Council Minutes - Town of Cambridge

COUNCIL MINUTES
TUESDAY 20 DECEMBER 2011
Cash Surplus
20
16
Millions
12
8
4
0
July Aug Sep Oct Nov Dec Jan Feb Mar Apr May June
III.
Capital Works Programs
Budget
Actual
The total amount of funds spent on the Town’s capital works program for the period
ended 30 November 2011 is $2.8 million against year to date budget of $5.6 million, a
variance of $2.8 million.
A brief overview of the capital works programs at year end shows buildings $0.5 million
against year to date budget of $1.1 million. A number of major project timelines have
already been reviewed and adjusted. The remaining capital project timelines are
currently under review as part of the mid year budget review which is expected to bring
year to date budgets more in line with actual progress,
Parks and Reserves expenditure is $0.5 million against year to date budget of $1.1
million, roads and lanes $0.6 million against year to date budget of $1.9 million and
footpaths $0.2 million against year to date budget of $0.5 million.
Capital works projects are very much seasonally influenced with major road works being
carried out during summer.
VI.
Budget Reallocations
No budget reallocations or adjustments have been received:
POLICY/STATUTORY IMPLICATIONS:
The Local Government Act 1995, Section 6.4 requires the preparation of financial reports. The
Local Government (Financial Management) Regulations 1996, in particular Regulation 34,
expands on this requirement to include a monthly financial report to be prepared identifying
significant variations between actual and budget. This report complies with this requirement.
FINANCIAL IMPLICATIONS:
The variations in expenditure and revenue line items, compared to budget, may have an impact
on Council funds.
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