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Agenda and
Business Paper

 


Ordinary Meeting of Council

 

 

 

To be held on
Monday 12 December 2022

at 6.00pm

 

 

 

Civic Centre cnr Baylis and Morrow Streets,
Wagga Wagga NSW 2650 (PO Box 20)
P 1300 292 442
P council@wagga.nsw.gov.au


wagga.nsw.gov.au


NOTICE OF MEETING

 

The proceedings of all Council meetings in open session, including all debate and addresses by the public, are recorded (audio visual) and livestreamed on Council’s website including for the purpose of facilitating community access to meetings and accuracy of the Minutes.

 

In addition to webcasting council meetings, audio recordings of confidential sessions of Ordinary Meetings of Council are also recorded, but do not form part of the webcast.

 

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WAGGA WAGGA CITY COUNCILLORS

 

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STATEMENT OF ETHICAL OBLIGATIONS

Councillors are reminded of their Oath or Affirmation of Office made under Section 233A of the Local Government Act 1993 and their obligation under Council’s Code of Conduct to disclose and appropriately manage Conflicts of Interest.

 

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.

 


Reports submitted to the Ordinary Meeting of Council to be held on Monday 12 December 2022.

Ordinary Meeting of Council AGENDA AND BUSINESS PAPER

Monday 12 December 2022

ORDER OF BUSINESS:

CLAUSE               PRECIS                                                                                                      PAGE

ACKNOWLEDGEMENT OF COUNTRY                                                                                   2

REFLECTION                                                                                                                         2

APOLOGIES                                                                                                                          2

Confirmation of Minutes

CM-1           ORDINARY COUNCIL MEETING - 21 NOVEMBER 2022                                      2

DECLARATIONS OF INTEREST                                                                                            2

Motions Of Which Due Notice Has Been Given

NOM-1         NOTICE OF MOTION - PROPOSED ZERO-BASED BUDGET APPROACH           3

Reports from Staff

RP-1            DA22/0488 - SINGLE DWELLING 2 BULL STREET, CURRAWARNA NSW 2650 LOT 92 DP816412                                                                                                           5

RP-2            Notice of Motion response - Strategic Planning Initiatives          10

RP-3            Proposed Planning Agreement 12 Blake Street, Wagga Wagga              22

RP-4            FINANCIAL PERFORMANCE REPORT AS AT 30 NOVEMBER 2022                   32

RP-5            RESPONSE TO NOTICE OF MOTION - PEDESTRIAN ACCESS AROUND EQUEX CENTRE                                                                                                             66

RP-6            ALCOHOL-FREE ZONE AND PROHIBITED AREAS                                            69

RP-7            DRAFT URBAN COOLING STRATEGY                                                               74

RP-8            LGNSW Water Management Conference                                                80

RP-9            CODE OF CONDUCT STATISTICS                                                                      82

RP-10          RIVERINA JOINT ORGANISATION (RIVJO) MEMBERSHIP                                 87

RP-11          QUESTIONS WITH NOTICE                                                                                89

Confidential Reports

CONF-1       RFT2023-08 LORD BADEN POWELL DRIVE DESIGN & CONSTRUCT                91

CONF-2       RFT2023-09 GWMC PLANT SHED DESIGN AND CONSTRUCT                          92

CONF-3       RFT2023-10 McPHERSON OVAL LIGHTING UPGRADE                                     93

 


 

 

ACKNOWLEDGEMENT OF COUNTRY

Wagga Wagga City Council acknowledges the traditional custodians of the land, the Wiradjuri people, and pays respect to Elders past, present and future and extends our respect to all First Nations Peoples in Wagga Wagga.

We recognise and respect their cultural heritage, beliefs and continuing connection with the land and rivers. We also recognise the resilience, strength and pride of the Wiradjuri and First Nations communities

 

 

RELECTION

Councillors, let us in silence reflect upon our responsibilities to the community which we represent, and to all future generations and faithfully, and impartially, carry out the functions, powers, authorities and discretions vested in us, to the best of our skill and judgement.

 

 

APOLOGIES

 

 

Confirmation of Minutes

CM-1              ORDINARY COUNCIL MEETING - 21 NOVEMBER 2022       

Recommendation

That the Minutes of the proceedings of the Ordinary Council Meeting held on 21 November 2022 be confirmed as a true and accurate record.

 

 

 

Attachments

 

1.

Minutes - 21 November 2022

94

 

 

DECLARATIONS OF INTEREST


Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

NOM-1

 

Motions Of Which Due Notice Has Been Given

NOM-1           NOTICE OF MOTION - PROPOSED ZERO-BASED BUDGET APPROACH

Author:          Councillor Tim Koschel

 

Summary:

The Notice of Motion has been submitted in accordance with the Code of Meeting Practice.

 

 

Recommendation

That Council receive a report on undergoing a zero-based budget that includes but not limited to:

a       costs and timing of the project

b       benefits to council and the community of a zero-based budget

c        funding options/grants to undertake project

 

Report

At the last Council meeting, Council received a report on Wagga roads, which highlighted the shortfall in funding Council have to be able to maintain and repair the road network in the Local Government Area.

 

Some options mentioned in the report to fund the short fall were a potential Special Rate Variation, additional grants, diverting revenue and realistic alternate revenue streams.

 

Before Council go back to the community to look for additional funds, Council need to ensure all our budgets are correct. The best way to do this is to go back to a zero-based budget so as a new group of Councillors we can ensure all funds are being are accounted for.

 

Financial Implications

N/A

Policy and Legislation

Local Government Act 1993

Wagga Wagga City Council Code of Meeting Practice

Wagga Wagga Councils Code of Conduct

Link to Strategic Plan

Community leadership and collaboration

Objective: Wagga Wagga has strong community leadership and a shared vision for the future

Our leaders represent our community

Risk Management Issues for Council

N/A

 

 

 

 


Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-1

 

Reports from Staff

RP-1               DA22/0488 - SINGLE DWELLING 2 BULL STREET, CURRAWARNA NSW 2650 LOT 92 DP816412

Author:                        Paul O’Brien   

General Manager:    Peter Thompson

         

 

Summary:

The report is for a development application and is presented to Council for determination. The application has been referred to Council under Section 1.10 of the Wagga Wagga Development Control Plan 2010 (DCP) as the application received more than 10 submissions.

 

The details of the submissions are contained within the attached Section 4.15 Assessment Report.

 

 

Recommendation

That Council approve DA22/0488 for a dwelling at 2 Bull Street, Currawarna NSW 2650 (Lot 92 DP816412) subject to the conditions outlined in the Section 4.15 Assessment Report.

 

Development Application Details

 

Applicant

Shawn R. White

Owner

Shawn and Christine White

Development Cost

$70,000

Development Description

Dwelling

 

Report

Site Location

The subject site is legally known as Lot 92 DP816412 located at 2 Bull Street, Currawarna. The site is located on the northern side of Bull Street where Old Narrandera Road becomes Bull Street at the entrance of the Village.

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The locality is characterised by low scale single storey dwellings typical of a rural village. The village itself has an open feel and close visual connection to the surrounding rural landscape. The landform slopes gently from the north towards the river on the southern fringe of the village.

 

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Assessment

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·     The proposed development seeks consent for a dwelling. The dwelling will consist of 4 bedrooms, bathroom, ensuite, lounge and dining area, and kitchen (as shown on the floor plan above). The works will also include a verandah attached to both the northern and southern elevations and removal of one tree to accommodate the development.

·     The site is zoned RU5 Village under the provisions of the WWLEP2010 dwellings are permitted with consent in the zone.

·     The development generally complies with the provisions of both the WWLEP2010 and the WWDCP2010.

·     Eleven submissions were received during the notification period. The submissions raised concerns in regard to amenity, compliance with the Building Code of Australia, streetscape, breaches for approved activities and impact on property values. The submissions are addressed in detail in the attached s4.15 report.

 

Having regard for the information contained in the attached Section 4.15 assessment report, it is considered that the development is acceptable for the following reasons and recommended for approval.

