Agenda
and
Business Paper
To be held on
Monday 30
January 2023
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
Agenda
and
Business Paper
To be held on
Monday 30
January 2023
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.
WAGGA WAGGA CITY COUNCILLORS
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 30 January 2023.
Ordinary Meeting of Council AGENDA AND BUSINESS PAPER
Monday 30 January 2023
CLAUSE PRECIS PAGE
WELCOME TO COUNTRY 3
REFLECTION 3
APOLOGIES 3
Confirmation of Minutes
CM-1 ORDINARY COUNCIL MEETING - 12 DECEMBER 2022 3
DECLARATIONS OF INTEREST 3
Motions Of Which Due Notice Has Been Given
NOM-1 NOTICE OF MOTION – CALL FOR A RATING OPTION OR LEVY FOR THE WAGGA WAGGA CITY COUNCIL LOCAL GOVERNMENT AREA AIRBNB AND SHORT STAY RENTAL MARKET 4
Reports from Staff
RP-1 FINANCIAL PERFORMANCE REPORT AS AT 31 DECEMBER 2022 6
RP-2 REQUESTS FOR FINANCIAL ASSISTANCE 42
RP-3 QUESTIONS WITH NOTICE 49
RP-4 RESOLUTIONS AND NOTICES OF MOTIONS REGISTERS 51
Committee Minutes
M-1 CONFIRMATION OF MINUTES AUDIT, RISK AND IMPROVEMENT COMMITTEE - 1 DECEMBER 2022 53
M-2 FLOODPLAIN RISK MANAGEMENT ADVISORY COMMITTEE - 15 DECEMBER 2022 67
Confidential Reports
CONF-1 LEASE RENEWAL 36-40 GURWOOD STREET, WAGGA WAGGA 74
CONF-2 EXPRESSION OF INTEREST CAMPAIGN OUTCOME REPORT - TARCUTTA FOOD VAN SITE 75
CONF-3 RFT 2023-16 - PROVISION OF REAL ESTATE AGENCY SERVICES FOR RIFL SUBDIVISION - OUTCOME REPORT 76
CONF-4 SECTOR SUPPORT PROGRAM 77
CONF-5 RFT2023-08 LORD BADEN POWELL DRIVE DESIGN & CONSTRUCT 78
CONF-6 RFT2023-05 DUNNS ROAD, OLYMPIC HIGHWAY & HOLBROOK ROAD INTERESTIONS DESIGN AND CONTRUCT 79
CONF-7 LAKE ALBERT ROAD REHABILITATION - WARRAWONG STREET TO COPLAND STREET 80
Aunty Cheryl Penrith, Senior Wiradjuri Elder to perform the Welcome to Country.
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.
CM-1 ORDINARY COUNCIL MEETING - 12 DECEMBER 2022
|
That the Minutes of the proceedings of the Ordinary Council Meeting held on 12 December 2022 be confirmed as a true and accurate record.
|
|
1⇩. |
Minutes - 12 December 2022 |
81 |
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
NOM-1 |
Motions Of Which Due Notice Has Been Given
NOM-1 NOTICE OF MOTION – CALL FOR A RATING OPTION OR LEVY FOR THE WAGGA WAGGA CITY COUNCIL LOCAL GOVERNMENT AREA AIRBNB AND SHORT STAY RENTAL MARKET
Author: Councillor Richard Foley
|
Summary: |
Evaluation for a rating option or levy on all Airbnb and other short stay rental accommodation across the Wagga Wagga City Council Local Government Area (LGA).
Evaluation for establishment of an affordable housing trust. |
|
That Council: a prepares a report evaluating and exploring all available options for a rate variation or levy to be imposed upon any property within the Wagga Wagga City Council Local Government Area (LGA) that is being used primarily for unregulated short-term letting such as Airbnb and other similar short stay models, include best practices and/or viable alternatives used by other LGA’s across NSW and Australia in dealing with this issue, and b considers the impact of Airbnb and other short stay models has on distorting rental markets, affordability, and intensifying housing shortages, and c requests the General Manager writes to the owners of these properties making a formal request that Airbnb and short stay rental owners consider putting these homes onto the open local market to assist in alleviating the local housing crisis d evaluates an appropriate model for an affordable housing trust to be established by council in the near future. The purposes of such a trust would be the production of affordable housing to increase opportunities for working families and individuals to access decent affordable homes |
Report
The post COVID-19 era has seen a dramatic escalation in the housing crisis in Australia especially in the rental market. The hardest hit areas are found in regional Australia. Locally the rental market has become extremely tight with 1% of housing stock available for long term rent in the City of Wagga Wagga.
A recent analysis of Airbnb and other online platforms for short stay rental market, revealed more than 260+ houses which would ordinarily be on the local rental market. If these homes were to be rented out on the open market many local working people and their families now struggling to find a rental, could be housed long term.
Our local motels and hotels are highly regulated for fire risk and work, health and safety. Motels and hotels pay higher rates, whilst the short stay rental and Airbnb sector does not pay higher rates and do not have the same standards of compliance.
Despite the NSW Governments recent regulatory framework for Short-Term Rental Accommodation (STRA), all councils are tasked with compliance to the STRA framework. This is more cost shifting passed down by the State Government onto local councils. Why should council be paying for enforcing compliance of STRA regulations with no allocated funds granted by the state government?
The intent of this Notice of Motion is to explore a fair reasonable local regulatory framework in response to any negative effects Airbnb and other short stay rentals has in this city. Any funds collected would ideally become a source of seed capital to assist in the establishment of an affordable housing trust in the near future.
All homes constructed under an affordable housing trust structure would become assets built by local tradesman and suppliers and wholly owned by the ratepayers of the City of Wagga Wagga. The purposes of such a trust would be for the production of affordable housing to increase opportunities for working families and individuals to access decent affordable homes. This concept will also assist to fortify a base of ongoing construction work in the city to meet the continued growing demands for affordable accommodation.
Financial Implications
N/A
Policy and Legislation
Code of Meeting Practice
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
Internal / External Consultation
N/A
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
RP-1 |
RP-1 FINANCIAL PERFORMANCE REPORT AS AT 31 DECEMBER 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 31 December 2022. |
|
That Council: a approve the proposed 2022/23 budget variations for the month ended 31 December 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 of 31 December 2022 in accordance with section 625 of the Local Government Act 1993 e accept the grant funding offers as presented in this report |
Wagga Wagga City Council (Council) forecasts a balanced budget position as of 31 December 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 December when compared to budget ($278,050 up on the monthly budget). This is mainly due to better than budgeted returns on Council’s investment portfolio, as a result of the ongoing movement in the interest rate environment.
Key Performance Indicators
OPERATING INCOME
Total operating income is 52% of approved budget and is trending slightly above budget for the month of December 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 84% when compared to budget.
OPERATING EXPENSES
Total operating expenditure is 52% 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 as well as the commitment for multi-year software licences.
CAPITAL INCOME
Total capital income is 33% 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 40% of approved budget with some purchase
orders being raised for the full contract amounts for multi-year projects.
