox Street, Double Bay.
We will be reporting on our performance against our budget on a quarterly basis including our progress in addressing our financial challenges and ensuring our long-term financial sustainability.
Explore below for more detailed information about our budget and our financial challenges, including how we are addressing them