 

Reasons for Approval

1.      The proposed development is consistent with the provisions of the Wagga Wagga Local Environmental Plan 2010;

2.      The applicable objectives of Sections 2, 4 and 6 of the DCP are satisfied by the proposed development; and

3.      For the abovementioned reasons it is considered to be in the public interest to approve this development application.

Financial Implications

N/A

Policy

Wagga Wagga Local Environmental Plan 2010

Wagga Wagga Development Control Plan 2010


 

Link to Strategic Plan

The Environment

Objective: Future growth and development of Wagga Wagga is planned for in a sustainable manner

Provide for a diversity of housing that meets our needs

Risk Management Issues for Council

Approval of the application is not considered to raise risk management issues for Council as the proposed development is generally consistent with LEP and DCP controls.

Internal / External Consultation

Full details of the consultation that was carried out as part of the development application assessment is contained in the attached s4.15 Report.

 

 

Mail

Media

Community Engagement

Digital

Rates notices insert

Direct mail

Letterbox drop

Council news story

Council News advert

Media releases

TV/radio advertising

One-on-one meetings

Your Say website

Community meetings

Stakeholder workshops

Drop-in sessions

Surveys and feedback forms

Social media

Email newsletters

Website

Digital advertising

TIER

Consult

 

x

 

 

 

 

 

 

 

 

 

x

 

Involve

 

 

 

 

 

 

 

 

Collaborate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attachments

 

1.

DA22/0488 - Statement of Environmental Effects - Provided under separate cover

 

2.

DA22/0488 - 4.15 Report - Provided under separate cover

 

3.

DA22/0488 - Plans - Provided under separate cover

 

4.

DA22/0488 - Submissions (redacted) - Provided under separate cover

 

 

 


Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-2

 

RP-2               Notice of Motion response - Strategic Planning Initiatives

Author:         Crystal Atkinson 

Executive:    John Sidgwick

         

 

Summary:

The purpose of this report is to respond to the Notice of Motion report tabled at the 5 September 2022 ordinary Council meeting.

 

The report identifies the Strategic Planning initiatives and priorities and provides proposed timeframes and resourcing options.

 

 

Recommendation

That Council:

a       note the information provided in the report

b       support the desired outcomes identified and the proposed priority projects

c        receive a further report on the items listed in this report as currently unfunded as part of the 2023/24 budget process

d       approve the budget variation as noted in the financial implications section of this report

 

Planning Framework

The Planning Framework is set out in the Wagga Wagga Local Strategic Planning Statement – Wagga 2040 (LSPS) as the following:

 

Timeline

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Figure 1: Planning Framework, Wagga Wagga Local Strategic Planning Statement

 

Plans and strategies captured under ‘other strategic plans’ in Figure 1 is extensive and whilst undertaken by various sections of Council, they provide the overlap necessary to ensure we are planning holistically and have actions that directly impact Strategic Planning and amendments to the Wagga Wagga Local Environmental Plan 2010 (LEP) and Wagga Wagga Development Control Plan 2010 (DCP).

 

The LEP and DCP sit below the strategic plans and set the rules for development. They are the mechanism for implementing planning related outcomes and principles identified in the various plans and strategies through the development application process.

Current Plans and Strategies

Across both Council and State Government, there are multiple adopted plans and strategies, providing vision, priority, and actions to be undertaken.

 

Some of these directly relate to land use planning with outcomes to be implemented through further strategies and amendments to the LEP and DCP.

 

The list of documents specifically relating to land use planning include:

 

State Level

·      Transport for NSW – Wagga Wagga Transport Plan 2041

·      Current 2036 and Draft 2041 Riverina Murray Regional Plan

·      Riverina Murray Destination Plan and Management Plan 2018

·      Eastern Riverina Regional Economic Development Strategy 2018

·      Wagga Wagga Special Activation Precinct Master Plan 2021

 

Local Level

·      Local Strategic Planning Statement – Wagga 2040

·      Wagga Wagga Integrated Transport Strategy and Implementation Plan 2040

·      Cultural Plan 2020-2030

·      Biodiversity Strategy: Maldhangilanha 2020-2030

·      Wagga Wagga Retail Growth Strategy 2010-2025

·      Event Strategy and Action Plan 2020-2024

·      Wagga Wagga Public Art Plan 2022-2026

·      Urban Cooling Strategy 2022-2052

·      Riverside Master Plan 2010

·      Recreation, Open Space & Community Strategy 2040

·      Public Art Plan 2022-2023

·      Airport Master Plan 2010

 

LEP / DCP Review

The LSPS sets the planning framework for reviews of the LEP and DCP. The review of the LEP and DCP will be done in a staged approach based on the actions and timeframes identified in the LSPS and shown in Figure 2.

 

Despite these reviews, the LEP will remain as Wagga Wagga Local Environmental Plan 2010 as the NSW Department of Planning and Environment Guideline indicates that new Standard Instrument LEP’s (with a new year attached) will only be supported following amalgamation of or splitting of Councils.


 

Planning Initiatives / Actions

From the initiatives and actions identified in these plans, actions can be categorised as one or more of the following:

 

§  Further study / plan

-    CBD Master Plan

-    Housing Strategy

-    Rural Lands Strategy (including village planning)

-    Northern Growth Area

-    Economic Strategy

-    Industrial / Employment Land Strategy

§  LEP Amendment

-    Policy changes

-    Administrative changes

§  DCP Amendment

-    Policy changes

-    Administrative changes

§  Operational

-    Meeting obligations under Environmental Planning and Assessment Act 1979 and embedding the LSPS principles through planning processes.

§  Completed

-    Bomen Master Plan and Delivery Plan adopted (LSPS Action ECON1)

-    Collingullie village Structure Plan and DCP provision (LSPS Action COM1)

-    Draft Urban Canopy Strategy prepared and on exhibition (LSPS Action COM13)

-    Co-location of Estella School and sporting precinct underway (LSPS Action COM15)

-    Draft Northern Growth Area concept plan (LSPS Action COM2)

-    Active Travel Plan progressing (LSPS Action ECON4 and ENV9)

 

This work will inform reviews of relevant sections of the LEP and DCP.

 

The Figure 2 provides an indicative timeline for the Strategic Planning initiatives in line with the LSPS, noting that these actions will also address some actions identified in other state / local plans and strategies.It is noteworthy that major strategic work is also subject to external influences, such as community engagement, councillor inputs and the timings of consultant documentation, all of which can push out delivery timelines.

 

Timeline

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Figure 2: Strategic Planning Initiatives, based on LSPS

 

Noted issues / challenges

The previous comprehensive LEP & DCP review was undertaken between 2007 and 2010, underpinned by a comprehensive Local Environmental Study 2008 prepared by Willana Associates. The fundamental need for this, resulted from the implementation of a NSW wide LEP template that all Councils were required to transition to. By transitioning to the new state-wide template, Council merged two existing LEPs dated 1985 and 1991 which were the LEPs applying at the time of amalgamation of City of Wagga Wagga with adjoining Kyeamba and Mitchell Shires.

 

 

Legislative requirements

 

Council has legislative requirements to assess and determine applications to amend the LEP and DCP. Since the adoption of the LEP and DCP in 2010, there have been 52 amendments to the LEP and 25 amendments to the DCP. Attachments 1 and 2 show the amendments made since 2010.

 

The amendments have been a mix of policy changes and administrative changes reflecting current needs, demands, pressures and state level policy changes.

 

With the number of plans and strategies in place currently, as well as priority strategies to be undertaken, the staged approach to a review of the LEP and DCP will ensure priority strategic work and review is undertaken without delay.

 

Current Applications

 

In considering resource capacity (staff), the operational assessment of planning proposals needs to be taken into consideration when looking at the strategic planning initiatives and work programme.

 

Scoping Proposals:

 

Scoping proposals are part of the pre-lodgement process prior to any proposal progressing to a planning proposal.