Excluding commitments, the total expenditure is 15% when compared to the
approved budget.
|
WAGGA WAGGA CITY COUNCIL |
|||||||
|
CONSOLIDATED STATEMENT |
|||||||
|
|
ORIGINAL |
BUDGET ADJ |
APPROVED BUDGET |
YTD ACTUAL EXCL COMMT'S 2022/23 |
COMMT'S 2022/23 |
YTD ACTUAL + COMMT'S |
YTD % OF BUD |
|
Income |
|
||||||
|
Rates & Annual Charges |
(75,524,168) |
0 |
(75,524,168) |
(37,716,308) |
0 |
(37,716,308) |
50% |
|
User Charges & Fees |
(27,844,136) |
(442,450) |
(28,286,586) |
(14,141,463) |
0 |
(14,141,463) |
50% |
|
Other Revenues |
(2,769,503) |
(202,000) |
(2,971,503) |
(1,534,027) |
0 |
(1,534,027) |
52% |
|
Operating Grants & Contributions |
(13,524,889) |
5,394,257 |
(8,130,631) |
(4,708,437) |
0 |
(4,708,437) |
58% |
|
Capital Grants & Contributions |
(36,295,253) |
(29,348,185) |
(65,643,438) |
(18,766,372) |
0 |
(18,766,372) |
29% |
|
Interest & Investment Income |
(1,828,128) |
0 |
(1,828,128) |
(2,542,489) |
0 |
(2,542,489) |
139% |
|
Other Income |
(1,406,222) |
(51,000) |
(1,457,222) |
(797,803) |
0 |
(797,803) |
55% |
|
Total Income |
(159,192,300) |
(24,649,378) |
(183,841,677) |
(80,206,899) |
0 |
(80,206,899) |
44% |
|
|
|||||||
|
Expenses |
|||||||
|
Employee Benefits & On-Costs |
51,315,412 |
445,000 |
51,760,412 |
22,647,741 |
0 |
22,647,741 |
44% |
|
Materials & Services |
36,542,674 |
8,175,678 |
44,718,352 |
21,111,616 |
6,736,239 |
27,847,855 |
62% |
|
Borrowing Costs |
3,268,989 |
0 |
3,268,989 |
1,456,501 |
0 |
1,456,501 |
45% |
|
Depreciation & Amortisation |
43,196,051 |
0 |
43,196,051 |
21,598,026 |
0 |
21,598,026 |
50% |
|
Other Expenses |
1,866,271 |
2,078,121 |
3,944,392 |
3,350,414 |
31,023 |
3,381,437 |
86% |
|
Total Expenses |
136,189,398 |
10,698,799 |
146,888,197 |
70,164,298 |
6,767,262 |
76,931,560 |
52% |
|
|
|||||||
|
Net Operating (Profit)/Loss |
(23,002,902) |
(13,950,578) |
(36,953,480) |
(10,042,601) |
6,767,262 |
(3,275,339) |
|
|
|
|||||||
|
Net Operating (Profit)/Loss before Capital Grants & Contributions |
13,292,351 |
15,397,607 |
28,689,958 |
8,723,771 |
6,767,262 |
15,491,033 |
|
|
|
|||||||
|
Cap/Reserve Movements |
|||||||
|
Capital Expenditure - One Off Confirmed |
13,596,521 |
58,708,933 |
81,890,161 |
11,094,194 |
27,910,159 |
39,004,352 |
48% |
|
Capital Expenditure - Recurrent |
18,890,352 |
8,238,710 |
27,129,062 |
3,832,588 |
2,515,117 |
6,347,705 |
23% |
|
Capital Expenditure - Pending Projects |
59,812,944 |
(46,311,530) |
3,916,707 |
0 |
0 |
0 |
0% |
|
Loan Repayments |
7,571,681 |
0 |
7,571,681 |
3,285,840 |
0 |
3,285,840 |
43% |
|
New Loan Borrowings |
(17,458,537) |
11,279,368 |
(6,179,168) |
0 |
0 |
0 |
0% |
|
Sale of Assets |
(880,181) |
(4,037,359) |
(4,917,540) |
(4,193,128) |
0 |
(4,193,128) |
85% |
|
Net Movements Reserves |
(15,333,827) |
(13,927,544) |
(29,261,371) |
0 |
0 |
0 |
0% |
|
Total Cap/Res Movements |
66,198,954 |
13,950,578 |
80,149,532 |
14,019,494 |
30,425,276 |
44,444,770 |
|
|
|
|||||||
|
Net Result after Depreciation |
43,196,052 |
0 |
43,196,052 |
3,976,893 |
37,192,537 |
41,169,430 |
|
|
|
|||||||
|
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 |
(14,021,461) |
37,192,537 |
23,171,076 |
|
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 |
96,404 |
|
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 |
514,841 |
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 December 2022 |
$0K $0K $0K |
|
Proposed Revised Budget result for 31 December 2022 - (Surplus) / Deficit |
$0K |
The proposed Operating and Capital Budget Variations for 31 December 2022 which affect the current 2022/23 financial year are listed below.
|
Budget Variation |
Amount |
Funding Source |
Net Impact (Fav)/ Unfav |
|
|
1 – Community Leadership and Collaboration |
||||
|
Civic Centre Security Doors |
$41K |
StateCover WHS Incentive Income ($30K) Buildings Reserve ($11K) |
Nil |
|
|
Council has received an additional $30K above the $100K budgeted for the StateCover Work Health and Safety Incentive. It is proposed to utilise the funds for additional security doors that are required within the Civic Centre due to a recent spike in incidents involving staff and vandalism. It is suggested that the security doors be installed between the public area foyer and Council meeting rooms, as well as at the bottom of the stairs across from the Customer Service desk. Job Consolidations: 22152 & 12611 |
|
|||
|
3 – Growing Economy |
||||
|
Australia Day Community Events 2023 Grant Program |
$30K |
National Australia Day Council ($30K) |
Nil |
|
|
Wagga Wagga City Council has been successful in its annual application to the Australia Day Community Events 2023 Grants program for $30K through the National Australia Day Council. Like previous years, this funding was allocated to the delivery of the 2023 Australia Day Community event which was held on 26 January 2023. These funds contributed toward the cost of entertainment, photography, advertising materials, and hire equipment/supplies. Estimated Completion: 31 January 2023 Job Consolidation: 21144 |
|
|||
|
4 – Community Place and Identity |
||||
|
Museum External Lighting, Security Access, Fencing, and Signage |
$87K |
Museum Existing Operational Budgets ($77K) Facilities Management Operational Budgets ($10K) |
Nil |
|
|
