Ordinary Meeting of Council

 

 

 

To be held on
Monday 24 April 2017

AT 6.00pm

 

 

 

Cnr Baylis and Morrow Streets,
Wagga Wagga NSW 2650
PO Box 20, Wagga Wagga

 

Phone: 1300 292 442
Fax: 02 6926 9199
Website: www.wagga.nsw.gov.au

In pursuance of the provisions of the Local Government Act, 1993 and the Regulations there under, notice is hereby given that an Ordinary Meeting of the Council of the City of Wagga Wagga will be held in the Council Chamber, Civic Centre, Corner Baylis and Morrow Streets, Wagga Wagga, on Monday 24 April 2017 at 6.00pm.

 

 

 

Mr Robert Knight

Acting General Manager

 

 

 

 

 

 

 

QUORUM

The quorum for a meeting of the Council is a majority of the Councillors of the Council who hold office for the time being who are eligible to vote at the meeting.

COUNCIL MEETING ROOM

 

 

 

 

Ordinary Meeting of Council AGENDA AND BUSINESS PAPER

Monday 24 April 2017

ORDER OF BUSINESS:

CLAUSE               PRECIS                                                                                            PAGE

PRAYER                                                                                                                       3

ACKNOWLEDGEMENT OF COUNTRY                                                                          3

APOLOGIES                                                                                                                 3

CONFIRMATIONS OF MINUTES

CM-1           Ordinary Council Meeting - 27 March 2017                                    3

CM-2           Extraordinary Council Meeting - 3 April 2017                             3

DECLARATIONS OF INTEREST                                                                                    4

Mayoral Minutes

MM-1           Mayoral Minute - Group 9 Rugby League Sponsorship Request     5

MM-2           Mayoral Minute - Samoa vs NSW Country -  Rugby League World Cup Practice Match                                                                                    7  

Motions Of Which Due Notice Has Been Given

NOM-1         Items on Display for Public Feedback                                          9

Reports from Staff

RP-1            Responses to Questions/Business With Notice                         11

RP-2            Planning Proposal To Amend The Wagga Wagga Local Environmental Plan 2010 - Land At Old Bomen Road & East Street, Cartwrights Hill                                                                               14

RP-3            Response to Notice of Motion - Planning Task Force            30

RP-4            Slalom Water Skiing Proposal for Lake Albert                     35

RP-5            Community Engagement Relating to the Proposed BMX Pump Track at Emblen Park                                                                                   39

RP-6            Remote Control car track proposal                                        49

RP-7            Integrated Planning and Reporting - draft suite of documents  58

RP-8            Financial Performance Report and Quarterly Budget Review as at 31 March 2017                                                                                       75

RP-9            Airport Advisory Committee - Terms of Reference                94

RP-10          POL 089 Provision of Information to and Interaction between Councillors and Staff Policy                                                     106

 

 

RP-11          Audit, Risk and Improvement Committee Charter                   111

RP-12          Engineering Guidelines for Subdivisions and Development Standards                                                                                          126

RP-13          Sealing of Tooyal Road                                                                 127

RP-14          ACQUISITION OF CROWN LAND AT BOMEN                                        130

RP-15          Disability Inclusion Action Plan 2017-2021                                133

RP-16          Section 356 Donation - Wagga Women's Health Centre        137

RP-17          Section 356 Donation Request - Estella Easter Family Event 141  

Committee Minutes

M-1              Traffic Committee Minutes and Summary - Meeting held 9 March 2017                                                                                                       147

M-2              Floodplain Risk Management Advisory Committee Minutes - 6 December 2016 and 22 February 2017                                           167   

QUESTIONS/BUSINESS WITH NOTICE                                                                     178

Confidential Reports

CONF-1       RFT2017/16 Riverside Walking Track Construction Wiradjuri 179

CONF-2       RFT2017-516 Supply of One Wheel Loader                                  180

CONF-3       RFT2017/22 CLEANING OF COUNCIL BUILDINGS                                 181

CONF-4       RFQ2017/529 DENSELY GRADED ASPHALT SUPPLY & LAY                182

CONF-5       APPOINTMENT OF ADVISORY COMMITTEE MEMBERS                        183

CONF-6       Extraordinary Audit and Risk Committee Minutes - 23 March 2017 184  

PRAYER

 

 

ACKNOWLEDGEMENT OF COUNTRY

 

 

APOLOGIES

 

 

Confirmation of Minutes

CM-1              Ordinary Council Meeting - 27 March 2017       

 

Recommendation That the Minutes of the proceedings of the Ordinary Council Meeting held on 27 March 2017 be confirmed as a true and accurate record.

 

Attachments  

1⇩.

Minutes - Ordinary Council Meeting - 27 March 2017

185

 

 

CM-2              Extraordinary Council Meeting - 3 April 2017       

Recommendation That the Minutes of the proceedings of the Extraordinary Council Meeting held on 3 April 2017 be confirmed as a true and accurate record.

 

Attachments  

1⇩.

Minutes - Extraordinary Council Meeting - 3 April 2017

217

 

 

DECLARATIONS OF INTEREST

 

Mayoral Minute

MM-1              Mayoral Minute - Group 9 Rugby League Sponsorship Request

 

Analysis:

Group 9 Rugby League requested Council extend its support as a sponsor of the Group 9 Rugby League Grand Final for a further three years. The previous sponsorship arrangement was provided between 2013 and 2016.

 

 

Recommendation That Council: a       commit $1,000 for one year sponsorship (2017/2018) to Group 9 Rugby League b       encourage Group 9 Rugby League to submit an application in the Annual Grants program for future years

 

·    Council has been a sponsor of the Group 9 Rugby League Grand Final for the last three years (2013-2016)

 

·    Council provided $1,000 per year which supported the official Grand Final program with a full page colour advertisement marketing the city as a city of sports as well as the inclusion of a mayoral message.

 

·    In November 2016 Group 9 requested Council extend its support as a sponsor of the Group 9 Rugby League Grand Final for a further three years

 

·    Staff are currently reviewing policies which will enable requests such as these to be determined based on a clear criteria

 

·    Recommend that Council provide sponsorship for this year’s Grand Final while the policies are being reviewed

 

·    Encourage Group 9 Rugby League to consider submitting an application through our annual grants program for future years as an option

 

This proposed $1,000 sponsorship is suggested to be funded from within the Parks and Recreation operating budgets.

N/A

 

 

 

 

 

Growing Economy

Objective: We are a Regional Capital

Outcome: We attract and support local businesses and industry

 

No specific issues identified.

Consultation has occurred with staff, Councillors and Group 9 officials.

 

  

 

 

 

MM-2              Mayoral Minute - Samoa vs NSW Country -  Rugby League World Cup Practice Match

 

Analysis:

NSW Country Rugby League has recently made an approach regarding the hosting of a Ruby League game between Samoa and a NSW Country team. This game will be a practice match for the Samoan team prior to the 2017 Rugby League World Cup.   It is proposed that the game would be held either on 13 or 14 October 2017. Country Rugby League has requested financial support and assistance in the delivery of the event. The estimated cost of delivering the event is approximately $30,000 per team.

 

 

Recommendation That Council provide $14,415 support to the event that includes: i         $2,500 contribution to assist in the covering of event costs ii        $3,000 in additional infrastructure costs (toilets, fencing, etc) iii       $4,000 in in-kind staff support (planning, setup, pack up and venue management) iv       $2,675 of in-kind promotion through City of Wagga Wagga’s website and social media v        $2,240 donation of the ground hire fee in accordance with the Section 356 of the Local Government Act 1993

 

·          This event would see the Samoan International Rugby League team (currently ranked 4^th in the world) play in Wagga Wagga. This team will feature a number of current National Rugby League players.

 

·          In addition to playing the game the Samoan team will complete other community engagement activities.

 

·          It is expected the game will attract spectators from across the Riverina.

 

·          Wagga Rugby League will be given the catering and beverage rights to the game as well as the opportunity to sell the grandstand seating. The funds generated from these activities will be invested into the development of local sporting facilities.

 

·          The City of Wagga Wagga will receive recognition through the significant media coverage and live streaming of the event.

 

 

 

 

It is proposed that the cash and in-kind contributions be funded from within the existing Parks and Recreation and Events operating budgets.

 

The ground hire donation would be funded from the 2017/18 S356 donation budget.

Recreation and Open Space Strategy

 

Safe and Healthy Community

Objective: We promote a healthy lifestyle

Outcome: We promote participation across a variety of sports and recreation

 

No specific issues have been identified.

Internal consultation has occurred with staff, Country Rugby League, Group 9 Rugby League and Wagga Rugby League.

 

 

 

Motions Of Which Due Notice Has Been Given

NOM-1           Items on Display for Public Feedback

Author:          Councillor Dan Hayes

 

Analysis:

Council is committed to community consultation to ensure community members are part of Council’s decision-making process. Members of the public/community are encouraged to take the opportunity to read, examine or make comments on items that have been placed on public exhibition or which are open for public comment.

 

 

Recommendation That Council receive a report at the May 2017 or June 2017 Ordinary Meeting of Council outlining how decisions are made on which documents are put on public display for comment, when they affect the provision of services to the community. The report to take into account other aspects of the decision-making and project management process, including key milestones, which influence the nature and extent of community consultation, including legislative and procurement requirements in addition to industry best practice.

 

Public comment on Council projects and policies allows Council to consider community opinion into final documentations or decisions.

 

Community consultation in relation to a final draft is an important stage in increasing transparency and accountability for Councillors in the final decision-making process, in matters to be decided by Council.

