Agenda and
Business Paper

 

Ordinary Meeting of Council

 

 

 

To be held on
Wednesday 26 April 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

 

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.

 

 

 

 

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.

 

Ordinary Meeting of Council AGENDA AND BUSINESS PAPER

Wednesday 26 April 2023

ORDER OF BUSINESS:

CLAUSE               PRECIS                                                                                                  PAGE

ACKNOWLEDGEMENT OF COUNTRY                                                                                   2

REFLECTION                                                                                                                         2

APOLOGIES                                                                                                                          2

Confirmation of Minutes

CM-1           ORDINARY COUNCIL MEETING - 3 APRIL 2023                                                 2

DECLARATIONS OF INTEREST                                                                                            2

Motions Of Which Due Notice Has Been Given

NOM-1         NOTICE OF MOTION - NSW HEALTH ROYAL COMMISSION TERMS OF REFERENCE                                                                                                                           3

Reports from Staff

RP-1            INTEGRATED PLANNING AND REPORTING (IP&R) - DRAFT DOCUMENTS FOR EXHIBITION                                                                                                        5

RP-2            ADVOCACY PLAN REVIEW - 2023                                                                     12

RP-3            FINANCIAL PERFORMANCE REPORT AS AT 31 MARCH 2023                          17

RP-4            QUESTIONS WITH NOTICE                                                                                54    

Confidential Reports

CONF-1       RFQ2023-533 Airport and Riverside Stage 3 Business Cases             56

 

 

 

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

 

 

REFLECTION

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 - 3 APRIL 2023       

 

Recommendation That the Minutes of the proceedings of the Ordinary Council Meeting held on 3 April 2023 be confirmed as a true and accurate record.

 

 

 

1⇩.

Minutes - 3 April 2023

57

 

 

DECLARATIONS OF INTEREST

Report submitted to the Ordinary Meeting of Council on Wednesday 26 April 2023

NOM-1

 

Motions Of Which Due Notice Has Been Given

NOM-1           NOTICE OF MOTION - NSW HEALTH ROYAL COMMISSION TERMS OF REFERENCE

Councillor:   Councillor Dan Hayes         

 

 

Summary:

Wagga Wagga City Council in collaboration with the Murrumbidgee Health and Knowledge Precinct Committee identify and submit suggestions for terms of reference for the NSW Health Royal Commission when announced.

 

 

Recommendation That Council receive a report outlining the possible terms of reference items Wagga Wagga City Council in collaboration with the Murrumbidgee Health and Knowledge Precinct Committee would like to see included for the proposed NSW Health Royal Commission to further improve the opportunities for more efficient and coordinated health services for the region.

 

The new State Government is progressing work on implementing a Royal Commission into health funding. This provides a unique opportunity for Wagga Wagga City Council to advocate for areas to be included in the terms of reference including the health and knowledge precinct and improvement in local health services.

 

While Royal Commissions are often seen as a deep investigation into failings, they can also examine opportunities for improvements. Ensuring Wagga’s health services and the health and knowledge precinct initiative are included would be beneficial to our region and Wagga Wagga City Council.

 

N/A

Local Government Act 1993 (NSW)

Code of Meeting Practice

 

Community leadership and collaboration

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

Our leaders represent our community

 

 

 

 

N/A

N/A

 

 

 

 

Report submitted to the Ordinary Meeting of Council on Wednesday 26 April 2023

RP-1

 

Reports from Staff

RP-1               INTEGRATED PLANNING AND REPORTING (IP&R) - DRAFT DOCUMENTS FOR EXHIBITION

Author:          Scott Gray 

 

Summary:

Attached for public exhibition are the draft Revised Delivery Program 2022/23 – 2025/26, draft Operational Plan 2023/24, draft Fees and Charges 2023/24 and draft Long Term Financial Plan 2023/24.

 

 

Recommendation That Council: a       place the following documents on public exhibition for 28 days commencing 27 April 2023 and concluding on 25 May 2023: i         draft Revised Delivery Program 2022/23 – 2025/26 ii        draft Operational Plan 2023/24 iii       draft Fees and Charges for the financial year 2023/24 iv       draft Long Term Financial Plan 2023/24 b       receive a further report after the public exhibition period: i         addressing any submissions made in respect of the draft documents ii        proposing adoption of the draft documents

 

 

Integrated Planning and Reporting Framework

 

The Integrated Planning and Reporting (IP&R) framework helps Council discuss funding priorities and service levels with our community, including how these shape our local identity and how we can work together to create a more sustainable future.

 

Under NSW Government legislation, councils must prepare a number of plans detailing how they intend to deliver works and services in the short and long term.

 

These plans are based on the community’s priorities and present a balanced approach to planning that considers how our resources can be used to deliver community outcomes.

 

The 2023/24 Integrated Planning and Reporting Resourcing Strategies and Plans have been formulated together with consideration of the revised Wagga View Community Strategic Plan 2040 (CSP) previously adopted by Council.

 

A key focus of the attached draft documents is for Council to deliver on the Community Strategic Plan 2040 vision; “In 2040 Wagga will be a thriving, innovative, connected and inclusive community on the Murrumbidgee. Rich in opportunity, choice, learning and environment. Wagga is a place where paths cross and people meet”, which is underpinned by the following strategic directions (themes):

 

·    Community leadership and collaboration;

·    Safe and healthy community;

·    Growing economy;

·    Community place and identity; and

·    The environment.