Funds are required for identified additional external lighting, security cameras and fencing, as well as new wayfinding signage for visitors to the Botanic Gardens Museum site. It is proposed to fund these items from one off existing Museum and Facilities Management operational budgets that have been identified for the completion of this stage of the Museum Capital Works Program. Estimated Completion: 30 June 2023 Job Consolidation: 18847 + 22144 |
|
|||
|
Digital Storytelling Project Grant |
$40K |
NSW Government 2022/23 Arts and Cultural Grant Funding Program ($40K) |
Nil |
|
|
The Museum of the Riverina has been granted funds under the NSW Government’s 2022/23 Arts and Cultural Funding Program – Organisations & Local Government Authorities (LGA) Round 1 toward a Digital Storytelling Project – Wagga Wagga Women’s Health Centre Collection. This project will see the digitisation of the Wagga Wagga Women’s Health Centre collection and will increase the accessibility of this collection to researchers and the general community. Estimated Completion: 30 June 2024 Job Consolidation: 22155 |
|
|||
|
Bird Island Eco Art Installation |
$30K |
Commonwealth Government Regional Arts Australia Grant Funding ($30K) |
Nil |
|
|
The Art Gallery has been granted funds to commission artist Hayden Fowler to develop an artwork which responds to bird and aquatic life of the Wollundry Lagoon. The project involves mentoring of a Wiradjuri artist and includes education and public programs all funded by the Commonwealth Government under the program Regional Arts Australia. Estimated Completion: 30 June 2023 Job Consolidation: 22141 |
|
|||
|
Precious Exhibition |
$10K |
Dobell Exhibition Grant Funding ($10K) |
Nil |
|
|
The Art Gallery has been granted funds to commission artist Sarah Goffman to create new artwork in response to selected glass artworks from the Gallery collection. This artwork will be included in an exhibition to be held in the Glass Gallery from 8 May – 12 November 2023. This project is funded by the Dobell Exhibition Grant and administered by Museums and Galleries NSW. Estimated Completion: 12 November 2023 Job Consolidation: 22145 |
|
|||
|
5 – The Environment |
||||
|
Uranquinty Levee Upgrade – Investigation & Design |
$112K |
Department of Planning & Environment Grant ($29K) Stormwater Levy Reserve ($83K) |
Nil |
|
|
Council has been successful in receiving additional grant funding of $29K from Department of Planning & Environment for the Uranquinty Levee Upgrade – Investigation and Design under the 2021/22 Floodplain Management Program 2021/FMP/0032. This requires a 50% co-contribution from Council of $14K, along with additional funding of $69K to complete the upgrade of the flood levee system for the protection of Uranquinty. The Council funding is proposed to be transferred from the Stormwater Levy Reserve. This will bring the total project budget to $292K. Estimated Completion: 31 May 2024 Job Consolidation: 21794 |
|
|||
|
Off-Street Carpark Renewal Program Central Wagga Laneway Renewal Program |
$32K
$23K |
Infrastructure Directorate Salary Savings ($55K) |
Nil |
|
|
Funds are required for the development of an off-street carpark renewal program and a renewal program for laneways in Central Wagga Wagga, that are both outstanding from the 2021/22 Operational Plan. The development of the programs was intended to be delivered utilising internal resources, however due to staff changes and subsequent limited internal resourcing, the programs were not delivered in the 2021/22 financial year. It is proposed to engage a consultant to develop the programs and fund the works from salary savings within the Infrastructure Directorate. Estimated Completion: 30 June 2023 – 31 December 2023 (any unspent funds at 30 June 2023 will be carried over for the completion of works in 2023/24) Job Consolidations: 22160 & 22161 |
|
|||
|
|
$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 Pending |
2022/23 Current Confirmed |
2022/23 Proposed Confirmed |
2023/24 Current Pending |
2023/24 Proposed Pending |
2023/24 Proposed Confirmed |
|
19565 |
Civic Theatre Replacement of Lighting Desk |
$0 |
$0 |
$65,000 |
$65,000 |
$0 |
$0 |
|
19566 |
Civic Theatre Replacement of Overhead Stage Lights |
$70,000 |
$0 |
$0 |
$0 |
$70,000 |
$0 |
|
15084 |
Farrer Road Upgrade |
$0 |
$68,436 |
$0 |
$0 |
$0 |
$68,436 |
|
18738 |
Glenfield Road Drainage Remediation |
$335,000 |
$101,536 |
$101,536 |
$1,000,047 |
$1,335,047 |
$0 |
|
19648 |
Gobbagombalin Nth – (Harris Road Park Embellishment) |
$0 |
$197,400 |
$98,700 |
$0 |
$0 |
$98,700 |
|
70168 |
GWMC Plant Shed |
$0 |
$2,375,940 |
$1,187,970 |
$0 |
$0 |
$1,187,970 |
|
50112 |
Tarcutta Sewer Treatment Works Renewal |
$248,994 |
$0 |
$73,994 |
$0 |
$0 |
$175,000 |
*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
|
Approved Budget |
Proposed Movement |
Proposed Budget |
|
|
One-off |
$81,890,161 |
($1,206,112) |
$80,684,049 |
|
Recurrent |
$26,984,061 |
$0 |
$26,984,061 |
|
Pending |
$3,916,707 |
($653,994) |
$3,262,713 |
|
Total Capital Works |
$112,790,929 |
($1,860,106) |
$110,930,823 |
Current Restrictions
|
RESERVES SUMMARY |
|||||
|
31 DECEMBER 2022 |
|||||
|
|
CLOSING BALANCE 2021/22 |
ADOPTED RESERVE TRANSFERS 2022/23 |
BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 12.12.2022 |
PROPOSED CHANGES for Council Resolution* |
BALANCE AS AT 31 DECEMBER 2022 |
|
|
|
|
|
|
|
|
Externally Restricted |
|
|
|
|
|
|
Developer Contributions - Section 7.11 |
(31,045,478) |
7,213,679 |
(7,372,900) |
|
(31,204,699) |
|
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 |
748,446 |
83,220 |
(4,282,842) |
|
Total Externally Restricted |