 

Some items are placed on public exhibition or are part of a community consultation process, while others are not. An easily understandable process and/or policy which outlines how decisions are made in what goes out for public display, and what does not, will increase transparency.

 

A Report which takes into account a review by Council of its current process will assist a determination of whether this remains the best approach, including at what stage further consultation may be warranted.

 

To improve Councillor accountability and involvement, quarantining decisions on service changes from other elements of the process such as tender decisions may help achieve this.

 

N/A

N/A

Community Leadership and Collaboration

Objective: We are informed and involved in decision making

Outcome: Everyone in our community feels they have been heard and understood

 

No specific issues identified.

N/A

 

  

 

  

 

Reports from Staff

RP-1                             Responses to Questions/Business With Notice

Author:                                           Ingrid Hensley

Acting General Manager:         Robert Knight

         

Analysis:

The following are Responses to Questions/Business with Notice arising from the Ordinary Council meeting on 27 March 2017.

 

 

Recommendation That Council receive and note the report outlining responses to Questions/Business with Notice.

 

The Report below addresses the Questions/Business with Notice raised during the Ordinary Council Meeting held Monday, 27 March 2017.

 

1.         Councillor D Hayes asked if staff are looking at the roadside reserves grants and requested further information?

 

Response provided by the Community Sector

 

Funding is being sought under the roadside reserves grant. The project brief submitted is to develop a comprehensive Roadside Management Framework for the Wagga Wagga Local Government Area for implementation by December 2018. As studies have documented, the value of well-managed roadside reserves can deliver varied benefits to council via:

 

·    Cost savings: reduced maintenance costs by decreasing the need for mowing and weed control, stabilising banks and preventing road pavement waterlogging

·    Safety: reducing road accidents by decreasing headlight glare, reducing driver monotony and highlighting road delineation

·    Environment: seed source, wildlife habitat and habitat connectivity for threatened species and endangered ecological communities that are not represented in National Parks

·    Community and commercial uses: scenic amenity, shelter, shade and privacy, horse riding, cycling and walking, activities such as bee keeping, travelling stock routes, rest stops and associated business opportunities

·    Lower our risk exposure to legal or compliance action from inadequate management of our roadside vegetation, which encompasses large stretches of Endangered Ecological Communities.

 

If staff are successful in the funding a detailed project plan will be finalised to prepare and implement a Roadside Management Framework, which will allow staff to manage in an evidenced and more targeted way for roadside reserves. Without a Roadside Management Framework responses are in an adhoc way across our network.

 

2.         Councillor D Hayes asked if staff are looking at Smart Cities and requested further information?

 

Response provided by the General Manager

 

City of Wagga Wagga staff have been holding internal discussions around the recently announced ‘Smart Cities Plan” which includes $50M of funding in the Smart Cities and Suburbs Program. An internal working group has been set-up to develop a “Smart Vision” and list of potential smart enabling projects for the regional city of Wagga Wagga which will use Smart Technology and Infrastructure to deliver high economic and social impacts to the city. The group have met and held initial brainstorming discussions with technology and communication providers to discuss which types of smart investments in new technology might have the highest economic and social impacts for the city.

 

The group is also examining the potential to develop a more ambitious proposal for the larger “City Deals” initiative and have completed desktop research on the recent successful examples of city deals such as Launceston / University of Tasmania, Townsville, Sunshine Coast and Manchester (UK). The City deal initiative might deliver a more holistic and higher impact for delivering future economic and employment growth for the city.

 

Councillors and other stakeholders will be heavily engaged in this process over the coming weeks.

 

3.         Councillor D Hayes raised a query if any Council staff attended the PFOS contamination meeting, and if so, can Councillors receive an update on this in the Councillors bulletin?

 

Response provided by the Community Sector

 

The requested information was provided to Councillors through the bulletin on Friday, 31 March 2017. Information relating to the community walk-in sessions can be found through the following link:

 

http://www.defence.gov.au/id/PFOSPFOA/_master/docs/Wagga/170327_Presentation_CommunityWalkInSession.pdf

 

N/A

Code of Meeting Practice

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We are accountable and transparent

 

No specific issues identified.

N/A

 

  

 

 

 

RP-2                             Planning Proposal To Amend The Wagga Wagga Local Environmental Plan 2010 - Land At Old Bomen Road & East Street, Cartwrights Hill

Author:                        Tristan Kell

Sector Manager:       Natalie Te Pohe

         

Analysis:

This report is for a Planning Proposal to amend the Wagga Wagga Local Environmental Plan 2010. Council at an Ordinary meeting held on 27 March 2071 resolved to defer considering the planning proposal to allow staff to engage with the proponent of an adjoining property.

 

 

Recommendation That Council: a       receive and note the report on the proposed amendment to the Wagga Wagga Local Environmental Plan 2010 b       adopt the planning proposal c        use Council’s delegated authority to gazette the plan and notify the Department of Planning & Environment of the decision

 

Council at it’s Ordinary meeting held on Monday, 27 March 2017 resolved to defer consideration of the Planning Proposal until 24 April 2017. This was to allow City Officers to consult with the proponent of an adjoining property.

 

A copy of the Council report and the planning proposal is attached.

 

The planning proposal is to rezone Deferred Matter Area 1 to R5 Large Lot Residential with a one hectare minimum lot size and Deferred Matter Area 2 to RU1 Primary Production with a two-hundred (200) hectare minimum lot size. The Cartwrights Hill Precinct Map for noise and odour is to be extended to include Deferred Matter Area 1 & 2.

 

The Manager City Strategy subsequently held a meeting with Mr Kerry Christie and Mr Garry Salvestro from Salvestro Planning on Tuesday 28 March 2017. Mr Christie was advised that City Officers would not support incorporating his parcel of land within PP_2016_WAGGA_001_00. Mr Christie would need to lodge a separate Planning Proposal. Gateway Determination is specifically for Deferred Matter Areas 1 & 2.

 

A separate planning proposal would require:

i.        Relevant Council fee

ii.       Consistency with NSW A Guide to Preparing Planning Proposal

iii.      Impact of Bomen Industry and Bomen Industrial Sewage Treatment Facility (BISTIF) on new residential dwellings odour and noise

iv.      Strategic Merit

v.       Impact on Industrial Activity

vi.      Environmental Protection Agency Consultation

In advice received from the Department of Planning & Environment, Officers were advised that if Council were to consider altering the outcomes of the existing Gateway determination for the deferred land at Cartwrights Hill to include new development areas, it would require a revised Gateway determination.

 

Furthermore, the Department advised that any new or revised planning proposal for new residential areas in the vicinity of the deferred areas of Cartwrights Hill would need to be publicly exhibited.

 

The Department encouraged the Council to complete the planning process for the existing deferred areas in Cartwrights Hill. Any new proposed development area needs to be considered as a separate planning proposal.

 

If Council resolves to amend the existing planning proposal, the issuing of a revised Gateway determination and the subsequent need for re-exhibition of the planning proposal would significantly delay the completion of the proposed rezoning of deferred areas at Cartwrights Hill.

 

Mr Christie was formerly notified when his parcel of land was in the process of being re-zoned in 2013. Mr Christie indicated that he intended to subdivide his property. The Report to the Southern Joint Regional Planning Panel indicated that Mr Christie was informed that no further subdivision could take place once 62 Old Bomen Road, Cartwright’s Hill was zoned RU6, Rural Transition, which was gazetted in May 2015.

 

Mr Christie has provided Officers with information (attached) associated with LEC14/10415, which indicates the noise and odour impact on 62 Old Bomen Road. City Technical Experts have viewed the information provided by the consultant and are concerned that additional onus would be placed on industry in Bomen. Officers noted further information would be required prior to being in a position to assessing a planning proposal. 

 

The letter of notification sent out to property owners (21 January 2017) in the vicinity, in accordance with the public exhibition requirements, included Teys Australia. Teys management have since informed City officers that the letter was not received by their head office and have subsequently provided a submission. It should be noted that in order to ensure all correspondence is received by head office, Teys have identified their Group Environmental Manager as the key contact for future correspondence via email.

 

While the submission is outside of the public exhibition period, it is still relevant to the current matter. The Teys submission opposes the re-zoning of land associated with the 23 lots and any further subdivision at Cartwrights Hill and is attached to this report.

 

N/A

Environmental Planning and Assessment Act 1979

Wagga Wagga Local Environmental Plan 2010

 

The Environment

Objective: We plan for the growth of the city

Outcome: We have sustainable urban development

 

No specific issues identified.

Internal consultation has been undertaken with the LEP Working Group

 

Public exhibition occurred in accordance with the Environmental Planning and Assessment Act, 1979

 

A meeting was held between the Manager City Strategy, Mr Kerry Christie and Mr Garry Salvestro

 

 

1⇩.	Odour Map
2⇩.	Planning Proposal - Provided under separate cover
3⇩.	Salvestro Submission
4⇩.	Noise Contour Map
5⇩.	Teys Submission
6⇩.	Council Report

 

 

 

 

 

 

 

 

RP-3                             Response to Notice of Motion - Planning Task Force

Author:                        Tristan Kell

Sector Manager:       Natalie Te Pohe

         

Analysis:

This report is provided in response to the Notice of Motion presented by Councillor Pascoe at the Ordinary Council Meeting on 27 March 2017.

