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.
![Council quarterly budget review - feature photo](https://gilgandraweekly-4634.kxcdn.com/img/containers/assets/news/newsimages/old/gil-council-news.jpg/130ea93b1ae3a551f7cc9c4b96a2472c.jpg)
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.