 

Current scoping proposal applications include:

 

1.    2650 Old Narrandera Road, Currawarna – Expand village zoning and reduce minimum lot size

2.    336 Inglewood Road – Change to minimum lot size

3.    361-363 Edward Street – Change to land zoning

4.    Bowen Place, Tolland – Change to land zoning and classification

5.    509 Kooringal Road – Change to minimum lot size

6.    Springvale – Change to minimum lot size

7.    Laurell Road – Change to minimum lot size

8.    Home Hotel, Fitzmaurice Street – Change to height and floor space ratio

9.    Dunns Road – Change to minimum lot size and zone

10.  Harness Racing Track – Change to land zoning

11.  Inglewood Road – Change to minimum lot size

 

Planning Proposals:

 

Planning proposals are the formal process for proposing an amendment to the Wagga Wagga Local Environmental Plan 2010.

 

Current planning proposal applications include:

 

1.    LEP18/0003 – 6911 Holbrook Road – Change to minimum lot size

2.    LEP21/0001 – 474 Plumpton Road – Change to land zoning, minimum lot size and urban release

3.    LEP21/0002 – Lloyd – Change to land zoning and minimum lot size

4.    LEP21/0003 – South Campus – Change to land zoning

5.    LEP21/0004 – Currawarna – Change to minimum lot size

6.    LEP22/0001 – 7066 Holbrook Road – Change to land zoning, minimum lot size and urban release

7.    LEP22/0002 – Forest Hill – Change to land zoning and minimum lot size

 

Resourcing

 

A critical consideration of the initiatives identified in Figure 2, particularly for 2023 / 2024, is ensuring there is adequate resourcing available to complete the projects, particularly funding. Historically, funding to complete strategic work has not been available.

 

The Strategic Planning team currently consists of 2 strategic town planners and 1 senior strategic planner. In order to manage the forecasted strategic planning work programme, it is considered that an additional senior strategic planner or strategic planning coordinator be recruited. There is an existing full-time equivalent position available for this senior / coordinator role.

 

Indicative financial year funding (consultants) and full-time equivalent staff implications are identified in Table 1. The full-time equivalent staff implications are utilisation of existing positions based on projects needing a project manager and cross-council project team.

 

Project 

F/Y

Grant Funding Application

Allocated Funding

Required Funding

FTE Requirements (cross Council)

NGA Technical Studies 

2023/24 

$0 

$0 

$600,000 to $1,000,000 

2.5 

NGA Precinct Structure Plan 

2024/25 

$0 

$0 

$250,000 

2.5 

CBD Master Plan 

2023/24 

$0 

$265,000 

Implementation 

2.5 

Housing Strategy 

2023/24 

$250,000 

$65,000* 

$250,000 

If grant unsuccessful 

Implementation 

2 

Tolland Renewal 

2023/24 

$0 

$0 

$0 

0.20 

Health & Knowledge Precinct 

2023/24 

$0 

$0 

$150,000 

2 

NGA LEP & DCP 

2024/25 

$0 

$0 

$150,000 

2.5 

Economic Strategy 

2024/25 

$0 

$49,000 

$250,000 

2.5 

Industrial/ Employment Land Strategy 

2025/26 

$0 

$0 

$150,000 

2 

Retail Strategy 

2025/26 

$0 

$0 

$150,000 

2 

WITS Review 

2024/25 

$0 

$0 

$200,000 

2.5 

Totals 

2023/24 

$250,000 

$330,000 

$1.4M 

9.2 

2024/25 

$0 

$49,000 

$850,000 

10 

2025/26 

$0 

$0 

$300,000 

4 

Total 2023-26 

$250,000 

$379,000 

$2.55M 

23.2 

*The $65,000 in allocated funding noted for the Housing Strategy is currently included in the Smart City Strategy Budget ($65,000 General Purpose Revenue; $100,000 Section 7.11 funding).  The next amendment to the Section 7.11 plan will remove this project from the plan, and the $65,000 currently allocated in this 2022/23 financial year will be transferred to a reserve to be utilised for the Housing Strategy scheduled for 2023/24.

 

Items identified for 2023/24 financial year will form part of budget considerations and reported to Council.

 

Strategic Planning Focus Areas

A key outcome of the LSPS is to find a balance between growth, the natural environment, sustainability, and liveability and is underpinned by a series of priority actions identified in the implementation plan.

The key focus is to align our resourcing and priorities with the actions identified in the LSPS, with the focus on the short-term actions. Within the LSPS the short-term actions are identified to commence over the 0-5-year period of the plan being adopted.

The strategic planning focus areas for 2023 will be:

§ Northern Growth Area technical studies (subject to funding)

§ CBD Master Plan (Current budget available)

- Currently out for Tender

§ Housing Strategy (subject to grant funding and $65K Council co-contribution)

- Consistent with NSW Planning Local Housing Strategy Guideline: Housing Strategy Guideline

§ Support of Tolland Renewal LEP & DCP amendments when lodged

§ Health and Knowledge Precinct planning framework development

§ Southern Growth area Planning Proposals

§ Administrative amendments of the DCP

- Resolving inconsistencies between controls

- Re-ordering controls to provide clarification

- Updating references to legislation

- Providing consistency between exempt and complying development baselines and the DCP requirements

§ Update of the Flooding DCP controls in line with the adopted flood risk management studies (subject to funding)

§ Ongoing assessment of planning proposals and implementation of strategies 

·          Southern Growth Area proposals – LEP21/0001 and LEP21/0006 

·          Planning Proposals 

·          Scoping Proposals 

 

Financial Implications

The identified plans and strategies contain several actions for planning initiatives, strategies and plans to be completed. To be able to complete this work, both staff and financial resources will need to be prioritised and allocated.

 

To commit financial resources, a further report will be tabled for Council’s consideration seeking required budget variations where required.

 

Budget Variation – transfer funds to reserve to utilise in 2023/24:

As noted in the footnotes to the table above, it is proposed to transfer the $65,000 part funding currently allocated against the Smart City Strategy, to a reserve this financial year in order to be utilised as a part funding source for the Housing Strategy scheduled for the 2023/24 financial year.

Policy and Legislation

Environmental Planning and Assessment Act 1979

Wagga Wagga Local Strategic Planning Statement – Wagga 2040

Wagga Wagga Local Environmental Plan 2010

Wagga Wagga Development Control Plan 2010

 

Link to Strategic Plan

Community leadership and collaboration

Objective: Wagga Wagga has strong community leadership and a shared vision for the future

Plan long term for the future of Wagga Wagga

 

Risk Management Issues for Council

The adoption of local plans and strategies and the identification of actions creates an expectation that the actions identified within the plans will be funded and undertaken. Without adequate resourcing allocated to identified actions, Council is at risk of public scrutiny and pressure to complete actions.

 

Internal / External Consultation

The plans and strategies identified within the report have undergone extensive community and council consultation prior to adoption. Further plans and strategies identified to be undertaken will require further internal and external consultation.

 

 

Attachments

 

1.

LEP Amendment List

 

2.

DCP Amendment List

 

 

 


Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-2

 

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Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-2

 

Table

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Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-3

 

RP-3               Proposed Planning Agreement 12 Blake Street, Wagga Wagga

Author:         Belinda Maclure 

Executive:    John Sidgwick

         

 

Summary:

In March 2022 Council received an offer to enter into a planning agreement in relation to the development of 12 Blake Street, Wagga Wagga (DA19/0125). The offer is to provide infrastructure to improve the public realm in Blake Street in lieu of paying Section 7.12 (previously Section 94A) contributions due for the development.

 

The offer was placed on public exhibition and after consideration of the feedback declined by Council. An updated offer was received in October 2022. The changes are considered material and therefore the updated offer to enter into a planning agreement will be placed on public exhibition.

 

 

Recommendation

That Council:

a       provide in principle support for the proposed Planning Agreement in relation to Blake Street and associated with DA19/0125

b       place the proposed Planning Agreement on public exhibition from 17 December 2022 to 30 January 2023 and invite submissions until 10 February 2023

c        receive a further report following the exhibition and submission period:

i         addressing any submission made in respect of the proposed Planning Agreement; and

ii        recommending whether or not to enter into the proposed Planning Agreement

 

Report

Council at its Ordinary Meeting on 8 August 2022 resolved to place the proposed planning agreement for Blake Street on public exhibition. (Resolution Number 22/237)

 

After careful consideration of the nineteen written submissions received, Council resolved at their 17 October 2022 meeting to decline the offer to enter into a planning agreement as it did not support closing access to the Council carpark from Blake Street (Officers Report RP-1, Minute Number 22/341).