 

 

Recommendation That Council: a       note the approximate timeframes and update on Strategic Planning matters b       in accordance with the Policy responses contained within the Wagga Wagga Spatial Plan 2013/2043, resolve to accept planning proposals for Greenfield subdivisions within the containment line identified within the Spatial Plan once the Activation Strategy has been adopted by the Council c        continue to accept or prepare planning proposals for the following: i         Planning Anomalies or inconsistencies within the Wagga Wagga LEP 2010 ii        Amendments to the Wagga Wagga LEP 2010 that have positive economic or social impact pursuant to  the consideration of the Policy and Strategy Committee on 12 August 2013 and subsequent Council Resolution on 26 August 2013

 

At the Ordinary Council meeting on 30 May 2016 Councillors resolved:

 

That Council endorse the scope of work and timelines of the Planning Task Force as outlined in this report.

 

The scope within the report provided to Council on 30 May 2016 included the following:

 

·    Conduct relevant strategic work (as outlined below)

·    Review and amend the Local Environmental Plan 2010 (LEP)

·    Review and amend / rewrite the Development Control Plan 2010 (DCP)

·    Review and implement new Developer Contribution Plans (inclusive of Section 94, Section 94A and Section 64).

 

At the Ordinary Council meeting on 27 March 2017 Councillors resolved:

 

That Council receive a report at the 24 April 2017 Ordinary Council meeting, in relation to the purpose, constituency and deliverables of the Planning Task Force as outlined in the scope of works adopted in May 2016.

 

The following is provided in response to the resolution from the Ordinary Council meeting on 27 March 2017.

 

Purpose and Constituency of the Planning Task Force

 

In March 2016 the General Manager, Alan Eldridge committed to fast tracking an overhaul of the City of Wagga Wagga’s planning framework. The Planning Task Force was established to project manage this process in a timely manner to meet the needs of the community and to address previous commitments made.

 

The Planning Task Force was an internal temporary group of staff members formed to implement the specific project scope as identified in the report to Council on 30 May 2016. The Planning Task Force has recently dissolved as a result of the restructure and responsibility for the scope of works has transitioned to the City Strategy Division.

 

Update on Deliverables of the Planning Task Force

 

During the time the task force was in place a number of key actions were taken to progress the key projects identified to be completed as part of the planning task force. Progress included:

 

§  Development of Wagga View for the Community Strategic Plan.

§  Commencement of the logging of all development control plan and local environmental plan errors to be included in the review.

§  Preparation of a background document capturing relevant information that would inform the development of a Residential Strategy.

§  Preparation of a background document capturing relevant information that would inform the development of a Village Strategy.

§  Commencement of the draft Village Strategy.

§  Consultation with 9 villages and 3 rural communities to inform the Village Strategy.

 

Progress to date has seen the Wagga View: Community Strategic Plan 2040 endorsed by the Council in February 2017, along with assisting in the development of the Activation Strategy.

 

Update on Approximate Timeframes for Contribution Plans

 

Section 94 Plan

·      Priorities are being determined in alignment with the draft Transport and Recreation, Open Space and Community Strategies. A draft works schedule has been developed

·      A full reconciliation of the existing plan has been completed which details completed works, works to be carried over, works to be abandoned etc.

·      A consultant has been selected to undertake the complex elements of the plan including the apportionment of cost between developer contributions and ratepayers

·      Review of administrative clauses – there is a desire to simplify the language in the plan

·      Legal advice obtained on reallocating funds from the existing plan into the priorities contained in a new Section 94 Plan

·      Target date for Councillor Workshop – July 2017.

 

Section 94A Plan

 

·        Review of administrative clauses – there is a desire to simplify the language in the plan

·        Reduce the works schedule items to a few high profile items – Bomen enabling roads and the Riverside are the key priorities

·        Target date for Councillor Workshop – July 2017.

 

Sewer Development Servicing Plan

 

·      Immediate priority is to provide an addendum to the existing plan to capture the development areas in Bomen

·      Key desire to increase flexibility around timing and splitting of payments at the subdivision stage to ensure the charge properly reflects the impact of new development on our sewer systems

·      GHD have been engaged to prepare the addendum for Bomen and coordinate the master planning process for our sewer infrastructure

·      New Sewer DSP to be prepared following the master planning process

·      Review of administrative clauses – there is a desire to simplify the language in the plan

·      Target date for completion of Bomen addendum is June 2017.

 

Stormwater DSP

 

·      GHD have been engaged to coordinate the master planning process for our stormwater infrastructure

·      New Stormwater DSP to be prepared following the master planning process

·      Review of administrative clauses – there is a desire to simplify the language in the plan

·      Target date for completion of draft Stormwater DSP is August 2017.

 

Update on Approximate Timeframes for Delivery for City Strategy

 

Planning Document	Timeframe
Community Strategic Plan	Endorsed Feb 2017
Draft Integrated Transport Strategy and Plan	August 2017 – Presented to Council for adoption
Draft Recreation, Open Space and Community Strategy and Plan	July 2017 – Council for public exhibition October 2017 – Council for adoption
Draft Wagga Activation Strategy	July 2017 – Council for public exhibition October 2017 – Council for adoption and subsequently accept planning proposals for Greenfield development sites if adopted.
Wagga LEP Anomalies	July 2017 – Presented to Council to commence gateway process
Wagga DCP Review	June 2018 – Present to Council for public consultation
Comprehensive LEP	Commence review June 2018

 

While it is suggested that planning proposals for Greenfield developments are only accepted after the adoption of the Activation Strategy, it is proposed that amendments to the Wagga Wagga LEP 2010 that have positive economic or social impact are considered moving forward.

 

This is consistent with consideration by the Policy and Strategy Committee on 12 August 2013 with RP-13: Process for Consideration and Submission of Planning Proposals to Amend the Wagga Wagga Local Environmental Plan 2010 which recommended the following:

 

That Council:

a       endorse the process of submitting two Planning Proposals per year

b       consider the submission of additional Planning Proposals under Section 73A of the Environmental Planning and Assessment Act 1979 or Planning Proposals that have significant positive economic or social impact as detailed in the body of the report

This recommendation was then adopted by the Council at the 26 August 2013 meeting whereby the Council resolved the following:

That the Minutes of the Policy and Strategy Committee Meeting held on 12 August 2013 be confirmed and recommendations numbered CM-1, RP-1 to RP-11, RP-13, M-1 to M-3 contained therein be adopted excluding RP-12, RP-14.

 

There are no specific financial implications with the provision of this update.

Wagga View: Community Strategic Plan 2040

Development Contributions Plans (Section 94, 94A and 64)

Planning Agreements Policy 2006

Wagga Wagga Local Environmental Plan 2010

Wagga Wagga Development Control Plan 2010

Wagga Wagga Spatial Plan 2013-2043

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We plan long term

 

No specific issues identified.

The City Strategy Division has undertaken workshops with Councillors, Industry and State Government Agencies whereby positive feedback has been received.

 

  

 

 

 

RP-4                             Slalom Water Skiing Proposal for Lake Albert

Author:                        Ben Creighton

Sector Manager:       Natalie Te Pohe

         

Analysis:

The City of Wagga Wagga has received a request from Wagga Wagga Watersports Inc. for land owner’s approval to lodge a development application for the development of a slalom water skiing course on the western side of Lake Albert (Attachment 1).   This proposal was initially reviewed by NSW Roads and Maritime Services before being referred to Council to determine the development approval process. City planning officers have since undertaken a review (inclusive of seeking legal advice) which has determined that the proposed facility will require development consent.   During discussions on this matter it was noted by Wagga Watersports officials that:   “The ideal scenario would be to have it set up semi-permanent for extended periods outside of the peak summer holiday period. If that is deemed not suitable then to leave the sunken course in place on the lake bed (does not obtrude off the lake floor) with necessary signage alerting users of the 'structure' location.   We are a club that will be maintaining the area and would be holding events such as the Malibu series that will attract national and even world level competitors and spectators.   Being the City of Good Sports, I am sure we can come up with a solution to develop another fantastic sporting facility, for the city to show off and lure even more tourism to the town.”

 

 

Recommendation That Council: a       refuse the request to provide land owners approval for the construction of a permanent or sunken slalom water skiing course on Lake Albert b       authorise land owners consent if Wagga Wagga Watersports Inc choose to lodge a development application for the temporary event usage of Lake Albert for a slalom water skiing course

 

Lake Albert is a popular community recreational asset where community access should be retained as much as possible.

 

If a permanent course is constructed it will be used exclusively by members of the Wagga Watersports Club and event competitors. This would be enforced by an exclusion zone identified by marker buoys to limit public access. 

A sunken course has the potential to impact on other recreation activities such as fishing where lines and lures could easily become entangled on sunken cables.

 

Other organisations that hold events at Lake Albert use temporary courses that can be setup and pulled down at the end of an event. Slalom courses can also be managed in this manner however it is acknowledged that this creates significant additional work for officials and volunteers.

 

The ownership of the land under the proposed course location is split between the Wagga Wagga Country Club and Crown Land where Council is the trustee. In order for a development application to be lodged, land owners approval would be required from all parties.

 

Staff support the temporary closure and use of Lake Albert for Slalom skiing events in accordance with the process used by other user groups.

 

N/A

Lake Albert Management Plan

Recreation and Open Space Strategy

 

Safe and Healthy Community

Objective: We promote a healthy lifestyle

Outcome: We promote participation across a variety of sports and recreation

 

No specific issues identified.

Internal consultation has been held with the City Strategy and City Development teams.

 

External consultation has been held with the Wagga Wagga Watersports Inc., Maritime Services and the Water for Lake Albert community group which is made up of stakeholders and residents.

 

 

1⇩.

Proposed Slalom Course Location

  

 

 

RP-5                             Community Engagement Relating to the Proposed BMX Pump Track at Emblen Park

Author:                        Ben Creighton

Sector Manager:       Natalie Te Pohe

          

Analysis:

Council received a petition in response to a proposed Pump/BMX Bike Track planned for Emblen Park in Tolland. At the December 2016 Ordinary Meeting of Council it was resolved that Council receive a report on the matter following further community engagement.