(111,460,179) |
14,846,399 |
(1,371,799) |
83,220 |
(97,902,359) |
|
|
|
|
|||
|
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) |
247,460 |
11,000 |
(853,832) |
|
CCTV |
(100,843) |
30,633 |
30,000 |
|
(40,211) |
|
Cemetery |
(882,761) |
(226,784) |
46,123 |
|
(1,063,421) |
|
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 12.12.2022 |
PROPOSED CHANGES for Council Resolution* |
BALANCE AS AT 31 DECEMBER 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) |
2,645,872 |
|
(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 |
(1,611,857) |
|
(2,378,032) |
|
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 |
19,568,862 |
11,000 |
(34,120,830) |
|
|
|
|
|
|
|
|
Total Restricted |
(165,555,941) |
15,241,469 |
18,197,062 |
94,220 |
(132,023,190) |
|
|
|
|
|
|
|
|
Total Unrestricted |
(11,494,000) |
0 |
0 |
0 |
(11,494,000) |
|
|
|
|
|
|
|
|
Total Cash, Cash Equivalents and Investments |
(177,049,941) |
15,241,469 |
18,197,062 |
94,220 |
(143,517,190) |
|
CONTRACTS REVIEW STATEMENT |
||||||
|
1 OCTOBER 2022 to 31 DECEMBER 2022 |
||||||
|
Contract Number |
Contractor |
Contract |
Contract |
Start |
Duration of |
Budgeted |
|
PD48503 |
Ixom Operations Pty Ltd |
Supply chemicals |
$ 117,810.00 |
7/10/2022 |
9 months |
Y |
|
PD48533 |
Omega Chemicals |
Supply chemicals |
$ 94,600.00 |
12/10/2022 |
9 months |
Y |
|
PD48534 |
Omega Chemicals |
Supply chemicals |
$ 63,800.00 |
12/10/2022 |
9 months |
Y |
|
PD48541 |
Ixom Operations Pty Ltd |
Supply chemicals |
$ 95,150.00 |
13/10/2022 |
9 months |
Y |
|
PD48599 |
Thomas Bros Group |
Supply vehicles |
$ 81,980.50 |
20/10/2022 |
12 weeks |
Y |
|
PD48741 |
Thomas Bros Group |
Supply vehicles |
$ 80,488.04 |
7/11/2022 |
6 months |
Y |
|
PD48840 |
Wagga Motors Pty Ltd |
Supply vehicles |
$ 58,076.00 |
18/11/2022 |
12 weeks |
Y |
|
PD49064 |
Wagga Motors Pty Ltd |
Supply vehicles |
$ 301,616.00 |
19/12/2022 |
12 months |
Y |
|
PE26016 |
Technology One |
Software Services |
$ 9,405.21 |
6/12/2022 |
12 months |
Y |
|
PE24807 |
Austraffic (NSW) Pty LTd |
Traffic counting services |
$ 90,904.00 |
4/10/2022 |
24 weeks |
Y |
|
PE26090 |
OCS Building Maintenance P/L |
Construction services |
$ 74,944.11 |
8/12/2022 |
12 weeks |
Y |
|
|
|
|
|
|
|
|
|
Notes: |
||||||
|
1. Minimum reporting level is 1% of estimated income from continuing operations or $50,000, whichever is the lesser. |
||||||
|
2. Contracts to be listed are those entered into during the quarter and have yet to be fully performed, excluding contractors that are on Council's Preferred Supplier list. |
||||||
|
3. Contracts for employment are not required to be included. |
||||||
|
4. Where a contract for services etc was not included in the budget, an explanation is to be given (or reference made to an explanation in another Budget Review Statement). |
||||||
|
CONSULTANCY & LEGAL EXPENSES BUDGET REVIEW STATEMENT* |
|||||||
|
31 DECEMBER 2022 |
|||||||
|
|
|
Approved Changes |
|
|
|
|
|
|
|
BUDGET 2022/23 |
SEPTEMBER QTR BUDGET VARIATIONS APPROVED TO DATE |
DECEMBER QTR BUDGET VARIATIONS APPROVED TO DATE |
REVISED BUDGET |
PROJECTED YEAR END RESULT |
ACTUAL |
|
|
|
|
||||||
|
Consultancy Expenses |
128,427 |
30,000 |
59,152 |
217,579 |
217,579 |
143,284 |
|
|
|
|
||||||
|
Legal Expenses |
246,354 |
44,183 |
22,264 |
312,801 |
312,801 |
313,091 |
|
|
|
|
|
|
|
|
|
|
*Please note that this
table only includes expenses costed to the relevant consultancy and legals
types in the finance ledger.
Investment Summary as at 31 December 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 |
Closing
Balance |
December |
December |
Investment |
Maturity |
Term |
|
At Call Accounts |
|
|
|
|
|
|
|
|
|
NAB |
AA- |
1,313,255 |
168,396 |
3.10% |
0.09% |
N/A |
N/A |
N/A |
|
CBA |
AA- |
10,205,404 |
5,311,262 |
3.10% |
2.71% |
N/A |
N/A |
N/A |
|
CBA |
AA- |
17,954,985 |
17,997,658 |
3.15% |
9.17% |
N/A |
N/A |
N/A |
|
Macquarie Bank |
A+ |
9,141,433 |
9,164,114 |
3.10% |
4.67% |
N/A |
N/A |
N/A |
|
Total At Call Accounts |
|
38,615,077 |
32,641,431 |
3.13% |
16.63% |
|
|
|
|
Short Term Deposits |
|
|
|
|
|
|
|
|
|
CBA |
AA- |
2,000,000 |
2,000,000 |
2.22% |
1.02% |
20/04/2022 |
20/04/2023 |
12 |
|
CBA |
AA- |
2,000,000 |
2,000,000 |
3.68% |
1.02% |
8/06/2022 |
8/06/2023 |
12 |
|
AMP |
BBB |
1,000,000 |
1,000,000 |
4.70% |
0.51% |
15/11/2022 |
15/11/2023 |
12 |
|
AMP |
BBB |
2,000,000 |
2,000,000 |
4.55% |
1.02% |
30/11/2022 |
30/11/2023 |
12 |
|
Total Short Term Deposits |
|
7,000,000 |
7,000,000 |
3.66% |
3.57% |
|
|
|
|
Medium Term Deposits |
|
|
|
|
|
|
|
|
|
BOQ |
BBB+ |
2,000,000 |
2,000,000 |
1.20% |
1.02% |
4/01/2022 |
4/01/2024 |
24 |
|
BOQ |
BBB+ |
1,000,000 |
1,000,000 |
3.78% |
0.51% |
1/06/2022 |
3/06/2024 |
24 |
|
Westpac |
AA- |
2,000,000 |
2,000,000 |
1.32% |
1.02% |
28/06/2021 |
29/06/2026 |
60 |
|
Westpac |
AA- |
2,000,000 |
2,000,000 |
1.80% |
1.02% |
15/11/2021 |
17/11/2025 |
48 |
|
BoQ |
BBB+ |
1,000,000 |
1,000,000 |
2.15% |
0.51% |
8/07/2019 |
10/07/2023 |
48 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
2.03% |
1.02% |
6/11/2019 |
6/11/2024 |
60 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.83% |
1.02% |
28/11/2019 |
28/11/2024 |
60 |
|
Judo Bank |
BBB- |
1,000,000 |
1,000,000 |
1.30% |
0.51% |
3/12/2021 |
4/12/2023 |
24 |
|
ICBC |
A |
1,000,000 |
1,000,000 |
1.75% |
0.51% |
6/01/2020 |
8/01/2024 |
48 |
|
BOQ |
BBB+ |
1,000,000 |
1,000,000 |
2.00% |
0.51% |
28/02/2020 |
28/02/2025 |
60 |
|
Police Credit Union |
NR |
