ordinary meeting of council to be held on tuesday, 26 april 2005 at ...

Ordinary Meeting <strong>of</strong> Council - 26 April 2005 3 / 5
Item 3
S03096
21 March 2005
is mainly due <strong>to</strong> the sale the Carlotta depot site and an increase <strong>of</strong> $2.7 million in Section 94
revenue compared <strong>to</strong> the 2004/2005 budget.
Should the Minister for Local Government approve the special rate variation <strong>to</strong> fund supplementary
environmental programs, the expected yield generated from a five per cent increase, less pensioner
rebates is shown as follows:
Year
$000’s
2005/2006 $1,760
2006/2007 $1,822
2007/2008 $1,885
2008/2009 $1,951
2009/2010 $2,020
2010/2011 $2,090
2011/2012 $2,163
The funding statement <strong>be</strong>low has <strong>be</strong>en prepared without the inclusion <strong>of</strong> the special rate variation.
If included, the “cash in” would increase <strong>to</strong> $93,893,500. Projects will also increase by $1,760,000
<strong>to</strong> $11,522,300. As projects associated with the Environmental Levy applications are “over and
above” current program works, the result <strong>of</strong> Council’s application for the levy will have no impact
on the balanced bot<strong>to</strong>m line as reported in the model.
Funding Statement
Management Plan
2004/2005
Revised Budget
2004/2005
Draft Budget
2005/2006
Total cash in $69,290,900 $69,805,900 $92,133,500
Total cash out $58,561,600 $58,428,900 $60,650,400
Headline Surplus $10,729,300 $11,377,000 $31,483,100
Less:
Funds <strong>to</strong> Restricted Assets $5,545,800 $5,730,800 $25,787,300
Funds <strong>to</strong> Depreciation Reserves $1,100,000 $1,100,000 $1,130,000
Operating Net Surplus $4,083,500 $4,546,200 $4,565,800
Capital Projects $8,874,500 $13,187,000 $9,762,300
Funded By:
Operating Net Surplus $4,083,500 $4,546,200 $4,565,800
Surplus Carried Forward $0 $423,400 $0
Section 94 $27,600 $200,800 $30,000
Other Restricted Assets $4,763,400 $8,016,600 $5,166,500
Net Surplus $0 $0 $0
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