 

 

Recommendation That Council: a       note the outcomes of the further consultation and community engagement b       approve the construction of a BMX pump track at Emblen Park in Tolland in a revised position

 

During mid-2016 City of Wagga Wagga staff (staff) submitted a grant application to build a BMX pump track at Emblen Park (Attachment 1). This facility was proposed following an inspection of an existing facility between Huthwaite and Maher Streets which found the facility to be in poor condition and in need of upgrade or replacement (Attachment 2). It was determined that Emblen Park was a better location for this facility when considering “Safer by Design” principles and site accessibility. 

 

Staff were advised of the successful grant application during September 2016 with the budget variation approved at the October 2016 Ordinary Meeting of Council.

 

During November 2016, 300 flyers were delivered to the local residents informing them of the proposed plans and inviting them to provide feedback. Feedback was received via 11 phone calls and emails of which eight were negative, two were positive and one was neutral. In addition, a petition was received comprising of 57 signatures opposed to the plan which was presented to the Council at the December 2016 Ordinary Meeting.

 

A joint community consultation session with Housing NSW was held in March 2017 to allow residents to ask questions and provide further feedback on the project. This was promoted via a mail out to residents (720 letters sent), the City of Wagga Wagga’s social media and via Council News. A number of written responses were received at this session with mixed views on the merit of the project (Attachment 3). The City has subsequently received submissions from a number of stakeholders and service delivery organisations that operate within this area (Attachment 4-6).

 

Discussion points raised during the consultation against the proposal were:

 

·      Increased traffic, noise and rubbish generated by users

·      Possible increase in crime and anti-social behaviour in the area

·      A lack of supervision of children using the track

·      A preference to upgrade the existing track between Huthwaite and Maher Streets

·      Possible effect on property values

·      A preference for Emblen Park to be kept as a quiet park (walking with irrigation)

 

Discussion points raised during the consultation for the development were:

 

·      The proposed track was a great way to engage the young people

·      The visibility of the track means kids are safer than at the existing track

·      The facility would provide added incentive for kids to play outside

·      The facility would be a good activity to keep kids out of trouble

 

In exploring the concerns further with the residents it has been identified that most concerns relate to broader social issues and the perception this project will increase their impact on the surrounding areas.

 

Based on advice from the Local Area Command, the City will incorporate a cable fence around the perimeter of the track to prevent access from small motorcycles, and investigate the installation of sensor security lighting. However it should be noted that the sensor security lighting is not incorporated within the current budget and staff will explore the option of obtaining additional grant funding.

 

Whilst acknowledging the concerns raised by the residents the benefits the facility can provide the community are significant. To address some of the concerns raised staff propose to make an adjustment to the location of the facility to make it more central within the park. This will move the facility further from houses while still achieving the high visibility from Bruce Street.

 

The benefits of the Emblen Park development are:

 

·      The area is a large open area with clearances from residents and roadways

·      It has good passive surveillance by passing traffic and residents

·      Parents could provide passive surveillance from the playground area

·      It would enhance and improve an underutilised open space

·      This area has high levels of disadvantaged youth

·      It provides the community with a low cost activity for youth

·      It will enhance opportunities for healthy lifestyles and community participation

 

The total project budget, as reported to Council at the 31 October 2016 Council meeting is $81K, with a $50K grant from the State Government Social Housing Community Improvement fund and $31K from within the City’s operating budgets. 

 

If this project does not proceed, staff will attempt to negotiate with the funding body to redirect the funds to alternative projects within the city’s social housing estates. If the negotiations are unsuccessful the funding agreement will have to be terminated. 

N/A

 

Safe and Healthy Community

Objective: We promote a healthy lifestyle

Outcome: Recreation is a part of everyday life

 

The risks associated with implementing this project relate to process, cost, environmental, WHS and contractor performance. These risks are addressed as part of the City of Wagga Wagga’s project management and contractor performance management systems.

Internal consultation has been undertaken with staff from the City’s Operations, Planning, Governance and City Strategy Divisions.

 

External Consultation has been undertaken with:

 

·      Community and Residents

·      Housing NSW

·      NSW Police

·      Australian Red Cross

 

 

1⇩.	Proposed Emblen Park Pump Track Location
2⇩.	Existing Tolland Bike Track Location
3.	Community Consultation Feedback This matter is considered to be confidential under Section 10A(2) of the Local Government Act 1993, as it deals with: personnel matters concerning particular individuals.
4⇩.	Tolland Community Centre - Letter of Support
5⇩.	Police Letter of Support
6⇩.	Clontarf Letter of Support

 

 

 

 

 

 

 

 

RP-6                             Remote Control car track proposal

Author:                        Ben Creighton

Sector Manager:       Natalie Te Pohe

         

Analysis:

Wagga Wagga Remote Control Car Club Inc. has approached staff with a proposal to license land for the construction of a remote control race track and associated facilities at Rawlings Park on Angel Street (Attachment One).

 

 

Recommendation That Council: a       endorse Wagga Wagga Remote Control Cars Inc. to use part of Lots 8 & 9 Section F DP7231 in Angel Street, Lake Albert for the development of a remote control car race track b       enter into a licence agreement with Wagga Wagga Remote Control Cars Inc. upon the following terms: i         Property – part Lots 8 & 9 Section F DP7231 in Angel Street, Lake Albert ii        Term – five (5) years on a commencement date to be agreed iii       Rental – in accordance with Council’s minimum community rent as set out Council’s Revenue and Pricing Policy c        note that some elements of the proposal may be subject to development consent d       delegate authority to the General Manager or their delegate to execute all necessary documents on behalf of Council

 

Wagga Wagga Remote Control Cars Inc. formed in late 2016 with the purpose of conducting, promoting and administering remote control car racing in the local area (Attachment Two). 

 

The proposed site in Angel Street has a RE1 zoning which is an appropriate zone for this activity. A site inspection by staff has also determined that this site is suitable (Attachment Three).

 

The request from Wagga Wagga Remote Control Cars Inc is for use of the land.  There has been no request for a Council funding contribution as the club has access to funding which will allow for the facilities construction.

 

If this facility is developed there will be opportunities for the club to attract events to the city with up to 200 competitors.

 

This proposal will provide an additional recreational activity that is not currently catered for within the city.

 

Staff will continue to liaise with representatives of the club to ensure that all the required development approvals are obtained and that the development will not detract from surrounding facilities.

N/A

Recreation and Open Space Strategy 2005-2015

 

Safe and Healthy Community

Objective: We promote a healthy lifestyle

Outcome: We promote participation across a variety of sports and recreation

 

The risks associated with implementing this project relate to process, cost, environmental and Work Health and Safety. These risks are addressed as part of the City of Wagga Wagga’s project management and contractor performance management systems.

Internal Consultation has been undertaken with staff from Council’s Operations, Property and City Strategy Divisions.

 

 

1⇩.	WWRCC Rawlings Park Proposal
2⇩.	WWRCC Statement of Purpose
3⇩.	WWRCC Proposed Licence Area

 

 

 

 

 

 

 

RP-7                             Integrated Planning and Reporting - draft suite of documents

Author:                        Tristan Kell

Sector Manager:       Natalie Te Pohe

         

Analysis:

This report addresses the City of Wagga Wagga’s obligations in ensuring legislative compliance and meeting the requirements of the Office of Local Government in adopting and implementing the Integrated Planning and Reporting Framework.

 

 

Recommendation That Council: a       place the following documents on public exhibition for 28 days commencing 27 April 2017 and concluding on 24 May 2017: i         draft Workforce Plan 2017/21 ii        draft Asset Management Plans: Buildings, Recreational Assets, Sewer, Stormwater and Transport Infrastructure Networks 2017/18 iii       draft combined Delivery Program and Operational 2017/18 iv       draft Fees and Charges for the financial year 2017/18 v        draft Long Term Financial Plan 2017/27 b       receive submissions from the community in relation to these documents throughout the exhibition period c        consider a further report addressing the submissions received at the Council meeting on 26 June 2017

 

Council’s suite of draft Integrated Planning and Reporting documents have been formulated with consideration to the Community Strategic Plan 2040 – Wagga View previously endorsed by Council as well as the draft Disability Inclusion Action Plan 2017/21. The integration of these documents has also been considered.

 

These documents together form a suite of plans focussed on Council’s sustainability into the future.

 

 

During the exhibition period the City will invite submissions from the community through the following engagement methods which will inform the final version of these plans to be presented to Council for adoption in June 2016:

 

·    Public Notices

·    Consultation via “Your Say”

·    Media Release

·    Social Media – Facebook and Twitter

·    Public display at the Civic Centre

 

Workforce Plan

 

The Workforce Plan maximises the capacity of the City’s workforce resources to meet the outcomes of the Community Strategic Plan 2040: Wagga View. The Workforce Plan focuses on current and future staffing needs to ensure the City has the right people, in the right roles, at the right time to deliver services to our community. Council’s Workforce Plan 2017/21 has been developed to outline strategies and initiatives to attract and retain a capable, efficient and effective workforce with the capacity to deliver on Council’s Delivery Program and Operational Plans.

 

The Workforce Plan consists of:

 

·    Introduction

o What is a workforce plan?

o How is the workforce plan developed?

