Council Minutes - Town of Cambridge

COUNCIL MINUTES
TUESDAY 20 DECEMBER 2011
Revenue
Total revenue is 100.5% of the year to date budget with $27.5 million actual revenue
against a year to date budget of $27.3 million.
Permanent Differences for Revenue
There are no permanent variances for revenue above $30,000 as at 30 November 2011.
Timing Differences for Revenue
There are no new timing variances for revenue above $100,000 as at 30 November 2011.
Expenditure
The expenditure for the period ended 30 November 2011 was below the year to date
budget with actual expenditure being $14.3 million against year to date budget of $15.5
million, a variance of $1.2 million or 9%.
The majority of this variance represents materials and contracts expenditure not spent
with a number of maintenance programmes and projects yet to be commenced, and with
invoicing lagging (works completed during the month not yet invoiced).
Material and contract expenses as at 30 November are $3.6 million against year to date
budget of $4.7 million.
Permanent Differences for Expenditure
There are no new permanent variances above $30,000 to report on.
Timing Differences for Expenditure
There are no new timing differences over $100,000 to report on as at 30 November 2011.
Overall Cash Surplus from the Rate Setting Statement
The surplus as at 30 November 2011 is $16 million which is close to year to date budget
of $15.5 million. This surplus will decline as the year progresses with day to day
operational expenditure and the carrying out of budgeted capital works.
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