September Quarterly Budget Review adopted
Council’s September quarterly budget review was presented and adopted by Council this afternoon.
In adopting Council’s September Budget Review Mr May agreed to ‘revote’ or transfer $32.3 million in project funding to the 2022-23 financial year.
Council’s original capital works program for the 2021-22 financial year was $68.6 million. Revotes from the 2019-20 financial year were $35.9 million, resulting in a revised capital works program of $104.5 million.
The reallocation of works totaling $32.3 million to the 2022-23 financial year is designed to break the cycle of perpetual revotes through a realistic and deliverable program which will provide greater certainty to the community in terms of timing and is part of the organisational reset program to re-establish credibility of Council to deliver.
Council’s total proposed capital works program is now $81 million for 2021-22.
This was seen as a positive step forward in ensuring that the Council’s Capital Works Program matched resourcing and capacity to deliver works. These amendments also reflect the anticipated expenditure for multi-year projects by identifying funds required for design this financial year and delivery in the following year.
Expenditure for major projects will now be distributed across the relevant financial years, when expenditure will be required. This includes upgrades to the Bowral Sewage Treatment Plant, improvements to the Moss Vale Cemetery and upgrades to the Southern Regional Livestock Exchange.
Mr May said transferring funds to the 2022-23 financial year would help break the cycle of perpetual revotes and provide greater transparency.
“I’m confident the newly appointed Executive team will set more realistic project timeframes and expectations and help restore the community’s confidence in Council,” he said.
Actions already undertaken to ensure major projects are better scoped include the appointment of specialist project staff including a Director Service and Project Delivery, procurement of new project management software and changes to budget distribution enabling multi-year allocations.
The quarterly budget review also detailed cost-savings made as result of reductions in Election expenses, Emergency Services expenses and employment costs associated with the commencement of Council’s new Executive team.
Following the quarterly adjustments Council anticipates reporting a balanced budget for the remainder of the 2021-22 Financial Year.