·    Workforce Snapshot

o Our organisation structure

o What we deliver

o Our people:

§ Total Workforce Summary

§ Permanent Workforce Summary

§ Age

§ Gender

§ Diversity

§ Flexible Work Arrangements

§ Length of service

·    Trends

·    Our achievements

·    Challenges and future direction

·    Action Plan

 

The new workforce plan was written in consideration of the City’s current workforce profile and future resourcing requirements. The process also included reviewing the existing workforce plan, analysing workforce trends and challenges, and further considering Council’s new organisation structure implemented in 2016.

 

Asset Management Plans

 

The City of Wagga Wagga adopted its first asset management plan in 2011. The 2017 review of the plan has resulted in significant change and improvements in the asset management plan documents.

 

The City now has five asset management plans: buildings, recreational assets and sewer, stormwater and transport infrastructure networks. Each plan sets out the level of service the City of Wagga Wagga provides the community in relation to the assets. They use financial information and technical asset data, compared to service levels to identify funding shortfalls in managing these assets.

 

The current budget data is based on the 2017/18 Long Term Financial Plan, and the asset data is from the City’s asset register where available. The asset data from the register includes the extent of the network, asset type, location, the condition rating of each individual asset, their current replacement cost, annual depreciation expense, written down value, and residual value.

 

The plans have been developed by the Strategic Asset Management Officer in partnership with subject matter experts from across the organisation. The project began in July 2016 with a review of the current asset data. Relevant managers were involved in the project development in 2016 and via a review of the draft plans in 2017. The plans were also reviewed by the Sustainable Futures Group during the month of March 2017.

The goal of the asset management plans and of managing the assets on behalf of the community is to meet the defined levels of service in a cost effective manner for present and future generations. The key elements of asset management are:

 

·      providing a defined level of service and monitoring performance

·      managing the impact of growth through demand management and infrastructure investment

·      taking a whole of lifecycle approach to developing cost-effective management strategies for the long-term that meet the defined level of service

·      identifying, assessing and appropriately controlling risks

·      having a Long Term Financial Plan which identifies required, affordable expenditure and how it will be financed

 

The following table shows the estimated projected costs to manage each asset category (based on current City of Wagga Wagga unit rates) over the next 10 years compared with the budget available as per the Long Term Financial Plan June 2017 to show the funding level.

 

The projected required budget includes the renewal, new and maintenance costs where available for each asset category. These are known as the first and second funding scenario. The first scenario (the projected required budget) is what we would like to do based on the asset register data. The second scenario (the current budget) is based on the Long Term Financial Plan (the existing budget). The plans include the level of service and risk consequences of this budget.

 

High Level Asset Category	Project Required Budget to manage assets for 10 years	Current Budget for 10 years	Funding Level
Buildings	$38,413,023	$27,635,397	72%
Recreational Assets (renewal only)	$13,618,069	$5,113,290	38%
Sewer	$134,179,904	$133,151,748	99%
Stormwater*	$44,627,589	$39,247,276	88%
Transport	$298,230,715	$185,819,632	62%

 

*Please note the stormwater figures do not include pipe renewal expected to be identified in the condition assessment.

 

The asset management plans will be reviewed annually to produce a rolling 10 year plan. They will undergo a full revision every 4 years in line with the Council election.

 

The effectiveness of the asset management plan will be measured in the following ways:

 

1.     the gap between actual and targeted levels of service at any point in time

2.     the degree of synchronisation between the asset management plan and the Long Term Financial Plan

3.     the degree of integration between the asset management plan and the Delivery Program/Operational Plan

4.     the level of execution of the identified actions in the plan, and

5.     the degree the assessed level of risk to the City in each asset category reduces over time.

Therefore, following endorsement the next important step is for the City of Wagga Wagga to develop a third funding scenario, which provides a financially sustainable solution to the maintenance and renewal shortfalls for the assets which is budgeted for in the Long Term Financial Plan. This solution may see a change in target service levels included in the asset management plans. The community and Council will be invited to play an important role in the development of this option.

 

Combined Delivery Program and Operational Plan

 

The creation of the 2017/18 Combined Delivery Program and Operational Plan incorporates a new Delivery Program derived directly from the Community Strategic Plan 2040 – Wagga View and a complete review of the Operational Plan with the inclusion of relevant projects and activities for the coming 12 months.

 

The 2017/18 Combined Delivery Program and Operational Plan consist of:

 

·    Mayor and GM Welcome

·    Clear links to ‘Wagga View” the Community Strategic Plan 2040

·    Clear links to the draft Disability Inclusion Action Plan 2017/21

·    New Delivery Program and Operational Plan activities (including detailed operational descriptions and measures)

·    Delivery Program four year budget

·    Delivery Program Capital Works (New Projects and Recurrent)

·    Contributions and Donations

 

Some key improvements to this year’s documents include the addition of the detailed activity descriptions and the increased number of operational items captured. A key focus of the business planning process was to capture a more comprehensive list of the services and projects we deliver as an organisation.

 

The combined Delivery Program and Operational Plan will be reviewed annually to produce a rolling 4 year plan. The Delivery Program will receive a full revision every 4 years in line with the Council election.

 

Fees and Charges

 

In accordance with Section 608 of the Local Government Act 1993, a council may charge and recover an approved fee for any service it provides.

 

The services for which an approved fee may be charged include the following provided under the Local Government Act or any other Act or the regulations by the council:

 

·    supplying a service, product or commodity

·    giving information

·    providing a service in connection with the exercise of the council’s regulatory functions-including receiving an application for approval, granting an approval, making an inspection and issuing a certificate

·    allowing admission to any building or enclosure.

 

Long Term Financial Plan

 

The Long Term Financial Plan is an essential element of the resourcing strategy which details how the strategic aspirations of the City which are outlined in the Community Strategic Plan can be achieved in terms of time, money, assets and people.

 

Council’s Long Term Financial Plan is a ten-year financial planning document with an emphasis on long-term financial sustainability. Financial sustainability is one of the key issues facing local government due to several contributing factors including growing demands for community services and facilities, constrained revenue growth and ageing infrastructure.

 

The Long Term Financial Plan is formulated by using a number of estimates and assumptions to project the future revenue and expenditure required of the City to deliver those services and projects expected by the community. In doing so it addresses the resources that impact on the City’s ability to fund its services and capital works whilst remaining financially sustainable.

 

The draft 2017/27 Long Term Financial Plan consists of:

 

·    Executive Summary

·    Fit for the Future Summary

·    Special Rate Variation

·    Financial Strategies

·    Planning Assumptions

·    Major Projects

·    Financial Forecast Assumptions

·    Sensitivity Analysis

·    Financial Modelling Scenarios

·    Budgeted Financial Statements:

o Budgeted Income Statement

o Budgeted Balance Sheet Forecasts

o Cash Flow Statement Forecasts

·    Financial Sustainability Indicators

·    External Reserve balances projections

·    Internal Reserve balances projections

·    External Loan Projects and Debt Servicing

·    Total Capital Works Program, including one-off projects and recurrent programs

·    “Concepts” Capital Projects

·    Ten Year Financial Plans for “Council Businesses”:

o Wagga Wagga Regional Airport

o Livestock Marketing Centre

o Sewerage Services

o Solid Waste Services

·    Stormwater Levy Function

·    Budgeted Income Statement by Function

 

The proposed adoption of these plans will form the basis of the City’s 2017/18 budget.

While not Policy specifically, it is worth highlighting that the suite of documents have been created to meet the requirements set in the Integrated Planning and Reporting Guidelines – March 2013.

 

The asset management plans have been formulated with consideration to POL 001 Asset Management Policy.

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We plan long term

 

A number of risk management issues were identified and have been actively managed. A summary of these risks are as follows:

 

-        Lack of engagement from the community

-        Inability to meet everyone’s expectations

-        Inability to resource and deliver on plans

 

There are no implications for Work Health and Safety associated with this report.

Comprehensive internal consultation has taken place in the review and development of these plans including: business planning sessions across the organisation, internal review opportunities and three (3) workshops with Councillors.

 

 

1⇩.	Draft Recreational  Asset Management Plan 2017/18 - Provided under separate cover
2⇩.	Draft Transport Infrastructure Asset Management Plan 2017/18 - Provided under separate cover
3⇩.	Draft Sewer Asset Managment Plan 2017/18 - Provided under separate cover
4⇩.	Draft Buildings Asset Management Plan 2017/18 - Provided under separate cover
5⇩.	Draft Stormwater Asset Management Plan 2017/18 - Provided under separate cover
6⇩.	Draft Combined Delivery Program and Operational Plan 2017/18 - Provided under separate cover
7⇩.	Draft Workforce Plan 2017/21 - Provided under separate cover
8⇩.	Draft 2017/18 Long Term Financial Plan Document - Provided under separate cover
9⇩.	Draft 2017/18 Fees & Charges - Provided under separate cover

 

 

 

RP-8                             Financial Performance Report and Quarterly Budget Review as at 31 March 2017

Author:                        Carolyn Rodney

Sector Manager:       Natalie Te Pohe

         

Analysis:

This report is for Council to consider and approve the proposed 2016/17 budget variations required to manage the 2016/17 budget and Long Term Financial Plan, and details Council’s external investments and performance as at 31 March 2017.

 

 

Recommendation That Council: a       approve the proposed 2016/17 budget variations for the month ended 31 March 2017 and note the balanced budget as presented in this report b       note the Responsible Accounting Officer’s reports, in accordance with the Local Government (General) Regulation 2005 (Part 9 Division 3: Clause 203) that the financial position of Council is satisfactory having regard to the original estimates of income and expenditure and the recommendations made above c        note details of the external investments as at 31 March 2017 in accordance with section 625 of the Local Government Act 1993

 

The City of Wagga Wagga forecasts an overall balanced budget for the month ended March 2017, which is an improvement on the reported February 2017 deficit of ($14K).