 

Following this decision, the developer Davtil Pty Ltd (Mr Kerry Pascoe) updated the offer to enter into a planning agreement with Council responding to the feedback received. The latest offer includes the provision of public infrastructure in lieu of the Section 7.12 contributions due for the development described in DA19/0125, approved by Council resolution 19/209, determined on 24 June 2019.

 


 

The latest offer includes the following public infrastructure:

 

·        reconfiguration of the existing on-street car parking between Morgan and Forsyth Streets from parallel parking to angle parking,

·        reconfiguration of existing road design including the installation of new traffic calming devices at either end of Blake Street,

·        establishment of new line marking and signage including the designation of disabled car parking spaces,

·        removal of eleven existing trees and replace with eleven “Chinese Elms”,

·        replacing and upgrade to 2.5 metre wide footpaths on the western side of Blake Street,

·        landscaping Council carpark, including locating an electrical sub-station on an 25m2 easement, and

·        installation of three lights in Blake Street Council carpark.

The following details the changes to the offer after it was placed on public exhibition:

·        removal of the bollards closing the carpark entrance to Blake Street,

·        replacement of all eleven street trees (rather than six),

·        inclusion of the costs to erect lighting in the Council carpark, and

·        inclusion of a cost to be taken off the value of the infrastructure provided in the proposed planning agreement for the sub-station to be constructed on Council’s carpark of $19,588.

As the changes are considered material, the updated offer will be placed on public exhibition.

Financial Implications

The Section 7.12 contributions due for this development ($104,075) have been paid by the applicant on 16 June 2021.  If Council approve this planning proposal, this will subsequently approve the refund of the $104,075 currently paid in Section 7.12 contributions. 

 

The Local Infrastructure Contributions Plan 2019 - 2034 details the projects funded by the Section 7.12 levies (page 34). The project list includes $500,000 per year for the debt servicing costs of the Bomen Enabling roads – stage 1 project and $20,000 per year towards village recreational projects from the Recreation, Open Space and Community Strategy and Implementation Plan 2040.

 

The Section 7.12 Reserve balance as included in Wagga Wagga City Council’s Annual Financial Statements for the year ended 30 June 2022 was a $276,000 surplus position.  This is a positive result from the ($464,000) deficit position as at 30 June 2021 and is a result of larger than anticipated income received during the 2021/22 financial year.

 

It is important to note that the current 2022/23 Long Term Financial Plan is still estimating the Section 7.12 Reserve balance being in a deficit position for the next 10 years based on anticipated annual contributions to be received. 

 

As noted previously in this report, if Council approve this planning proposal, this will result in a refund of contributions received of $104,075 and will affect the closing balance of the Section 7.12 Reserve for the 2022/23 financial year and will affect the ability to fund other new projects.

 

The total value of the infrastructure to be provided in the proposed planning agreement as at 02 December 2022 is $171,900. This includes the cost of the easement required within the council car park to accommodate the proposed sub-station which has been valued at $19,588.

Policy and Legislation

Environmental Planning and Assessment Act 1979 Section 7.4

Wagga Wagga Local Infrastructure Contribution Plan 2019 – 2034

Wagga Wagga City Council Developer Infrastructure Agreements Policy POL 121

 

Link to Strategic Plan

The Environment

Objective: Future growth and development of Wagga Wagga is planned for in a sustainable manner

Ensure sustainable urban development

 

Risk Management Issues for Council

There is a risk the community will perceive an agreement with a developer as unfair and benefiting the developer and not the community. Council aims to ensure all developers are treated fairly and consistently when dealing with Council and works to ensure transparency of all agreements between developers and Council.

 

It is important developers propose to provide suitable infrastructure through a planning agreement. Proposed planning agreements need to include developer-provided infrastructure which aligns with Council’s strategic plans.

 

As noted in the Financial Implications section of this report, if Council approve this planning proposal, this will face further pressure on this Reserve, and will increase the timeframe this Reserve will be in a deficit position.

Internal / External Consultation

The public exhibition of the proposed planning agreement in August/September saw a Connect Wagga website created to provide information to the community. During the period signs were erected in the Council carpark encouraging people to consider the proposal and make a written submission. All businesses in the street received a visit from Council staff and were encouraged to make a submission. Six businesses made contact with Council staff after these visits to discuss the proposal in more detail and ask questions. Letters were sent to all land holders in a wider identified area and all residents of the street. Nineteen written submissions were received.

 

The same strategies will be used during the December/January public exhibition period.


 

The following table show the community engagement strategies used during the public exhibition period.

 

 

Mail

Media

Community Engagement

Digital

Rates notices insert

Direct mail

Letterbox drop

Council news story

Council News advert

Media releases

TV/radio advertising

One-on-one meetings

Your Say website

Community meetings

Stakeholder workshops

Drop-in sessions

Surveys and feedback forms

Social media

Email newsletters

Website

Digital advertising

TIER

Consult

 

 

 

 

 

 

 

 

 

 

 

 

Involve

 

 

 

 

 

 

 

 

Collaborate

 

X

X

 

X

X

 

X

X

 

 

 

 

X

X

X

 

 

 

Attachments

 

1.

Blake Street Proposed Planning Agreement Community Information July 2022

 

 

 


Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-3

 

Timeline

Description automatically generated

Diagram

Description automatically generated

Diagram, engineering drawing

Description automatically generated

Diagram

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Diagram

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Diagram

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Report submitted to the Ordinary Meeting of Council on Monday 12 December 2022

RP-4

 

RP-4               FINANCIAL PERFORMANCE REPORT AS AT 30 NOVEMBER 2022

Author:          Carolyn Rodney 

         

 

Summary:

This report is for Council to consider information presented on the 2022/23 budget and Long-Term Financial Plan, and details Council’s external investments and performance as at 30 November 2022.

 

 

Recommendation

That Council:

a       approve the proposed 2022/23 budget variations for the month ended 30 November 2022 and note the balanced budget position as presented in this report

b       approve the proposed budget variations to the 2022/23 Long Term Financial Plan Capital Works Program including future year timing adjustments

c        note the Responsible Accounting Officer’s reports, in accordance with the Local Government (General) Regulation 2021 (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

d       note the details of the external investments as at 30 November 2022 in accordance with section 625 of the Local Government Act 1993

e       accept the funding offer of $793,152 from Transport for NSW for the Fixing Local Roads Pothole Repair Round

 

Report

Wagga Wagga City Council (Council) forecasts a balanced budget position as at 30 November 2022.

 

The balanced budget position excludes the Wagga Wagga Airport estimated deficit result for the financial year – as previously reported to Council, any Airport deficit result will be sanctioned, and funded in the interim by General Purpose Revenue (via the Internal Loans Reserve).  The deficit results will be accounted for as a liability in the Airport’s end of financial year statements and paid back to General Purpose Revenue (Internal Loans Reserve) by the Airport in future financial years. 

 

Proposed budget variations including adjustments to the capital works program are detailed in this report for Council’s consideration and adoption.

 

Council has experienced a positive monthly investment performance for the month of November when compared to budget ($435,316 up on the monthly budget). This is mainly due to better than budgeted returns on Councils investment portfolio, as a result of the ongoing movement in the interest rate environment and a positive return on Councils NSW T-Corp Managed Fund in November 2022.

 


 

Key Performance Indicators

 

 

 

 

OPERATING INCOME

Total operating income is 45% of approved budget and is trending slightly above budget for the month of November 2022. 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 82% when compared to budget.

 

OPERATING EXPENSES BALANCE AS AT 30 NOVEMBER 2022

Total operating expenditure is 43% of approved budget so it is tracking slightly over budget at this stage of the financial year. This is due to the payment of annual one-off expenses such as rates and insurance.