1,000,000 |
1,000,000 |
2.20% |
0.51% |
1/04/2020 |
1/04/2025 |
60 |
|
ICBC |
A |
1,000,000 |
1,000,000 |
1.85% |
0.51% |
29/05/2020 |
29/05/2025 |
60 |
|
ICBC |
A |
1,000,000 |
1,000,000 |
1.86% |
0.51% |
1/06/2020 |
2/06/2025 |
60 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.75% |
1.02% |
25/06/2020 |
25/06/2025 |
60 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.75% |
1.02% |
25/06/2020 |
25/06/2025 |
60 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.60% |
1.02% |
29/06/2020 |
28/06/2024 |
48 |
|
ICBC |
A |
3,000,000 |
3,000,000 |
5.07% |
1.53% |
30/06/2022 |
30/06/2027 |
60 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.42% |
1.02% |
7/07/2020 |
8/07/2024 |
48 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
1.50% |
1.02% |
17/08/2020 |
18/08/2025 |
60 |
|
BoQ |
BBB+ |
1,000,000 |
1,000,000 |
1.25% |
0.51% |
7/09/2020 |
8/09/2025 |
60 |
|
BoQ |
BBB+ |
2,000,000 |
2,000,000 |
1.25% |
1.02% |
14/09/2020 |
15/09/2025 |
60 |
|
NAB |
AA- |
1,000,000 |
1,000,000 |
0.60% |
0.51% |
14/09/2021 |
14/09/2023 |
24 |
|
AMP |
BBB |
1,000,000 |
1,000,000 |
3.30% |
0.51% |
25/05/2022 |
27/11/2023 |
18 |
|
ICBC |
A |
1,000,000 |
1,000,000 |
1.20% |
0.51% |
7/12/2020 |
8/12/2025 |
60 |
|
Warwick CU |
NR |
1,000,000 |
1,000,000 |
0.75% |
0.51% |
29/01/2021 |
30/01/2023 |
24 |
|
NAB |
AA- |
2,000,000 |
2,000,000 |
0.95% |
1.02% |
29/01/2021 |
29/01/2026 |
60 |
|
NAB |
AA- |
1,000,000 |
1,000,000 |
1.08% |
0.51% |
22/02/2021 |
20/02/2026 |
60 |
|
NAB |
AA- |
2,000,000 |
2,000,000 |
1.25% |
1.02% |
3/03/2021 |
2/03/2026 |
60 |
|
Summerland CU |
NR |
1,000,000 |
1,000,000 |
0.75% |
0.51% |
29/04/2021 |
28/04/2023 |
24 |
|
NAB |
AA- |
2,000,000 |
2,000,000 |
1.40% |
1.02% |
21/06/2021 |
19/06/2026 |
60 |
|
NAB |
AA- |
2,000,000 |
2,000,000 |
0.65% |
1.02% |
25/06/2021 |
26/06/2023 |
24 |
|
Westpac |
AA- |
2,000,000 |
2,000,000 |
1.32% |
1.02% |
25/06/2021 |
25/06/2026 |
60 |
|
ICBC |
A |
1,000,000 |
1,000,000 |
1.32% |
0.51% |
25/08/2021 |
25/08/2026 |
60 |
|
NAB |
AA- |
2,000,000 |
2,000,000 |
0.65% |
1.02% |
31/08/2021 |
31/08/2023 |
24 |
|
AMP |
BBB |
2,000,000 |
2,000,000 |
1.00% |
1.02% |
18/10/2021 |
17/10/2024 |
36 |
|
Westpac |
AA- |
2,000,000 |
2,000,000 |
1.56% |
1.02% |
30/11/2021 |
29/11/2024 |
36 |
|
Westpac |
AA- |
2,000,000 |
2,000,000 |
2.00% |
1.02% |
8/02/2022 |
10/02/2025 |
36 |
|
P&N Bank |
BBB |
2,000,000 |
2,000,000 |
2.40% |
1.02% |
9/03/2022 |
10/03/2025 |
36 |
|
P&N Bank |
BBB |
2,000,000 |
2,000,000 |
2.00% |
1.02% |
10/03/2022 |
11/03/2024 |
24 |
|
MyState |
BBB |
2,000,000 |
2,000,000 |
2.20% |
1.02% |
2/03/2022 |
3/03/2025 |
36 |
|
CBA |
AA- |
2,000,000 |
2,000,000 |
3.28% |
1.02% |
26/04/2022 |
26/04/2024 |
24 |
|
CBA |
AA- |
2,000,000 |
2,000,000 |
3.78% |
1.02% |
4/05/2022 |
6/05/2024 |
24 |
|
CBA |
AA- |
2,000,000 |
2,000,000 |
3.99% |
1.02% |
4/05/2022 |
5/05/2025 |
36 |
|
ING Bank |
A |
1,000,000 |
1,000,000 |
3.76% |
0.51% |
23/05/2022 |
23/05/2024 |
24 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
3.95% |
1.02% |
6/06/2022 |
6/06/2024 |
24 |
|
Australian Unity |
BBB+ |
2,000,000 |
2,000,000 |
4.15% |
1.02% |
8/06/2022 |
11/06/2024 |
24 |
|
Suncorp |
A+ |
2,000,000 |
2,000,000 |
4.40% |
1.02% |
22/06/2022 |
14/12/2023 |
18 |
|
MyState |
BBB |
2,000,000 |
2,000,000 |
4.45% |
1.02% |
29/06/2022 |
28/06/2024 |
24 |
|
BoQ |
BBB+ |
1,000,000 |
1,000,000 |
4.50% |
0.51% |
7/07/2022 |
7/07/2025 |
36 |
|
CBA |
AA- |
1,000,000 |
1,000,000 |
4.25% |
0.51% |
12/08/2022 |
12/08/2025 |
36 |
|
P&N Bank |
BBB |
3,000,000 |
3,000,000 |
4.55% |
1.53% |
29/08/2022 |
29/08/2025 |
36 |
|
Australian Military Bank |
BBB+ |
2,000,000 |
2,000,000 |
4.55% |
1.02% |
2/09/2022 |
2/09/2025 |
36 |
|
P&N Bank |
BBB |
1,000,000 |
1,000,000 |
4.40% |
0.51% |
9/09/2022 |
9/09/2025 |
36 |
|
BoQ |
BBB+ |
1,000,000 |
1,000,000 |
4.70% |
0.51% |
4/10/2022 |
4/10/2024 |
24 |
|
AMP |
BBB |
2,000,000 |
2,000,000 |
4.95% |
1.02% |
21/10/2022 |
21/10/2024 |
24 |
|
ICBC |
A |
2,000,000 |
2,000,000 |
5.20% |
1.02% |
21/10/2022 |
21/10/2025 |
36 |
|
AMP |
BBB |
1,000,000 |
1,000,000 |
4.75% |
0.51% |
15/11/2022 |
14/11/2024 |
24 |
|
AMP |
BBB |
1,000,000 |
1,000,000 |
4.80% |
0.51% |
21/11/2022 |
20/11/2025 |
36 |
|
P&N Bank |
BBB |
0 |
2,000,000 |
4.75% |
1.02% |
16/12/2022 |
16/12/2024 |
24 |
|
Total Medium Term Deposits |
|
95,000,000 |
97,000,000 |
2.60% |
49.41% |
|
|
|
|
Floating Rate Notes - Senior Debt |
|
|
|
|
|
|
|
|
|
Westpac |
AA- |
2,513,164 |
2,520,970 |
BBSW + 88 |
1.28% |
16/05/2019 |
16/08/2024 |
63 |
|
Suncorp |
A+ |
1,254,186 |
1,257,925 |
BBSW + 78 |
0.64% |
30/07/2019 |
30/07/2024 |
60 |
|
ANZ |
AA- |
2,004,667 |
2,009,999 |
BBSW + 77 |
1.02% |
29/08/2019 |
29/08/2024 |
60 |
|
HSBC |
AA- |
2,515,587 |
2,499,702 |
BBSW + 83 |
1.27% |
27/09/2019 |
27/09/2024 |
60 |
|
Bank Australia |
BBB |
1,512,316 |
0 |
0.00% |
0.00% |
2/12/2019 |
2/12/2022 |
36 |
|
ANZ |
AA- |
1,508,511 |
1,513,031 |
BBSW + 76 |
0.77% |
16/01/2020 |
16/01/2025 |
60 |
|
NAB |
AA- |
2,010,625 |
2,016,784 |
BBSW + 77 |
1.03% |
21/01/2020 |
21/01/2025 |
60 |
|
Newcastle Permanent |
BBB |
1,100,723 |
1,104,393 |
BBSW + 112 |
0.56% |
4/02/2020 |
4/02/2025 |
60 |
|
Macquarie Bank |
A+ |
1,998,749 |
2,006,127 |
BBSW + 84 |
1.02% |
12/02/2020 |
12/02/2025 |
60 |
|
BOQ Covered |
AAA |
552,473 |
554,614 |
BBSW + 107 |
0.28% |
14/05/2020 |
14/05/2025 |
60 |
|
Credit Suisse |
A+ |
1,294,338 |
1,296,858 |
BBSW + 115 |
0.66% |
26/05/2020 |
26/05/2023 |
36 |
|
UBS |