 

The City has experienced a positive monthly investment performance for the month of March that is mainly attributable to the continued strong growth period for the City’s Floating Rate Note (FRN) portfolio, with many of these investments trading at a premium.

 

Due to the continued higher than anticipated balance of the investment portfolio (mainly due to the timing of major projects), City of Wagga Wagga officers have reviewed the budget for interest on investments and revised upwards by $700,000. This figure is reflective of the anticipated amounts to be received for the remainder of the 2016/17 financial year.

 

Financial Implications

 

Key Performance Indicators

 

 

OPERATING INCOME

Total operating income is 74% of approved budget that is tracking to budget for the end of March (this percentage excludes capital grants and contributions). An adjustment has been made to reflect the levy of rates that occurred at the start of the financial year. Excluding this adjustment, operating income received is 88%.

 

OPERATING EXPENSES

Total operating expenditure is 73% of approved budget and is tracking to budget for the full financial year.

 

CAPITAL INCOME

Total capital income is 22% of approved budget. It should be noted that the actual income from capital is influenced by the timing of the receipt of capital grants and contributions relating to projects.

 

CAPITAL EXPENDITURE

Total capital expenditure including commitments is 51% of approved budget. The RIFL Stage 1 contract commitment has been raised for $19M. Excluding this amount the total capital expenditure is 32% of approved budget.

 

CITY OF WAGGA WAGGA STATEMENT OF FINANCIAL PERFORMANCE 1 JULY 2016 TO 31 MARCH 2017
CONSOLIDATED STATEMENT
	ORIGINAL BUDGET 2016/17 $'000	BUDGET ADJ 2016/17 $'000	APPROVED BUDGET 2016/17 $'000	YTD ACTUAL   EXCL COMMT'S 2016/17	COMMT'S 2016/17 $'000	YTD ACTUAL + COMMT'S 2016/17 $'000	YTD % OF BUD
Revenue
Rates & Annual Charges	(60,642,286)	0	(60,642,286)	(45,669,895)	0	(45,669,895)	75%
User Charges & Fees	(23,631,263)	57,916	(23,573,347)	(16,555,088)	0	(16,555,088)	70%
Interest & Investment Revenue	(3,406,597)	0	(3,406,597)	(3,320,631)	0	(3,320,631)	97%
Other Revenues	(3,123,096)	(72,284)	(3,195,380)	(2,317,494)	0	(2,317,494)	73%
Operating Grants & Contributions	(14,779,516)	(1,397,582)	(16,177,098)	(11,973,826)	0	(11,973,826)	74%
Capital Grants & Contributions	(34,768,294)	(20,776,047)	(55,544,341)	(14,617,010)	0	(14,617,010)	26%
Total Revenue	(140,351,052)	(22,187,997)	(162,539,049)	(94,453,944)	0	(94,453,942)	58%
Expenses
Employee Benefits & On-Costs	42,105,886	92,088	42,197,974	29,628,557	12,676	29,641,233	70%
Borrowing Costs	3,953,083	(157,682)	3,795,402	2,753,527	0	2,753,527	73%
Materials & Contracts	2,722,383	(5,293)	2,717,090	8,433,871	1,112,042	9,545,913	351%
Depreciation & Amortisation	32,405,375	0	32,405,375	24,304,031	0	24,304,031	75%
Other Expenses	37,493,005	3,492,536	40,985,542	20,774,033	2,203,119	22,977,152	56%
Total Expenses	118,679,732	3,421,650	122,101,382	85,894,018	3,327,838	89,221,856	73%
Net Operating (Profit)/Loss	(21,671,319)	(18,766,347)	(40,437,667)	(8,559,926)	3,327,838	(5,232,087)
Net Operating (Profit)/Loss before Capital Grants & Contributions	13,096,975	2,009,700	15,106,674	6,057,084	3,327,838	9,384,923
Cap/Reserve Movements
Capital Exp - Renewals	24,265,446	9,073,416	33,338,862	9,419,595	5,188,873	14,608,468	44%
Capital Exp - New Projects	45,730,456	10,385,256	56,115,712	10,665,876	23,681,026	34,346,902	61%
Capital Exp - Project Concepts	8,264,763	27,020	8,291,783	1,970	0	1,970	0%
Loan Repayments	2,603,821	(173,623)	2,430,198	1,822,647	0	1,822,647	75%
New Loan Borrowings	(13,859,917)	7,992,810	(5,867,108)	0	0	0	0%
Sale of Assets	(4,982,151)	2,968,619	(2,013,532)	(2,711,729)	0	(2,711,729)	135%
Net Movements Reserves	(7,945,724)	(11,493,504)	(19,439,228)	0	0	0	0%
Total Cap/Res Movements	54,076,694	18,779,992	72,856,686	19,198,359	28,869,899	48,068,259	66%
Net Result after Depreciation	32,405,375	13,645	32,419,020	10,638,433	32,197,737	42,836,172
Add back Depreciation Expense	32,405,375	0	32,405,375	24,304,031	0	24,304,031
Cash Budget (Surplus)/Deficit	(0)	13,645	13,645	(13,665,598)	32,197,737	18,532,141

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revised Budget Result - Surplus/(Deficit)	$’000s
Original 2016/17 Budget Result as adopted by Council Total Budget Variations approved as reported to 27 March 2017 Council Meeting Budget variations for March 2017	$0 ($14K)   $14K
Proposed revised budget result for 31 March 2017	Nil

 

 

The proposed Budget Variations to 31 March 2017 are listed below:

 

Current Restrictions

 

CITY OF WAGGA WAGGA
RESERVES SUMMARY
31 MARCH 2017
	Approved Changes
	CLOSING BALANCE 2015/16	ADOPTED RESERVE TRANSFERS 2016/17	BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 27.03.2017	RECOMM CHANGES for Council Resolution	REVISED BALANCE
Externally Restricted
Developer Contributions	(19,387,519)	1,683,496	2,804,552	(1,774,252)	(16,673,722)
Sewer Fund Reserves	(21,286,523)	2,385,453	3,526,563	55,278	(15,319,229)
Solid Waste Reserves	(12,803,085)	751,764	271,273	95,663	(11,684,386)
Specific Purpose Unexpended Grants/Cont	(3,473,810)	0	3,473,810		0
Stormwater Levy Reserves	(2,537,418)	(228,466)	164,020		(2,601,864)
Total Externally Restricted	(59,488,355)	4,592,247	10,240,218	(1,623,311)	(46,279,200)
Internally Restricted
Airport Reserve	(202,674)	(65,492)	(31,851)		(300,017)
Art Gallery Reserve	(48,490)	(3,500)	17,500		(34,490)
Ashmont Community Facility Reserve	(3,000)	(1,500)	0		(4,500)
Bridge Replacement Reserve	(646,667)	140,000	420,000		(86,667)
CBD Carparking Facilities Reserve	(936,300)	(94,195)	60,537	204,612	(765,346)
CCTV Reserve	(54,476)	(10,000)	0		(64,476)
Cemetery Perpetual Reserve	(123,860)	(89,661)	200,000		(13,521)
Cemetery Reserve	(308,649)	(136,637)	271,552		(173,734)
Civic Theatre Operating Reserve	0	(100,000)	0		(100,000)
Civic Theatre Technical Infrastructure Reserve	(55,450)	(50,000)	0		(105,450)
Civil Projects Reserve	(155,883)	0	0		(155,883)
Community Amenities Reserve	(5,685)	0	0		(5,685)
Council Election Reserve	(417,616)	236,558	0	25,000	(156,058)
Economic Development Incentives Reserve	(19,500)	0	0		(19,500)
Emergency Events Reserve	0	0	0	(133,829)	(133,829)
Employee Leave Entitlements Gen Fund Reserve	(3,352,639)	0	0		(3,352,639)
Estella Community Centre Reserve	(230,992)	0	0		(230,992)
Family Day Care Reserve	(135,608)	14,606	0		(121,002)
Fit for the Future Reserve	(952,184)	388,225	(1,945,335)	100,000	(2,409,294)
Generic Projects Saving	(927,180)	(116,966)	103,039		(941,106)
Glenfield Community Centre Reserve	(15,704)	(2,000)	0		(17,704)
Grassroots Cricket Reserve	(45,942)	(15,000)	0		(60,942)
Gravel Pit Restoration Reserve	(738,010)	0	0		(738,010)
Gurwood Street Property Reserve	(50,454)	0	0		(50,454)
Industrial Land Development Reserve	(328,851)	0	0		(328,851)
Information Services / E-Business Reserve	(378,713)	0	0		(378,713)
Infrastructure Replacement Reserve	(77,488)	(887)	28,233	(69,325)	(119,467)
Insurance Variations Reserve	(28,644)	0	0		(28,644)
Internal Loans Reserve	(1,289,806)	(629,241)	444,842		(1,474,205)
Lake Albert Improvements Reserve	(113,972)	0	113,789		(182)
LEP Preparation Reserve	(38,665)	0	36,120		(2,545)
Livestock Marketing Centre Reserve	(8,095,560)	3,215,056	1,305,773		(3,574,732)
Lloyd Environmental Projects Reserve	(101,371)	0	0		(101,371)
Museum Acquisitions Reserve	(39,378)	0	0		(39,378)
Oasis Building Renewal Reserve	(122,000)	(50,000)	121,000		(51,000)
Oasis Plant Reserve	(1,005,347)	(110,000)	0		(1,115,347)
Parks & Recreation Projects	(91,288)	0	86,000		(5,288)
Pedestrian River Crossing (old Riverside) Reserve	(198,031)	150,000	0		(48,031)
Plant Replacement Reserve	(5,145,588)	(151,353)	158,636		(5,138,305)
Playground Equipment Replacement Reserve	0	(51,230)	0		(51,230)
Project Carryovers Reserve	(1,841,669)	0	1,841,669		(0)
Public Art Reserve	(199,713)	137,579	51,424		(10,711)
Robertson Oval Redevelopment Reserve	(86,697)	0	0		(86,697)
Senior Citizens Centre Reserve	(11,627)	(2,000)	0		(13,627)
Silverlite Reserve	(29,980)	0	0		(29,980)
Sister Cities Reserve	(30,914)	(10,000)	5,000		(35,914)
Stormwater Drainage Reserve	(473,996)	0	300,318		(173,678)
Strategic Real Property Reserve	(5,136)	0	(314,073)		(319,209)
Street Lighting Replacement Reserve	(44,755)	(30,000)	0		(74,755)
Subdivision Tree Planting Reserve	(195,795)	40,000	0		(155,795)
Sustainable Energy Reserve	(430,442)	(90,000)	0		(520,442)
Traffic Committee Reserve	0	(50,000)	0		(50,000)
Unexpended External Loans Reserve	(163,087)	0	0		(163,087)
Total Internally Restricted	(29,995,474)	2,462,361	3,274,173	126,458	(24,132,482)
Total Restricted	(89,483,829)	7,054,608	13,514,392	(1,496,853)	(70,411,682)