 

CAPITAL INCOME

Total capital income is 27% of approved budget. It is important to note that the actual income from capital is influenced by the timing of the receipt of capital grants and contributions in relation to expenditure incurred on the projects. This income also includes the sale of property, plant and equipment.

 

CAPITAL EXPENDITURE

Total capital expenditure including commitments is 38% of approved budget with some purchase orders being raised for the full contract amounts for multi-year projects. Excluding commitments, the total expenditure is 10% when compared to the approved budget.

WAGGA WAGGA CITY COUNCIL
STATEMENT OF FINANCIAL PERFORMANCE
1 JULY 2022 TO 30 NOVEMBER 2022

CONSOLIDATED STATEMENT

 

ORIGINAL
BUDGET
2022/23

BUDGET ADJ
2022/23

APPROVED BUDGET
2022/23

YTD ACTUAL   EXCL COMMT'S 2022/23

COMMT'S 2022/23

YTD ACTUAL + COMMT'S
2022/23

YTD % OF BUD

Revenue 

Rates & Annual Charges

(75,524,168)

0

(75,524,168)

(31,556,808)

0

(31,556,808)

42%

User Charges & Fees

(27,844,136)

(442,450)

(28,286,586)

(12,512,472)

0

(12,512,472)

44%

Other Revenues

(2,769,503)

(202,000)

(2,971,503)

(1,230,420)

0

(1,230,420)

41%

Operating Grants & Contributions

(13,524,889)

6,480,358

(7,044,530)

(4,493,039)

0

(4,493,039)

64%

Capital Grants & Contributions

(36,295,253)

(30,493,544)

(66,788,797)

(14,390,854)

0

(14,390,854)

22%

Interest & Investment Income

(1,828,128)

0

(1,828,128)

(2,115,794)

0

(2,115,794)

116%

Other Income

(1,406,222)

(51,000)

(1,457,222)

(685,112)

0

(685,112)

47%

Total Revenue

(159,192,300)

(24,708,636)

(183,900,935)

(66,984,499)

0

(66,984,499)

36%

 

  

Expenses

 

Employee Benefits & On-Costs

51,315,412

300,000

51,615,412

18,982,043

0

18,982,043

37%

Borrowing Costs

3,268,989

0

3,268,989

719,781

0

719,781

22%

Materials & Services

36,542,674

7,228,577

43,771,251

17,965,515

4,144,443

22,109,958

51%

Depreciation & Amortisation

43,196,051

0

43,196,051

17,998,355

0

17,998,355

42%

Other Expenses

1,866,271

2,078,121

3,944,392

2,656,564

531,023

3,187,587

81%

Total Expenses

136,189,398

9,606,698

145,796,096

58,322,257

4,675,466

62,997,723

43%

 

Net Operating (Profit)/Loss

(23,002,902)

(15,101,937)

(38,104,839)

(8,662,242)

4,675,466

(3,986,777)

 

Net Operating (Profit)/Loss before Capital Grants & Contributions

13,292,351

15,391,607

28,683,958

5,728,611

4,675,466

10,404,077

 

 

 

Capital / Reserve Movements

Capital Expenditure - One Off Confirmed

13,638,521

69,410,214

83,048,735

6,136,293

32,151,764

38,288,057

46%

Capital Expenditure – Recurrent

18,890,352

8,093,710

26,984,062

3,545,711

2,188,336

5,734,047

21%

Capital Exp – Pending Projects

59,770,944

(55,854,237)

3,916,707

0

0

0

0%

Loan Repayments

7,571,681

0

7,571,681

2,738,200

0

2,738,200

36%

New Loan Borrowings

(17,458,537)

11,279,368

(6,179,168)

0

0

0

0%

Sale of Assets

(880,181)

(2,210,993)

(3,091,174)

(4,171,106)

0

(4,171,106)

135%

Net Movements Reserves

(15,333,827)

(15,616,126)

(30,949,952)

0

0

0

0%

Total Cap/Res Movements

66,198,954

15,101,937

81,300,891

8,249,098

34,340,100

42,589,198

 

 

 

ORIGINAL
BUDGET
2022/23

BUDGET ADJ
2022/23

APPROVED BUDGET
2022/23

YTD ACTUAL   EXCL COMT'S 2022/23

COMMT'S 2022/23

YTD ACTUAL + COMMT'S
2022/23

YTD % OF BUD

Net Result after Depreciation

43,196,052

(0)

43,196,052

(413,145)

39,015,565

38,602,421

 

 

Add back Depreciation Expense

43,196,051

0

43,196,051

17,998,355

0

17,998,355

42%

 

Cash Budget (Surplus) / Deficit

0

0

0

(18,411,499)

39,015,565

20,604,066

 

 

 

 

 

 

 

Years 2-10 Long Term Financial Plan (Surplus) /Deficit

 

Description

Budget

2023/24

Budget

2024/25

Budget

2025/26

Budget

2026/27

Budget

2027/28

Budget

2028/29

Budget

2029/30

Budget

2030/31

Budget

2031/32

Adopted Bottom Line (Surplus) / Deficit

1,163,681

1,205,672

4,377,581

4,833,506

2,199,382

1,967,334

1,257,474

1,234,053

418,437

Adopted Bottom Line Adjustments

29,080

30,297

43,051

44,342

45,673

47,042

48,454

49,907

51,404

Revised Bottom Line (Surplus) / Deficit

1,192,761

1,235,969

4,420,632

4,877,848

2,245,055

2,014,376

1,305,928

1,283,960

469,841

 

 

 

 

 

 

 

 

 

 

 

 




2022/23 Revised Budget Result – (Surplus) / Deficit

$’000s

Original 2022/23 Budget Result as adopted by Council

Total Budget Variations approved to date

Budget Variations for November 2022

$0K

$0K

$0K

Proposed Revised Budget result for 30 November 2022 - (Surplus) / Deficit

$0K

 

 


 

The proposed Operating and Capital Budget Variations for 30 November 2022 which affect the current 2022/23 financial year are listed below.

 

Budget Variation

Amount

Funding Source

Net Impact

(Fav)/ Unfav

4 – Community Place and Identity

NSW Performing Arts Covid-19 Support Grant

$248K

NSW Performing Arts Covid-19 Support Grant Income ($248K)

Nil

The Wagga Wagga Civic Theatre was eligible to apply for funding through the NSW Government Economic Recovery Package for NSW Venues and Promoters that have lost income due to shows being cancelled or postponed during the period from June 2021 – April 2022. This funding will support the Civic Theatre to deliver recovery programs and projects over the next two financial years focused on audience development and the presentation of a diverse range of performances, workshops and performing arts programming at the Civic Theatre. These funds also cover the recent Council Resolution to support SoACT in the 60th Anniversary Performance of ‘Pirates of Penzance’ during April 2023.

Estimated Completion: 30 June 2023

Job Consolidation: 21591

 

Hands on Weavers Project

$15K

 NSW Government Arts Restart Strategic Initiative Grant ($15K)

Nil

Council has been successful in securing devolved grant funding from the Commonwealth Indigenous Language and Arts Program and NSW Government’s Arts Restart Strategic Initiative – Creating on Country. This devolved funding has been administered by Eastern Riverina Arts. This funding will support the delivery of the Mayinyguwalgu Ngunggirridyu – I will share with other people exhibition and public program schedule that will be delivered in partnership with local First Nations community organisation Hands on Weavers led by Aunty Lorraine Tye during November – February 2023.

Estimated Completion: 30 June 2023

Job Consolidation: 21445

 

Humula and Mangoplah Flood Mitigation Study

$45K

Department of Planning & Environment (DPE) Grant ($30K)

Stormwater Levy Reserve ($15K)

Nil

Council has been successful in securing DPE Floodplain Management Program grant funding for the Humula and Mangoplah Flood Study 2022/FMP/0039. The flood study will produce information on flood levels, velocities, flows, hydraulic categories and provisional hazard categories for a full range of flood events at Humula & Mangoplah. The total project budget is $120K phased over 2022/23 and 2023/24 with the grant being 2:1 funding with Council’s portion proposed to be funded from the Stormwater Levy Reserve.