A+ |
1,499,336 |
1,504,665 |
BBSW + 87 |
0.77% |
30/07/2020 |
30/07/2025 |
60 |
|
Bank of China Australia |
A |
1,501,475 |
1,505,698 |
BBSW + 78 |
0.77% |
27/10/2020 |
27/10/2023 |
36 |
|
CBA |
AA- |
1,988,612 |
1,994,254 |
BBSW + 70 |
1.02% |
14/01/2022 |
14/01/2027 |
60 |
|
Rabobank |
A+ |
1,981,003 |
1,990,707 |
BBSW + 73 |
1.01% |
27/01/2022 |
27/01/2027 |
60 |
|
Newcastle Permanent |
BBB |
974,805 |
979,483 |
BBSW + 100 |
0.50% |
10/02/2022 |
10/02/2027 |
60 |
|
NAB |
AA- |
2,376,120 |
2,383,343 |
BBSW + 72 |
1.21% |
25/02/2022 |
25/02/2027 |
60 |
|
Bendigo-Adelaide |
BBB+ |
1,659,961 |
1,650,894 |
BBSW + 98 |
0.84% |
17/03/2022 |
17/03/2025 |
36 |
|
ANZ |
AA- |
2,000,586 |
2,008,927 |
BBSW + 97 |
1.02% |
12/05/2022 |
12/05/2027 |
60 |
|
NAB |
AA- |
1,705,101 |
1,711,195 |
BBSW + 90 |
0.87% |
30/05/2022 |
30/05/2025 |
36 |
|
Suncorp |
A+ |
901,527 |
904,609 |
BBSW + 93 |
0.46% |
22/08/2022 |
22/08/2025 |
36 |
|
ANZ |
AA- |
2,530,145 |
2,537,889 |
BBSW + 120 |
1.29% |
4/11/2022 |
4/11/2027 |
60 |
|
NAB |
AA- |
2,522,449 |
2,530,202 |
BBSW + 120 |
1.29% |
25/11/2022 |
25/11/2027 |
60 |
|
Suncorp |
A+ |
0 |
1,106,366 |
BBSW + 125 |
0.56% |
14/12/2022 |
14/12/2027 |
60 |
|
Total Floating Rate Notes - Senior Debt |
|
39,906,458 |
39,588,636 |
|
20.17% |
|
|
|
|
Fixed Rate Bonds |
|
|
|
|
|
|
|
|
|
ING Covered |
AAA |
661,753 |
657,555 |
1.10% |
0.33% |
19/08/2021 |
19/08/2026 |
60 |
|
Northern Territory Treasury |
AA- |
3,000,000 |
3,000,000 |
1.00% |
1.53% |
24/08/2021 |
16/12/2024 |
40 |
|
Northern Territory Treasury |
AA- |
3,000,000 |
3,000,000 |
1.50% |
1.53% |
24/08/2021 |
15/12/2026 |
64 |
|
BoQ |
BBB+ |
1,705,674 |
1,692,716 |
2.10% |
0.86% |
27/10/2021 |
27/10/2026 |
60 |
|
Northern Territory Treasury |
AA- |
2,000,000 |
2,000,000 |
1.50% |
1.02% |
6/08/2021 |
15/12/2026 |
64 |
|
Northern Territory Treasury |
AA- |
1,000,000 |
1,000,000 |
1.50% |
0.51% |
14/07/2021 |
15/12/2026 |
65 |
|
Northern Territory Treasury |
AA- |
2,000,000 |
2,000,000 |
1.30% |
1.02% |
29/04/2021 |
15/06/2026 |
61 |
|
Northern Territory Treasury |
AA- |
2,000,000 |
2,000,000 |
1.00% |
1.02% |
30/11/2020 |
15/12/2025 |
60 |
|
Northern Territory Treasury |
AA- |
1,000,000 |
1,000,000 |
1.00% |
0.51% |
20/11/2020 |
15/12/2025 |
61 |
|
Northern Territory Treasury |
AA- |
2,000,000 |
2,000,000 |
1.00% |
1.02% |
21/10/2020 |
15/12/2025 |
62 |
|
Total Fixed Rate Bonds |
|
18,367,427 |
18,350,271 |
1.30% |
9.35% |
|
|
|
|
Managed Funds |
|
|
|
|
|
|
|
|
|
NSW Tcorp |
NR |
1,794,978 |
1,740,050 |
-3.06% |
0.89% |
17/03/2014 |
1/12/2027 |
164 |
|
Total Managed Funds |
|
1,794,978 |
1,740,050 |
-3.06% |
0.89% |
|
|
|
|
TOTAL CASH ASSETS, CASH |
|
200,683,940 |
196,320,388 |
|
100.00% |
|
|
|
|
LESS: RIVERINA REGIONAL LIBRARY (RRL) CASH AT BANK |
|
2,781,719 |
2,743,792 |
|
|
|
|
|
|
TOTAL WWCC CASH ASSETS, CASH |
|
197,902,221 |
193,576,595 |
|
|
|
|
|
Council’s investment portfolio is dominated by Term Deposits, equating to approximately 53% of the portfolio across a broad range of counterparties. Cash equates to 17%, with Floating Rate Notes (FRNs) around 20%, fixed rate bonds around 9% and growth funds around 1% of the portfolio.
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.
All investments are within the defined Policy limits, as outlined in the Rating Allocation chart below:
Investment Portfolio Balance
Council’s investment portfolio balance has decreased over the past month, down from $197.90M to $193.58M.
Monthly Investment Movements
Redemptions/Sales – Council redeemed the following investment security during December 2022:
|
Institution and Type |
Amount |
Investment Term |
Interest Rate |
Comments |
|
Bank Australia (BBB) Floating Rate Note |
$1.5M |
3 years |
BBSW +90bps |
This floating rate note was redeemed on maturity. |
New Investments – Council purchased the following investment securities during December 2022:
|
Institution and Type |
Amount |
Investment Term |
Interest Rate |
Comments |
|
P&N Bank (BBB) Term Deposit |
$2M |
2 years |
4.75% |
The P&N Bank rate of 4.75% compared favourably to the rest of the market for this term. The next best rate for this term was 4.65%. |
|
Suncorp Bank (A+) Floating Rate Note |
$1.1M |
5 years |
BBSW +125bps |
Council’s independent Investment Advisor advised this Floating Rate Note represented good value with a potential grossed-up value of +140-150bps after 3-4 years. |
Rollovers – Council did not rollover any investment securities during December 2022.
Monthly Investment Performance
Interest/growth/capital gains/(losses) for the month totalled $410,001, which compares favourably with the budget for the period of $131,951 - outperforming budget for the month by $278,050.
Council’s outperformance to budget for December is mainly due to better than budgeted returns on Councils investment portfolio. This is a result of the ongoing movements in the cash rate made by the Reserve Bank of Australia, with the latest increase in early December 2022 bringing the cash rate to 3.10% from a record low of 0.10% in April 2022.
Council experienced a negative return on its NSW T-Corp Managed Fund for the month of December, with the fund returning -3.06% (or -$54,928) as international (-4.39%) and domestic (-3.21%) markets were impacted by investors selling off shares during the month. Despite the volatility in the fund over the past few years, this managed fund remains Council’s best performing investment over the longer term.