 

 

Contracts Review Statement

 

There are no new contracts that Council has entered into for the quarter 1 January 2017 to 31 March 2017.

 

Consultancy & Legal Expenses Budget Review Statement

 

CITY OF WAGGA WAGGA
CONSULTANCY & LEGAL EXPENSES BUDGET REVIEW STATEMENT
31 MARCH 2017
		Approved Changes
	BUDGET 2016/17	SEPTEMBER QTR BUDGET VARIATIONS APPROVED TO DATE	DECEMBER QTR BUDGET VARIATIONS APPROVED TO DATE	MARCH QTR BUDGET VARIATIONS APPROVED TO DATE	REVISED BUDGET	PROPOSED CHANGES for Council Resolution	PROJECTED YEAR END RESULT	ACTUAL YTD
Consultancy Expenses	616,393	27,243	79,612	116,740	839,988	0	839,988	796,922
Legal Expenses	413,882	12,192	28,304	22,121	476,499	0	476,499	362,568

Investment Summary as at 31 March 2017

 

In accordance with Clause 212 of the Local Government (General) Regulation 2005, details of the City of Wagga Wagga’s external investments are detailed below:

 

Institution	Rating	Closing Balance Invested 28/02/2017 $	Closing Balance Invested 31/03/2017 $	March EOM Current Yield %	March EOM % of Portfolio	Investment Date	Maturity Date	Term (mth)
Short Term Deposits
Police Credit Union	NR	1,000,000	1,000,000	2.87%	0.92%	6/12/2016	6/12/2017	12
BOQ	A-	2,000,000	2,000,000	2.75%	1.83%	2/09/2016	4/04/2017	7
BOQ	A-	2,000,000	2,000,000	2.80%	1.83%	7/12/2016	7/07/2017	12
Bank of Sydney	NR	2,000,000	2,000,000	2.75%	1.83%	30/09/2016	29/09/2017	12
CUA	BBB+	1,000,000	1,000,000	2.80%	0.92%	9/02/2017	5/01/2018	11
NAB	AA-	1,000,000	1,000,000	2.74%	0.92%	25/10/2016	25/05/2017	7
AMP	A+	2,000,000	2,000,000	3.00%	1.83%	2/08/2016	2/08/2017	12
BOQ	A-	1,000,000	1,000,000	2.80%	0.92%	7/11/2016	8/05/2017	6
Bankwest	AA-	2,000,000	2,000,000	2.50%	1.83%	3/02/2017	4/04/2017	2
ME Bank	BBB+	2,000,000	2,000,000	2.80%	1.83%	16/12/2016	16/10/2017	10
Bankwest	AA-	0	3,000,000	2.50%	2.75%	2/03/2017	1/05/2017	2
Beyond Bank	BBB+	0	2,000,000	2.65%	1.83%	2/03/2017	31/05/2017	3
CUA	BBB+	0	1,000,000	2.75%	0.92%	3/03/2017	2/03/2018	12
Total Short Term Deposits		16,000,000	22,000,000	2.73%	20.17%
At Call Accounts
NAB	AA-	2,829,235	1,691,402	1.50%	1.55%	N/A	N/A	N/A
NAB	AA-	14,898,632	7,916,804	2.19%	7.26%	N/A	N/A	N/A
AMP	A+	180,231	180,533	2.15%	0.17%	N/A	N/A	N/A
Beyond Bank	BBB+	74,443	147,837	1.00%	0.14%	N/A	N/A	N/A
CBA	AA-	37,774	37,731	0.00%	0.03%	N/A	N/A	N/A
Total At Call Accounts		18,020,315	9,974,306	2.05%	9.14%
Medium Term Deposits
RaboBank	A+	1,000,000	1,000,000	6.40%	0.92%	23/04/2012	24/04/2017	60
RaboBank	A+	1,000,000	1,000,000	5.90%	0.92%	4/06/2012	5/06/2017	60
BOQ	A-	1,000,000	1,000,000	6.30%	0.92%	22/08/2012	22/08/2017	60
ING Bank	A-	3,000,000	3,000,000	6.00%	2.75%	24/08/2012	24/08/2017	60
Hume Building Society	NR	1,009,123	1,009,123	4.10%	0.93%	21/08/2014	21/08/2017	36
Banana Coast CU	NR	1,000,000	1,000,000	4.25%	0.92%	3/06/2014	2/06/2017	36
ME Bank	BBB+	2,000,000	2,000,000	4.28%	1.83%	2/09/2014	2/09/2019	60
Rabobank	A+	1,000,000	1,000,000	4.10%	0.92%	5/12/2014	5/12/2019	60
Beyond Bank	BBB+	990,000	990,000	3.70%	0.91%	4/03/2015	4/03/2018	36
Beyond Bank	BBB+	990,000	990,000	3.70%	0.91%	11/03/2015	11/03/2018	36
AMP	A+	2,000,000	2,000,000	3.10%	1.83%	2/06/2015	2/06/2017	24
AMP	A+	1,000,000	1,000,000	3.10%	0.92%	13/07/2015	13/07/2017	24
Bendigo-Adelaide	A-	1,000,000	0	0.00%	0.00%	1/09/2015	3/03/2017	18
Newcastle Permanent	BBB+	1,000,000	1,000,000	3.00%	0.92%	12/08/2016	12/08/2019	36
Rabobank	A+	1,000,000	1,000,000	3.20%	0.92%	25/08/2016	25/08/2021	60
Newcastle Permanent	BBB+	1,000,000	1,000,000	3.00%	0.92%	31/08/2016	30/08/2019	36
Police Credit Union	NR	1,000,000	1,000,000	2.90%	0.92%	8/09/2016	10/09/2018	24
Newcastle Permanent	BBB+	2,000,000	2,000,000	3.00%	1.83%	10/02/2017	11/02/2019	24
Westpac	AA-	0	3,000,000	3.10%	2.75%	10/03/2017	10/03/2022	60
Institution	Rating	Closing Balance Invested 28/02/2017 $	Closing Balance Invested 31/03/2017 $	March EOM Current Yield %	March EOM % of Portfolio	Investment Date	Maturity Date	Term (mth)
Total Medium Term Deposits		22,989,123	24,989,123	4.07%	22.91%
Floating Rate Notes - Senior Debt
Macquarie Bank	A	3,002,181	0	0.00%	0.00%	9/03/2012	9/03/2017	60
CUA	BBB+	1,006,540	0	0.00%	0.00%	28/05/2014	20/03/2017	34
Bendigo-Adelaide	A-	1,006,493	1,002,828	BBSW + 93	0.92%	17/09/2014	17/09/2019	60
BOQ	A-	2,013,760	2,008,880	BBSW + 110	1.84%	5/08/2014	24/06/2019	58
BOQ	A-	1,002,655	1,004,395	BBSW + 107	0.92%	6/11/2014	6/11/2019	60
BOQ	A-	1,004,813	1,008,564	BBSW + 107	0.92%	10/11/2014	6/11/2019	60
ME Bank	BBB+	1,000,884	1,003,885	BBSW + 100	0.92%	17/11/2014	17/11/2017	36
ME Bank	BBB+	1,000,464	1,000,934	BBSW + 100	0.92%	17/11/2014	17/11/2017	36
Teachers Mutual	BBB+	999,719	1,003,987	BBSW + 105	0.92%	4/12/2014	4/12/2017	36
Newcastle Permanent	BBB+	1,001,380	1,005,030	BBSW + 110	0.92%	27/02/2015	27/02/2018	36
Macquarie Bank	A	2,007,185	2,014,804	BBSW + 110	1.85%	3/03/2015	3/03/2020	60
ANZ	AA-	754,344	757,020	BBSW + 82	0.69%	17/04/2015	17/04/2020	60
Heritage Bank	BBB+	1,000,680	1,005,290	BBSW + 115	0.92%	7/05/2015	7/05/2018	36
NAB	AA-	1,000,809	1,005,164	BBSW + 80	0.92%	3/06/2015	3/06/2020	60
Heritage Bank	BBB+	1,000,680	1,005,290	BBSW + 115	0.92%	9/06/2015	7/05/2018	35
CBA	AA-	1,009,125	1,012,302	BBSW + 90	0.93%	17/07/2015	17/07/2020	60
Westpac	AA-	1,007,990	1,011,720	BBSW + 90	0.93%	28/07/2015	28/07/2020	60
Bendigo-Adelaide	A-	1,003,950	1,007,820	BBSW + 110	0.92%	18/08/2015	18/08/2020	60
Credit Suisse	A	1,002,670	1,006,880	BBSW + 105	0.92%	24/08/2015	24/08/2018	36
Bendigo-Adelaide	A-	1,004,104	1,007,651	BBSW + 110	0.92%	28/09/2015	18/08/2020	59
Westpac	AA-	2,013,091	2,020,854	BBSW + 90	1.85%	30/09/2015	28/07/2020	58
Suncorp-Metway	A+	1,011,971	1,015,364	BBSW + 125	0.93%	20/10/2015	20/10/2020	60
Westpac	AA-	4,054,160	4,069,000	BBSW + 108	3.73%	28/10/2015	28/10/2020	60
AMP	A+	1,818,558	1,815,714	BBSW + 110	1.66%	11/12/2015	11/06/2019	42
CBA	AA-	1,016,339	1,019,751	BBSW + 115	0.93%	18/01/2016	18/01/2021	60
BOQ	A-	1,004,276	1,007,638	BBSW + 100	0.92%	5/02/2016	5/02/2018	24
Rabobank	A+	2,039,086	2,048,046	BBSW + 150	1.88%	4/03/2016	4/03/2021	60
Newcastle Permanent	BBB+	1,010,498	1,008,410	BBSW + 160	0.92%	22/03/2016	22/03/2019	36
CUA	BBB+	2,017,092	2,016,584	BBSW + 160	1.85%	1/04/2016	1/04/2019	36
ANZ	AA-	1,018,385	1,014,132	BBSW + 118	0.93%	7/04/2016	7/04/2021	60
Suncorp-Metway	A+	1,016,116	1,020,049	BBSW + 138	0.94%	21/04/2016	12/04/2021	60
AMP	A+	1,014,327	1,018,909	BBSW + 135	0.93%	24/05/2016	24/05/2021	60
Westpac	AA-	1,019,820	1,017,470	BBSW + 117	0.93%	3/06/2016	3/06/2021	60
CBA	AA-	1,017,539	1,022,734	BBSW + 121	0.94%	12/07/2016	12/07/2021	60
ANZ	AA-	2,020,213	2,033,156	BBSW + 113	1.86%	16/08/2016	16/08/2021	60
BOQ	A-	1,512,746	1,518,337	BBSW + 117	1.39%	26/10/2016	26/10/2020	48
NAB	AA-	1,008,109	1,013,392	BBSW + 105	0.93%	21/10/2016	21/10/2021	60
Teachers Mutual	BBB+	1,504,143	1,510,323	BBSW + 140	1.38%	28/10/2016	28/10/2019	36
Bendigo-Adelaide	A-	1,002,921	1,007,327	BBSW + 110	0.92%	21/11/2016	21/02/2020	39
Westpac	AA-	1,009,340	1,015,900	BBSW + 111	0.93%	7/02/2017	7/02/2022	60
ANZ	AA-	0	1,007,821	BBSW + 100	0.92%	7/03/2017	7/03/2022	60
CUA	BBB+	0	751,631	BBSW + 130	0.69%	20/03/2017	20/03/2020	36
Total Floating Rate Notes - Senior Debt		52,959,155	50,844,988		46.61%
Institution	Rating	Closing Balance Invested 28/02/2017 $	Closing Balance Invested 31/03/2017 $	March EOM Current Yield %	March EOM % of Portfolio	Investment Date	Maturity Date	Term (mth)
Managed Funds
NSW Tcorp	NR	1,244,899	1,266,489	1.73%	1.16%	17/03/2014	1/03/2022	95
Total Managed Funds		1,244,899	1,266,489	1.73%	1.16%
TOTAL CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		111,213,493	109,074,907	4.83%	100.00%
LESS: RIVERINA REGIONAL LIBRARY (RRL) CASH		3,007,242	2,817,545
TOTAL WWCC CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		108,206,250	106,257,362