Estimated Completion: 13 December 2024

Job Consolidation: 22127

 

Alan Turner Depot Upgrade Works

$107K

Plant Replacement Reserve ($89K)

Buildings Reserve ($9K)

Building Maintenance ($5K)

Depot Maintenance ($4K)

Nil

Funds are required for works planned for the Alan Turner Depot.  Works include a Wash Bay Upgrade ($85K), and additional Power and Lighting installation works ($22K). 

The works will be part funded from the Plant Replacement and Buildings Reserves, and operational maintenance funds.

 Estimated Completion: 30 June 2023

Job Consolidations: 22138; 22137; 22139

 

5 – The Environment

Pothole Repair Road Works

$793K

Transport for NSW Grant Funding ($793K)

Nil

Council has been successful in its grant application to Transport for NSW for Pothole Repair Round (PRR) funding under the Fixing Local Roads Program. This funding is to assist Councils in Regional NSW with pothole repair work and to increase their ongoing maintenance and repair of damaged local and regional, sealed and unsealed roads. The amounts granted under this program are based on each Council’s road network.

Estimated Completion: 31 December 2023

Job Consolidation: 22143

 

 

$0K


 

The following 2022/23 and future year projects have been reviewed by Council’s Project Management Team and delivery timelines rescheduled. There has been no change to the total budgets for these projects.

 

Job No.

Project Title*

2022/23 Current Confirmed

2022/23 Proposed Confirmed

2023/24 Proposed Pending

2023/24 Proposed Confirmed

2024/25 Proposed Pending

18812

 

Active Travel Plan – Stage 1

$3,434,943

$2,834,943

$0

$600,000

$0

21931

 

Active Travel Plan – Stage 3

$804,897

$654,897

$0

$150,000

$0

21366

 

Cemetery Outdoor Touch Screen Kiosk

$14,957

$0

$0

$14,957

$0

17866

Levee System Upgrade – North Wagga

(deferred $8.4M from 23/24 to 24/25)

$0

$0

$0

$0

$8,419,811

21598

 

Old Narrandera Road Sealing

$2,159,307

$1,659,307

$0

$500,000

$0

21792

Tarcutta Memorial Upgrade (tfr $54K from Pending to Confirmed in 23/24)

$126,740

$126,740

$0

$54,342

$0

*The current year project budgets have been reviewed and at this stage no future year increases have been factored in due to the restrictions on the project funding source.  For future year project budget adjustments, once these projects are scoped in the year of commencement, adjustments/increases will be factored in and reported to Council at that time.

 

 

 

 

2022/23 Capital Works Summary

 

Capital Works

Approved Budget

Proposed Movement

Proposed Budget

One-off

$83,048,735

($1,158,575)

$81,890,160

Recurrent

$26,984,062

$0

$26,984,062

Pending

$3,916,707

$0

$3,916,707

Total Capital Works

$113,949,504

($1,158,575)

$112,790,929

 


 

Current Restrictions

 

RESERVES SUMMARY

30 NOVEMBER 2022

 

CLOSING BALANCE 2021/22

ADOPTED RESERVE TRANSFERS 2022/23

BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 21.11.2022

PROPOSED CHANGES for Council Resolution*

BALANCE AS AT 30 NOVEMBER 2022

 

 

 

 

 

 

Externally Restricted

 

 

 

 

 

Developer Contributions - Section 7.11

(31,045,478)

7,213,679

(7,268,259)

 

(31,100,058)

Developer Contributions - Section 7.12

(278,187)

(28,179)

0

 

(306,366)

Developer Contributions - Stormwater Section 64

(7,112,864)

(786,229)

395,767

 

(7,503,326)

Sewer Fund

(32,439,399)

673,962

2,901,899

 

(28,863,538)

Solid Waste

(24,880,735)

7,737,392

(2,298,483)

 

(19,441,826)

Specific Purpose Unexpended Grants & Contributions

(4,195,951)

 

4,195,951

 

0

SRV Levee Reserve

(6,357,282)

0

57,520

 

(6,299,762)

Stormwater Levy

(5,150,281)

35,773

733,446

15,000

(4,366,062)

Total Externally Restricted

(111,460,179)

14,846,399

(1,282,158)

15,000

(97,880,938)

 

 

 

Internally Restricted

 

 

Airport

0

0

0

 

0

Art Gallery

(3,804)

0

0

 

(3,804)

Bridge Replacement

(296,805)

0

0

 

(296,805)

Buildings

(1,088,635)

(23,658)

238,578

8,882

(864,832)

CCTV

(100,843)

30,633

30,000

 

(40,211)

Cemetery

(882,761)

(226,784)

61,080

 

(1,048,465)

Civic Theatre

(44,048)

0

43,922

 

(127)

Civil Infrastructure

(9,317,219)

1,598,454

(326,175)

 

(8,044,940)

Community Works

(159,648)

140,317

12,555

 

(6,776)

Council Election

(235,385)

(112,845)

49,085

 

(299,146)

Economic Development

(419,160)

60,000

349,832

 

(9,328)

Emergency Events Reserve

(639,548)

(120,142)

(275,120)

 

(1,034,810)

Employee Leave Entitlements Gen Fund

(3,453,655)

0

0

 

(3,453,655)

Environmental Conservation

(116,578)

41,578

0

 

(75,000)

Event Attraction

(491,893)

0

210,249

 

(281,644)

Financial Assistance Grants in Advance

(8,536,837)

0

8,536,837

 

0

Grant Co-Funding

(500,000)

0

0

 

(500,000)

Gravel Pit Restoration

(816,897)

3,333

0

 

(813,564)

Information Services

(1,835,475)

(507,158)

179,643

 

(2,162,990)

Insurance Variations

(50,000)

0

0

 

(50,000)

Internal Loans

(3,649,517)

(201,545)

(321,602)

 

(4,172,664)

Lake Albert Improvements

(105,839)

(21,366)

0

 

(127,205)

Library

0

(171,724)

0

 

(171,724)

Livestock Marketing Centre

(6,032,463)

685,981

2,177,470

 

(3,169,012)

 


 

 

 

CLOSING BALANCE 2021/22

ADOPTED RESERVE TRANSFERS 2022/23

BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 21.11.2022

PROPOSED CHANGES for Council Resolution*

BALANCE AS AT 30 NOVEMBER 2022

Museum Acquisitions

(39,378)

10,000

15,000

 

(14,378)

Net Zero Emissions

(394,001)

0

321,212

 

(72,790)

Oasis Reserve

(1,085,465)

(63,900)

428,554

 

(720,810)

Parks & Recreation Projects

(1,356,795)

(33,906)

661,822

 

(728,879)

Parks Water

0

(180,000)

0

 

(180,000)

Planning Legals

(100,000)

0

0

 

(100,000)

Plant Replacement

(4,335,819)

(723,537)

2,557,372

88,500

(2,413,484)

Project Carryovers

(3,098,056)

0

3,098,056

 

0

Public Art

(211,155)

106,595

34,893

 

(69,667)

Sister Cities

(50,000)

10,000

7,000

 

(33,000)

Stormwater Drainage

(158,178)

0

48,000

 

(110,178)

Strategic Real Property

(766,176)

0

69,510

 

(696,666)

Subdivision Tree Planting

(368,640)

20,000

0

 

(348,640)

Unexpended External Loans

(3,143,977)

74,744

2,909,068

 

(160,165)

Workers Compensation

(211,112)

 

50,963

 

(160,149)

Total Internally Restricted

(54,095,762)

395,070

21,167,803

97,382

(32,435,507)

 

 

 

 

 

 

Total Restricted

(165,555,941)

15,241,469

19,885,644

112,382

(130,316,446)

 

 

 

 

 

 

Total Unrestricted

(11,494,000)

0

0

0

(11,494,000)

 

 

 

 

 

 

Total Cash, Cash Equivalents and Investments

(177,049,941)

15,241,469

19,885,644

112,382

(141,810,446)

 


 

Investment Summary as at 30 November 2022

In accordance with Regulation 212 of the Local Government (General) Regulation 2021, details of Wagga Wagga City Council’s external investments are outlined below.