Council staff will continue to review the impacts of the interest rate movements against budget over the coming months, leading up to the scheduled 2023/24 Long Term Financial Plan budget workshops. In reviewing estimated interest revenue, consideration of interest expense for future loan borrowings also needs to occur.
Over the past year, Council’s investment portfolio has returned 1.84%, outperforming the AusBond Bank Bill index by 0.59%.
* 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.
Report by Responsible Accounting Officer
I hereby certify that all of the above investments have been made in accordance with the provision of Section 625 of the Local Government Act 1993 and the regulations there under, and in accordance with the Investment Policy adopted by Council on 21 November 2022.
Carolyn Rodney
Responsible Accounting Officer
Policy and Legislation
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.
Local Government Act 1993
Section 625 - How may councils invest?
Local Government (General) Regulation 2021
Section 212 - Reports on council investments
Link to Strategic Plan
Community Leadership and Collaboration
Objective: We have strong leadership
Outcome: We are accountable and transparent
Risk Management Issues for Council
This report is a control mechanism that assists in addressing the following potential risks to Council:
· Loss of investment income or capital resulting from ongoing management of investments, especially during difficult economic times
· Failure to demonstrate to the community that its funds are being expended in an efficient and effective manner
Internal / External Consultation
All relevant areas within Council have consulted with the Finance Division in relation to the budget variations listed in this report.
The Finance Division has consulted with relevant external parties to confirm Council’s investment portfolio balances.
|
1⇩. |
Capital Works Program 2022/23 to 2032/33 |
|
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
RP-2 |
RP-2 REQUESTS FOR FINANCIAL ASSISTANCE
Author: Carolyn Rodney
|
Summary: |
Council has received one (1) fee waiver request which is detailed for Council’s consideration. |
|
That Council: a in accordance with Section 356 of the Local Government Act 1993, provide financial assistance of $685.00 to the Palliative Care Enhancement Council b note the proposed budget available for financial assistance requests for the remainder of the 2022/23 financial year |
Report
One financial assistance request is proposed for consideration at this Ordinary Council meeting. Details of the request are shown below:
Palliative Care Enhancement Council - $685.00
Kay Hull AO on behalf of the Palliative Care Enhancement Council in the attached request states:
Dear Mr Thompson,
On Tuesday, 16 May 2023, the Palliative Care Enhancement Council will hold a community information evening to assist those who have been diagnosed with a terminal illness, their families, and those involved in their care, at the Civic Theatre.
The Forum is a free-ticketed event and will be held in the evening. Hosted by a MC, a number of speakers will cover a range of topics including accounting and legal advice (including wills), managing terminal illness, palliative care at home, emergency department management, hospice options and more. The Forum will conclude with a Q&A session. After the Forum, a light supper will be served and attendees will be provided the opportunity to mingle with one another, as well as access further information at a number of information stands.
Those affected by a terminal diagnosis can find the process of accessing services, support or simply getting information overwhelming and extremely difficult. It is the aim of the Council to provide this critical information to the public by holding an open information evening. On behalf of the Palliative Care Enhancement Council, I write to you to request that the hire fee for the Civic Theatre ($685.00 including GST) be waived. Our Council (made up of volunteers from the community) are committed to ensuring that those in both public and private systems are aware of all that is available to them in relation to palliative care to ensure they access these valuable services. The Palliative Care Enhancement Council was formed when it became evident that the planning of a palliative wing at the new Wagga Wagga Base Hospital had been dropped.
The Council members work to raise funds and monitor the use of funds raised or donated to enhance the care and comfort of palliative patients, their families and carers.
This Forum will be paid for using raised or donated money so the waiver will ensure more money is directed into enhanced care for the terminally ill. We have not run a Forum since before the COVID-19 pandemic and there is a critical need to ensure palliative patients and their families have all the most up-to-date information at their hands to make their journey into palliative care as smooth as possible.
The request above aligns with Council’s Strategic Plan “Safe and Healthy Community” - Objective: “Our community has access to health and support services that cater for all of our needs”.
Financial Implications
|
Section 356 Budget Summary |
|
|
2022/23 Opening Budget* |
$43,528.00 |
|
Total of fee waivers approved to date |
($13,185.03) |
|
Revised Balance of Section 356 fee waiver financial assistance |
$30,612.97 |
|
1) Palliative Care Enhancement Council |
($685.00) |
|
Subtotal Fee Waivers included in this report proposed to be funded from the Section 356 Budget |
($685.00) |
|
Proposed Balance of Section 356 fee waiver financial assistance budget for the remainder of the 2022/23 Financial Year |
$29,927.97 |
Policy and Legislation
Financial Assistance Policy (POL 078)
Link to Strategic Plan
Safe and Healthy Community
Objective: Our community has access to health and support services that cater for all of our needs
Support and continue to develop services to improve and promote community health and wellbeing
Risk Management Issues for Council
N/A
Internal / External Consultation
Cross Directorate consultation has been undertaken as required.
|
1⇩. |
Section 356 Letter Request - Palliative Care Enhancement Council |
|
|
2⇩. |
Section 356 Email additional information - Palliative Care Enhancement Council |
|
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
RP-3 |
Author: Scott Gray
|
Summary: |
This report is to list questions with notice raised by Councillors in accordance with Council’s Code of Meeting Practice. |
|
That Council receive and note the report. |
Report
The following questions with notice were received prior to the meeting, in accordance with the Code of Meeting Practice.
|
Do we have usage stats for the shared spaces at Estella Public School? |
|
A reply will be supplied at the next Council Meeting when Schools return from holidays. |
|
Council received a response from Premier Perrottet on 10 August. The response received stated that:
“the gifting and selling of property is managed by the relevant Department in accordance with Treasury guidelines. Therefore as the matter you have raised falls under the primary responsibility of the Hon Brad Hazzard MP, Minister for Health, I have forwarded a copy of your correspondence to the Minister as he is best placed to consider your enquiry.”
In response to the letter from the Premier on 10 August 2022, the Mayor sent a follow up letter on 29 August 2022 specifically requesting the Premier respond. No further response has been received to date. |
Financial Implications
N/A
Policy and Legislation
Code of Meeting Practice
Link to Strategic Plan
Community leadership and collaboration
Objective: Our community is informed and actively engaged in decision making and problem-solving to shape the future of Wagga Wagga
Ensure our community feels heard and understood
Risk Management Issues for Council
N/A
Internal / External Consultation
N/A
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
RP-4 |
RP-4 RESOLUTIONS AND NOTICES OF MOTIONS REGISTERS
Author: Ingrid Hensley
General Manager: Peter Thompson
|
Summary: |
This report provides Councillors with an update on the status of all resolutions of Council including Notices of Motion. |
|
That Council receive and note the following registers: a Active Resolutions as at 24 January 2023 b Active Notice of Motions as at 24 January 2023 c Resolutions including Notice of Motions completed from 16 November 2022 to 24 January 2023 |
Report
The attached registers, outline details of each resolution with the following analysis provided as a snapshot as at 24 January 2023:
· 94 active resolutions
· 15 active Notices of Motions
· 20 resolutions including Notice of Motions have been completed from 16 November 2022 to 24 January 2023
Financial Implications
N/A
Policy and Legislation
Council’s Code of Meeting Practice
Link to Strategic Plan
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
Risk Management Issues for Council
N/A
Internal / External Consultation
N/A
Attachments
|
1. |
Completed from 16 November 2022 to 24 January 2023 - Provided under separate cover |
|
|
2. |
Active Notice of Motions as at 24 January 2023 - Provided under separate cover |
|
|
3. |
Active Resolutions as at 24 January 2023 - Provided under separate cover |
|
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
M-1 |
M-1 CONFIRMATION OF MINUTES AUDIT, RISK AND IMPROVEMENT COMMITTEE - 1 DECEMBER 2022
Author: Ingrid Hensley
General Manager: Peter Thompson
|
Summary: |
The Audit, Risk and Improvement Committee (ARIC) is an advisory committee of Council. This Report seeks that Council endorse the recommendations made by the Committee at the meeting on 1 December 2022.