 

 

The City’s portfolio is dominated by Floating Rate Notes (FRN’s) at approximately 47% across a broad range of counterparties. Cash equates to 9% of the City’s portfolio with Term Deposits around 43% and growth funds around 1% of the portfolio.

 

 

The City’s investment portfolio is well diversified in complying assets across the entire credit spectrum. It is also well diversified from a rating perspective. Credit quality is diversified and is predominately invested amongst the investment grade ADIs (BBB- or higher), with a smaller allocation to unrated ADIs.

 

 

All investments are well within the defined Policy limits, as outlined in the Rating Allocation chart below:

 

 

 

 

 

 

 

Investment Portfolio Balance

 

The City of Wagga Wagga’s investment portfolio balance has decreased from the previous month’s balance, down from $108.2M to $106.3M. This is reflective of a number of larger contract payments being made during March 2017.

 

 

MONTHLY INVESTMENT MOVEMENTS

 

Redemptions/Sales – The City of Wagga Wagga redeemed the following investment securities during March 2017:

 

Institution and Type	Amount	Investment Term	Interest Rate	Comments
Bendigo-Adelaide Bank Term Deposit	$1M	18 months	2.80%	This term deposit was redeemed on maturity and reinvested into a new term deposit with Credit Union Australia (CUA).
Macquarie Bank Floating Rate Note	$3M	5 years	BBSW + 290	This floating rate note was redeemed on maturity with funds used to purchase a new Term Deposit with Westpac
CUA Floating Rate Note	$1M	3 years	BBSW + 130	This floating rate note was redeemed on maturity with funds used to purchase a new CUA Floating Rate Note.

 

New Investments – The City of Wagga Wagga purchased the following investment securities during March 2017:

 

Institution and Type	Amount	Investment Term	Interest Rate	Comments
Bankwest Term Deposit	$3M	2 months	2.50%	The Bankwest rate of 2.50% compared favourably to the rest of the market for this investment term. This term was chosen to fill a maturity gap within the portfolio.
Beyond Bank Term Deposit	$2M	3 months	2.65%	The Beyond Bank rate of 2.65% compared favourably to the rest of the market for this investment term. This term was chosen to fill a maturity gap within the portfolio.
CUA Term Deposit	$1M	12 months	2.75%	The CUA rate of 2.75% compared favourably to the rest of the market for this investment term. This term was chosen to fill a maturity gap within the portfolio.
Westpac Bank Coupon Select Term Deposit	$3M	2 years Fixed   3 years Floating	3.10%     BBSW + 110	This new Westpac deposit is a 5-year investment, beginning with a 2 year fixed rate period and then a 3 year floating rate period. This investment should outperform the market in the first 2 year fixed rate period and provide protection from potential rising interest rates during the 3 year floating rate period.
ANZ Floating Rate Note	$1M	5 years	BBSW + 100	The City of Wagga Wagga’s independent Financial Advisor CPG, advised that this Floating Rate Note represented a fair offer and is likely to be one of the highest returning investments over the medium term.
CUA Floating Rate Note	$750K	3 years	BBSW + 130	The City of Wagga Wagga’s independent Financial Advisor CPG, advised that this Floating Rate Note represented a fair offer and should be held for the full 3 year period.  The City originally requested a $1M security, however with high demand for this offer, the City was only allocated a $750K parcel.

 

Rollovers – The City of Wagga Wagga did not roll over the any investment securities during March 2017.

 

MONTHLY PERFORMANCE

 

Interest/growth/capital gains for the month totaled $447,115 that compares favourably with the budget for the period of $257,250 – out performing budget for the March month by $189,865. This is mainly attributable to the continued strong growth period for Council’s Floating Rate Note (FRN) portfolio with many of these investments continuing to trade at a premium.

 

It should be noted that the capital market value of these FRN investments will fluctuate from month to month and that the City continues to receive the coupon payments and the face value of the investment security when sold or at maturity.

 

It is also important to note that the City’s investment portfolio balance has consistently been over $105M, which is tracking above what was originally predicted. This is mainly due to timing of some of the major projects that are either not yet commenced or not as advanced as originally predicted. It is anticipated that over the coming months the portfolio balance will reduce with the construction of major projects.

 

Due to the continued high balance of the investment portfolio, City officers have reviewed the budget for interest on investments and revised up by $700,000. This figure is reflective of the anticipated amounts to be received for the remainder of the 2016/17 financial year. The below graph does not include the proposed revised income budget.

 

 

The City of Wagga Wagga’s portfolio performance continues to be anchored by the longer-dated deposits in the portfolio, particularly those locked in above 4% yields. It is to be noted that the average deposit yield will inevitably fall as some of the longer-dated deposits mature throughout the 2017 calendar year.

 

In comparison to the AusBond Bank Bill Index* (+1.94%pa), the City’s investment portfolio in total returned 4.83% for March. Short term deposits returned 2.73%. These funds are utilised for daily cash flow management and need to be available to meet operating and contractual payments as they come due.

 

 

* The AusBond Bank Bill Index is the leading benchmark for the Australian fixed income market. It is interpolated from the RBA Cash rate, 1 month and 3 month Bank Bill Swap rates.

Budget variations are reported in accordance with Council’s POL 052 Budget Policy.

Investments are reported in accordance with Council’s POL 075 Investment Policy.

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We are accountable and transparent

 

No specific issues identified.

All relevant areas within the City of Wagga Wagga have consulted with the Finance Division in regards to the budget variations listed in this report.

 

The Finance Division has consulted with relevant external parties to confirm the City’s investment portfolio balances.