 

Institution

Rating

Closing Balance
Invested
31/10/2022
$

Closing Balance
Invested
31/10/2022
$

November
EOM
Current Yield
%

November
EOM
% of Portfolio

Investment
Date

Maturity
Date

Term
(months)

At Call Accounts

 

 

 

 

 

 

 

 

NAB

AA-

220,234

1,313,255

2.85%

0.65%

N/A

N/A

N/A

Rabobank

A+

21

0

0.40%

0.00%

N/A

N/A

N/A

CBA

AA-

6,116,817

10,205,404

2.85%

5.09%

N/A

N/A

N/A

CBA

AA-

17,915,154

17,954,985

2.90%

8.95%

N/A

N/A

N/A

Macquarie Bank

A+

9,120,676

9,141,433

2.85%

4.56%

N/A

N/A

N/A

Total At Call Accounts

 

33,372,902

38,615,077

2.87%

19.24%

 

 

 

Short Term Deposits

 

 

 

 

 

 

 

 

CBA

AA-

2,000,000

2,000,000

2.22%

1.00%

20/04/2022

20/04/2023

12

CBA

AA-

2,000,000

2,000,000

3.68%

1.00%

8/06/2022

8/06/2023

12

AMP

BBB

0

1,000,000

4.70%

0.50%

15/11/2022

15/11/2023

12

AMP

BBB

0

2,000,000

4.55%

1.00%

30/11/2022

30/11/2023

12

Total Short Term Deposits

 

4,000,000

7,000,000

3.66%

3.49%

 

 

 

Medium Term Deposits

 

 

 

 

 

 

 

 

BOQ

BBB+

2,000,000

2,000,000

1.20%

1.00%

4/01/2022

4/01/2024

24

BOQ

BBB+

1,000,000

1,000,000

3.78%

0.50%

1/06/2022

3/06/2024

24

Westpac

AA-

2,000,000

2,000,000

1.32%

1.00%

28/06/2021

29/06/2026

60

Westpac

AA-

2,000,000

2,000,000

1.80%

1.00%

15/11/2021

17/11/2025

48

P&N Bank

BBB

1,000,000

0

0.00%

0.00%

20/11/2018

21/11/2022

48

Bendigo-Adelaide

BBB+

1,000,000

0

0.00%

0.00%

30/11/2018

30/11/2022

48

BoQ

BBB+

1,000,000

1,000,000

2.15%

0.50%

8/07/2019

10/07/2023

48

ICBC

A

2,000,000

2,000,000

2.03%

1.00%

6/11/2019

6/11/2024

60

ICBC

A

2,000,000

2,000,000

1.83%

1.00%

28/11/2019

28/11/2024

60

Judo Bank

BBB-

1,000,000

1,000,000

1.30%

0.50%

3/12/2021

4/12/2023

24

ICBC

A

1,000,000

1,000,000

1.75%

0.50%

6/01/2020

8/01/2024

48

BOQ

BBB+

1,000,000

1,000,000

2.00%

0.50%

28/02/2020

28/02/2025

60

Police Credit Union

NR

1,000,000

1,000,000

2.20%

0.50%

1/04/2020

1/04/2025

60

ICBC

A

1,000,000

1,000,000

1.85%

0.50%

29/05/2020

29/05/2025

60

ICBC

A

1,000,000

1,000,000

1.86%

0.50%

1/06/2020

2/06/2025

60

ICBC

A

2,000,000

2,000,000

1.75%

1.00%

25/06/2020

25/06/2025

60

ICBC

A

2,000,000

2,000,000

1.75%

1.00%

25/06/2020

25/06/2025

60

ICBC

A

2,000,000

2,000,000

1.60%

1.00%

29/06/2020

28/06/2024

48

ICBC

A

3,000,000

3,000,000

5.07%

1.49%

30/06/2022

30/06/2027

60

ICBC

A

2,000,000

2,000,000

1.42%

1.00%

7/07/2020

8/07/2024

48

ICBC

A

2,000,000

2,000,000

1.50%

1.00%

17/08/2020

18/08/2025

60

BoQ

BBB+

1,000,000

1,000,000

1.25%

0.50%

7/09/2020

8/09/2025

60

BoQ

BBB+

2,000,000

2,000,000

1.25%

1.00%

14/09/2020

15/09/2025

60

NAB

AA-

1,000,000

1,000,000

0.60%

0.50%

14/09/2021

14/09/2023

24

AMP

BBB

1,000,000

1,000,000

3.30%

0.50%

25/05/2022

27/11/2023

18

ICBC

A

1,000,000

1,000,000

1.20%

0.50%

7/12/2020

8/12/2025

60

Warwick CU

NR

1,000,000

1,000,000

0.75%

0.50%

29/01/2021

30/01/2023

24

NAB

AA-

2,000,000

2,000,000

0.95%

1.00%

29/01/2021

29/01/2026

60

NAB

AA-

1,000,000

1,000,000

1.08%

0.50%

22/02/2021

20/02/2026

60

NAB

AA-

2,000,000

2,000,000

1.25%

1.00%

3/03/2021

2/03/2026

60

Summerland CU

NR

1,000,000

1,000,000

0.75%

0.50%

29/04/2021

28/04/2023

24

NAB

AA-

2,000,000

2,000,000

1.40%

1.00%

21/06/2021

19/06/2026

60

NAB

AA-

2,000,000

2,000,000

0.65%

1.00%

25/06/2021

26/06/2023

24

Westpac

AA-

2,000,000

2,000,000

1.32%

1.00%

25/06/2021

25/06/2026

60

ICBC

A

1,000,000

1,000,000

1.32%

0.50%

25/08/2021

25/08/2026

60

NAB

AA-

2,000,000

2,000,000

0.65%

1.00%

31/08/2021

31/08/2023

24

AMP

BBB

2,000,000

2,000,000

1.00%

1.00%

18/10/2021

17/10/2024

36

Westpac

AA-

2,000,000

2,000,000

1.56%

1.00%

30/11/2021

29/11/2024

36

Westpac

AA-

2,000,000

2,000,000

2.00%

1.00%

8/02/2022

10/02/2025

36

P&N Bank

BBB

2,000,000

2,000,000

2.40%

1.00%

9/03/2022

10/03/2025

36

P&N Bank

BBB

2,000,000

2,000,000

2.00%

1.00%

10/03/2022

11/03/2024

24

MyState

BBB

2,000,000

2,000,000

2.20%

1.00%

2/03/2022

3/03/2025

36

CBA

AA-

2,000,000

2,000,000

3.28%

1.00%

26/04/2022

26/04/2024

24

CBA

AA-

2,000,000

2,000,000

3.78%

1.00%

4/05/2022

6/05/2024

24

CBA

AA-

2,000,000

2,000,000

3.99%

1.00%

4/05/2022

5/05/2025

36

ING Bank

A

1,000,000

1,000,000

3.76%

0.50%

23/05/2022

23/05/2024

24

ICBC

A

2,000,000

2,000,000

3.95%

1.00%

6/06/2022

6/06/2024

24

Australian Unity

BBB+

2,000,000

2,000,000

4.15%

1.00%

8/06/2022

11/06/2024

24

Suncorp

A+

2,000,000

2,000,000

4.40%

1.00%

22/06/2022

14/12/2023

18

MyState

BBB

2,000,000

2,000,000

4.45%

1.00%

29/06/2022

28/06/2024

24

BoQ

BBB+

1,000,000

1,000,000

4.50%

0.50%

7/07/2022

7/07/2025

36

CBA

AA-

1,000,000

1,000,000

4.25%

0.50%

12/08/2022

12/08/2025

36

P&N Bank

BBB

3,000,000

3,000,000

4.55%

1.49%

29/08/2022

29/08/2025

36

Australian Military Bank

BBB+

2,000,000

2,000,000

4.55%

1.00%

2/09/2022

2/09/2025

36

P&N Bank

BBB

1,000,000

1,000,000

4.40%

0.50%

9/09/2022

9/09/2025

36

BoQ

BBB+

1,000,000

1,000,000

4.70%

0.50%

4/10/2022

4/10/2024

24

AMP

BBB

2,000,000

2,000,000

4.95%

1.00%

21/10/2022

21/10/2024

24

ICBC

A

2,000,000

2,000,000

5.20%

1.00%

21/10/2022

21/10/2025

36

AMP

BBB

0

1,000,000

4.75%

0.50%

15/11/2022

14/11/2024

24

AMP

BBB

0

1,000,000

4.80%

0.50%

21/11/2022

20/11/2025

36

Total Medium Term Deposits

 