Those recommendations relate to the role of the Committee in providing independent assurance and assistance to Council on financial reporting, risk management, internal controls, governance, and internal and external audit and accountability responsibilities. |
|
That Council endorse the recommendations contained in the minutes of the Audit, Risk and Improvement Committee Meeting held on 1 December 2022.
|
Report
The minutes of the Audit, Risk and Improvement Committee Meeting held on 1 December 2022 are presented to Council for adoption.
Financial Implications
Council has granted certain authorities to the Audit, Risk and Improvement Committee within the scope of its role and responsibilities, as defined within its Charter. As an advisory committee to Council, the Audit, Risk and Improvement Committee has no authority to action items that may have a budget and/or resource implication outside of this authority unless Council resolves to adopt the recommendations. At the meeting on 1 December 2022 the Committee received and noted the NSW Audit Office Management Letter on the Final Phase of the Audit for the year ended 30 June 2022.
Policy and Legislation
Audit, Risk and Improvement Committee Charter
Link to Strategic Plan
Community leadership and collaboration
Objective: Wagga Wagga City Council leads through engaged civic governance and is recognised and distinguished by its ethical decision-making, efficient management, innovation and quality customer service
Ensure transparency and accountability
Risk Management Issues for Council
The NSW Audit Office provided an overview of the high-risk items identified in the NSW Audit Office Management Letter on the Final Phase of the Audit for the year ended 30 June 2022.
Internal / External Consultation
The ARIC Chairperson Report was distributed to Councillors on 16 December 2022.
|
1⇩. |
Audit, Risk and Improvement Committee Meeting Minutes 1 December 2023 |
|
|
Report submitted to the Ordinary Meeting of Council on Monday 30 January 2023 |
M-2 |
M-2 FLOODPLAIN RISK MANAGEMENT ADVISORY COMMITTEE - 15 DECEMBER 2022
Author: Phil McMurray
|
Summary: |
The Floodplain Risk Management Advisory Committee (FRMAC) is an advisory committee of Council. This Report seeks that Council endorse the recommendations made by the Committee at its meeting held on 15 December 2022. |
|
That Council: a receive the minutes of the Floodplain Risk Management Advisory Committee Meeting held on 15 December 2022 b write to the NSW Government requesting that it assigns a NSW Government agency the role of identifying and implementing a long term strategy and arrangements for large scale community sheltering facilities and necessary services in the event of a natural disaster or large scale emergency in the Wagga Wagga region c write to the National Emergency Management Agency forwarding a copy of the correspondence issued in (b), requesting its support for the initiative |
Report
The Minutes of the Floodplain Risk Management Advisory Committee Meeting held on 15 December 2022 are presented to Council for consideration of recommendations below.
The Committee received reports in relation to:
· Project update for the calendar year, including financial implications
· 2023 Meeting Schedule
· Land Use Planning, Zoning and Strategic Planning for Flood related evacuation and recovery management within the Wagga Wagga Local Government Area
The Committee in considering land use planning, zoning and strategic planning for flood related evacuation and recovery management within the wagga wagga local government area, recommends that Council write to:
· the NSW Government requesting that it assigns an NSW government agency the role of identifying and implementing a long-term strategy and arrangements for large scale community sheltering facilities and necessary services in the event of a natural disaster or large-scale emergency in the Wagga region and
· the National Emergency Management Agency forwarding a copy of the correspondence issued as above and requesting its support for the initiative
Financial Implications
N/A
Policy and Legislation
The outcomes from the various studies will be critical in the terms of future amendments to the Council Local Environmental Plan and its Development Control Plan.
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
No specific issues identified.
Internal / External Consultation
NSW Department of Planning and Environment (DPIE) (previously the Office of Environment and Heritage) has been heavily consulted throughout the process of planning and executing these projects. DPIE is the responsible funding body and receives quarterly status update reports.
|
1⇩. |
FRMAC Minutes - 15 December 2022 |
|
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-1 |
CONF-1 LEASE RENEWAL 36-40 GURWOOD STREET, WAGGA WAGGA
Author: Fiona Hamilton
Executive: John Sidgwick
This report is CONFIDENTIAL in accordance with Section 10A(2) of the Local Government Act 1993, which permits the meeting to be closed to the public for business relating to the following: -
(d) (i) commercial information of a confidential nature that would, if disclosed, prejudice the commercial position of the person who supplied it.
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-2 |
CONF-2 EXPRESSION OF INTEREST CAMPAIGN OUTCOME REPORT - TARCUTTA FOOD VAN SITE
Author: Matthew Dombrovski
Executive: John Sidgwick
This report is CONFIDENTIAL in accordance with Section 10A(2) of the Local Government Act 1993, which permits the meeting to be closed to the public for business relating to the following: -
(d) (i) commercial information of a confidential nature that would, if disclosed, prejudice the commercial position of the person who supplied it.
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-3 |
CONF-3 RFT 2023-16 - PROVISION OF REAL ESTATE AGENCY SERVICES FOR RIFL SUBDIVISION - OUTCOME REPORT
Author: Matthew Dombrovski
Executive: John Sidgwick
This report is CONFIDENTIAL in accordance with Section 10A(2) of the Local Government Act 1993, which permits the meeting to be closed to the public for business relating to the following: -
(d) (i) commercial information of a confidential nature that would, if disclosed, prejudice the commercial position of the person who supplied it.
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-4 |
Author: Madeleine Scully
Executive: Janice Summerhayes
This report is CONFIDENTIAL in accordance with Section 10A(2) of the Local Government Act 1993, which permits the meeting to be closed to the public for business relating to the following: -
(a) personnel matters concerning particular individuals.
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-5 |
CONF-5 RFT2023-08 LORD BADEN POWELL DRIVE DESIGN & CONSTRUCT
Author: Silas Darby
Executive: Phil McMurray
This report is CONFIDENTIAL in accordance with Section 10A(2) of the Local Government Act 1993, which permits the meeting to be closed to the public for business relating to the following: -
(c) information that would, if disclosed, confer a commercial advantage on a person with whom the Council is conducting (or proposes to conduct) business; and
(d) (i) commercial information of a confidential nature that would, if disclosed, prejudice the commercial position of the person who supplied it; and
(d) (ii) commercial information of a confidential nature that would, if disclosed, confer a commercial advantage on a competitor of the Council; and
(d) (iii) commercial information of a confidential nature that would, if disclosed, reveal a trade secret.
|
Report submitted to the Confidential Meeting of Council on Monday 30 January 2023 |
CONF-6 |
