General News
27 March, 2024
Council quarterly budget review
Gilgandra Shire Council (GSC) discussed the quarterly budget review (QBR) during the ordinary meeting held last month, February 20.
Gilgandra Shire Council (GSC) discussed the quarterly budget review (QBR) during the ordinary meeting held last month, February 20. Variances to the original estimates in the budget for the 2023/24 financial year were presented in the review.
As indicated by the review, the end of year result for the budget was a $2,551,295 surplus. The original budget estimate was an end of year surplus of $603,754, meaning GSC has seen a $1,947, 541 improvement to their financial standing.
Capital income for the period is stated to receive $1,043,736 additional income. This comes from an additional $878,444 as part of the Local Roads and Community Infrastructure (LRCI) program, as well as an expected additional $65,292 from land sales related to Aero Park.
Capital expenditure for the period is $637,749. This results from $25,000 spending on the Childcare strategy, $100,000 for the Rural Fire Service Shed for Deep Creek, and $18,450 for Sporting and Recreational development. Additionally, the Community Health strategy requires $35,000 in funding, and the Aero Park Subdivision requires an additional cost of $978,400 as the original estimate of $2,500,00 was insufficient.
This is offset by increased grant funding from the LCRI. Across the many services council operates, none this period have reported dramatic losses. Orana Living has reported $394,780 less income, but also a $148,000 decrease in expenses. Carlginda Enterprises has an additional $75,000 in income, offset by a $75,000 increase in expense. Cooee Villa has seen no noteworthy change, along with council home care packages.
Cooee Lodge reports $768,284 additional income, and $758,455 additional expense. Only the Jack Towney Hostel reports a majority loss, with $80,000 additional income from new residents, but also $120,000 additional expenses from providing for them. The general fund reports a $1,342,469 surplus, a $1,704,592 improvement on the estimated $362,123 deficit.
Water fund has remained stable, and the Sewer fund has improved by $98,000. Orana Living has seen a satisfactory increase to its surplus, along with the Cooee Lodge. Carlginda Enterprises, Cooee Villa, Home Care Packages, and the Jack Towney Hostel have all seen a worsening in their surplus. None are in deficit, and the change is enough to threaten the financial position of council.
The QBR shows a healthy return on investment and solid prospects for Gilgandra Shire Council moving forward. Expenses are manageable and a steady income is present.
The next QBR will detail how these services are delivering under newly approved council spending.