95,000,000

95,000,000

2.55%

47.34%

 

 

 

Floating Rate Notes - Senior Debt

 

 

 

 

 

 

 

 

Westpac

AA-

3,024,322

0

0.00%

0.00%

24/01/2019

24/04/2024

63

NAB

AA-

2,023,687

0

0.00%

0.00%

26/02/2019

26/02/2024

60

Westpac

AA-

2,524,293

2,513,164

BBSW + 88

1.25%

16/05/2019

16/08/2024

63

Suncorp

A+

1,249,934

1,254,186

BBSW + 78

0.62%

30/07/2019

30/07/2024

60

ANZ

AA-

2,013,313

2,004,667

BBSW + 77

1.00%

29/08/2019

29/08/2024

60

HSBC

AA-

2,510,838

2,515,587

BBSW + 83

1.25%

27/09/2019

27/09/2024

60

Bank Australia

BBB

1,508,192

1,512,316

BBSW + 90

0.75%

2/12/2019

2/12/2022

36

ANZ

AA-

1,501,799

1,508,511

BBSW + 76

0.75%

16/01/2020

16/01/2025

60

NAB

AA-

2,002,544

2,010,625

BBSW + 77

1.00%

21/01/2020

21/01/2025

60

Newcastle Permanent

BBB

1,107,568

1,100,723

BBSW + 112

0.55%

4/02/2020

4/02/2025

60

Macquarie Bank

A+

2,009,105

1,998,749

BBSW + 84

1.00%

12/02/2020

12/02/2025

60

BOQ Covered

AAA

555,772

552,473

BBSW + 107

0.28%

14/05/2020

14/05/2025

60

Credit Suisse

A+

1,304,092

1,294,338

BBSW + 115

0.64%

26/05/2020

26/05/2023

36

UBS

A+

1,493,347

1,499,336

BBSW + 87

0.75%

30/07/2020

30/07/2025

60

Bank of China Australia

A

1,496,800

1,501,475

BBSW + 78

0.75%

27/10/2020

27/10/2023

36

CBA

AA-

1,978,112

1,988,612

BBSW + 70

0.99%

14/01/2022

14/01/2027

60

Rabobank

A+

1,972,863

1,981,003

BBSW + 73

0.99%

27/01/2022

27/01/2027

60

Newcastle Permanent

BBB

982,606

974,805

BBSW + 100

0.49%

10/02/2022

10/02/2027

60

NAB

AA-

2,385,691

2,376,120

BBSW + 72

1.18%

25/02/2022

25/02/2027

60

Bendigo-Adelaide

BBB+

1,653,328

1,659,961

BBSW + 98

0.83%

17/03/2022

17/03/2025

36

ANZ

AA-

2,003,929

2,000,586

BBSW + 97

1.00%

12/05/2022

12/05/2027

60

NAB

AA-

1,711,629

1,705,101

BBSW + 90

0.85%

30/05/2022

30/05/2025

36

Suncorp

A+

904,366

901,527

BBSW + 93

0.45%

22/08/2022

22/08/2025

36

ANZ

AA-

0

2,530,145

BBSW + 120

1.26%

4/11/2022

4/11/2027

60

NAB

AA-

0

2,522,449

BBSW + 120

1.26%

25/11/2022

25/11/2027

60

Total Floating Rate Notes - Senior Debt

 

39,918,129

39,906,458

 

19.89%

 

 

 

Fixed Rate Bonds

 

 

 

 

 

 

 

 

ING Covered

AAA

660,829

661,753

1.10%

0.33%

19/08/2021

19/08/2026

60

Northern Territory Treasury

AA-

3,000,000

3,000,000

1.00%

1.49%

24/08/2021

16/12/2024

40

Northern Territory Treasury

AA-

3,000,000

3,000,000

1.50%

1.49%

24/08/2021

15/12/2026

64

BoQ

BBB+

1,684,398

1,705,674

2.10%

0.85%

27/10/2021

27/10/2026

60

Northern Territory Treasury

AA-

2,000,000

2,000,000

1.50%

1.00%

6/08/2021

15/12/2026

64

Northern Territory Treasury

AA-

1,000,000

1,000,000

1.50%

0.50%

14/07/2021

15/12/2026

65

Northern Territory Treasury

AA-

2,000,000

2,000,000

1.30%

1.00%

29/04/2021

15/06/2026

61

Northern Territory Treasury

AA-

2,000,000

2,000,000

1.00%

1.00%

30/11/2020

15/12/2025

60

Northern Territory Treasury

AA-

1,000,000

1,000,000

1.00%

0.50%

20/11/2020

15/12/2025

61

Northern Territory Treasury

AA-

2,000,000

2,000,000

1.00%

1.00%

21/10/2020

15/12/2025

62

Total Fixed Rate Bonds

 

18,345,227

18,367,427

1.30%

9.15%

 

 

 

Managed Funds

 

 

 

 

 

 

 

 

NSW Tcorp

NR

1,745,616

1,794,978

2.83%

0.89%

17/03/2014

1/11/2027

163

Total Managed Funds

 

1,745,616

1,794,978

2.83%

0.89%

 

 

 

TOTAL CASH ASSETS, CASH
EQUIVALENTS & INVESTMENTS

 

192,381,874

200,683,940

 

100.00%

 

 

 

LESS: RIVERINA REGIONAL LIBRARY (RRL) CASH AT BANK

 

2,809,847

2,781,719

 

 

 

 

 

TOTAL WWCC CASH ASSETS, CASH
EQUIVALENTS & INVESTMENTS

 

189,572,027

197,902,221

 

 

 

 

 


 

Council’s investment portfolio is dominated by Term Deposits, equating to approximately 51% of the portfolio across a broad range of counterparties. Cash equates to 19%, with Floating Rate Notes (FRNs) around 20%, fixed rate bonds around 9% and growth funds around 1% of the portfolio.

 

Chart, pie chart

Description automatically generated

 

Council’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 Authorised Deposit-Taking Institutions (ADIs) (being BBB- or higher), with a smaller allocation to unrated ADIs.

Chart, pie chart

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

 

Chart, bar chart

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Investment Portfolio Balance

 

Council’s investment portfolio balance has increased over the past month, up from $189.57M to $197.90M. This is reflective of the second rates instalment due date of 30 November 2022.

 

Table

Description automatically generated

 

Monthly Investment Movements

 

Redemptions/Sales – Council redeemed the following investment securities during November 2022:

 

Institution and Type

Amount

Investment

Term

Interest

Rate

Comments

P&N Bank (BBB) Term Deposit

$1M

4 years

3.30%

This term deposit was redeemed on maturity and funds were used to purchase a new 3-year AMP Bank term deposit (as below).

Bendigo Bank (BBB+) Term Deposit

$1M

4 years

3.25%

This term deposit was redeemed on maturity and funds were used to purchase a new 12-month AMP Bank term deposit (as below).

Westpac Bank (AA-) Floating Rate Note

$3M

5 years

BBSW +114bps

This floating rate note was sold prior to maturity and funds were used to purchase the new 5-yr NAB floating rate note (as below). Council recognised a capital gain of $22,140.

NAB (AA-) Floating Rate Note

$2M

5 years

BBSW +104bps

This floating rate note was sold prior to maturity and funds were used to purchase the new 5-yr ANZ floating rate note (as below). Council recognised a capital gain of $9,540.

 

New Investments – Council purchased the following investment securities during November 2022:

 

Institution and Type

Amount

Investment

Term

Interest

Rate