 

The CSP identifies the objectives that the community wants to head towards over the next ten+ years and also sets out the strategies on how to get there. The CSP sits at the highest level of Council’s planning hierarchy and guides all other Council strategies and plans.

 

 

 

 

Image 1 – Integrated Planning & Reporting (IP&R) Framework

 

 

1.   Delivery Program 2022/2026

 

The Delivery Program (Attachment 1) picks up these strategies and then links them to the principal activities Council will undertake for the period of the Delivery Program (usually four years). These activities guide the actions (services, programs and projects) that will be undertaken by Council each financial year to bring us closer to our shared community vision and goals as identified in the CSP.

 

2.   Operational Plan 2022/23

 

The Operational Plan (Attachment 2) outlines the actions (services, programs and projects) that Council will undertake each financial year that contribute to achieving the commitments of the Delivery Program and CSP. It identifies the annual budget required to deliver the actions and the responsible service area within Council who will oversee and report on the actions.

 

3.   Long Term Financial Plan

 

The Long Term Financial Plan (LTFP) (Attachment 3) is an essential element of the resourcing strategy which details how the strategic aspirations of Council outlined in the CSP can be achieved in terms of time, money, assets and people.

 

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

 

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

 

As part of the LTFP review process, a financial scenario has been included to address the ongoing infrastructure renewal and maintenance shortfall as identified in Council’s Asset Management Plans, with part-funding to be investigated from a proposed future Special Rate Variation.

 

As noted in the LTFP and reported recently to Council, the commencement of a Zero Base Budgeting Process will be undertaken to identify required funding to be allocated based on program efficiency and necessity, rather than budget history. This will ensure continuous improvement, business excellence and service efficiency with the review of various functional service areas. This information will be reported back to Councillors to determine if it is to be incorporated into future draft LTFP’s.

 

 

 

Capital Projects

 

Capital works projects and programs account for over $93 million of the planned activities for the 2023/24 financial year. There are three different categories of capital works; Confirmed ($33.5M), Recurrent ($21.6M) and Pending ($38.7M).

 

Confirmed Capital projects refer to the new one-off projects Council will undertake during the year. Recurrent capital projects refer to the expenditure allocated on an annual basis for capital works programs. The Pending capital projects are those that are not delivery ready and so require a resolution of Council to proceed.

 

Below is just a sample of some of the more significant capital works projects (excluding roads) identified as “Confirmed” for the 2023/24 financial year:

 

One-Off Capital Projects	2023/24 Budget
Active Travel Plan	$750,000
GWMC – Construction of new Waste Cell	$2,900,000
GWMC – Plant Shed	$1,180,000
Jim Elphick Tennis Centre Upgrade	$7,070,000
Jubilee Park - Athletics Park	$3,210,000

 

Roads Funding

 

The Capital Works Program within the LTFP includes budget amounts for one-off and recurrent funding across the 10 years. For the 2023/24 financial year, there is a total allocation of $28.5M for roads, which includes one-off projects of ($17.7M) and recurrent programs of ($10.8M). The one-off roads projects and recurrent roads program budgets allocated for 2023/24 are shown below:

 

One-Off Roads Projects	2023/24 Budget
Dunns Road Upgrade	$3,900,000
Gregadoo Road Corridor Works	$2,700,000
Keajura Road Upgrade	$1,600,000
Old Narrandera Road Sealing	$500,000
Pine Gully Road Corridor Works	$2,700,000
Regional Roads Repair Block Grant	$400,000
Regional Roads Supplementary Block Grant	$200,000
Upgrade & Repair Roads across the Electorate	$5,700,000

 

Recurrent Roads Programs	2023/24 Budget
Gravel Resheets	$1,900,000
Heavy Patching Program	$1,000,000
Pavement Rehabilitation Program	$4,300,000
Reseal Program (Renewal)	$2,600,000
Urban Asphalt Program	$1,000,000

 

4.   Fees and Charges

 

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

 

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

 

·    supplying a service, product or commodity

·    giving information

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

·    allowing admission to any building or enclosure.

 

The major change highlighted in the 2023/24 Fees and Charges relates to the increase in the passenger service charge for the Wagga Airport. This has recently been adopted by Council, at the 3 April 2023 meeting, to increase the base rate from $13.60 to $15.80 per passenger with the new rate to commence from 1 August 2023.

 

The proposed adoption of the suite of Integrated Planning and reporting documents will be reported to Council 26 June 2023 after all submissions have been reviewed and Council officer responses are provided to Council for overall adoption.   

The documents have been created to meet Council’s Integrated Planning and Reporting requirements under the Local Government Act 1993 and Local Government Regulations 2005.

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We plan long term

 

A number of risk management issues were identified and have been actively managed.

 

A summary of these risks are as follows:

-        Lack of engagement from the community

-        Inability to meet everyone’s expectations

-        Inability to resource and deliver on plans

 

 

 

 

Internal consultation was undertaken with relevant departments to prepare the draft documents for exhibition. Councillor workshops/discussions were also held with the following in attendance:

 

20 February 2023

Present: Councillor G Davies, Councillor R Foley, Councillor D Hayes, Councillor M Henderson, Councillor R Kendall, Councillor A Parkins, Councillor J McKinnon.

 

20 March 2023

Present: Mayor Councillor D Tout, Councillor G Davies, Councillor R Foley, Councillor D Hayes, Councillor M Henderson, Councillor R Kendall, Councillor T Koschel, Councillor A Parkins, Councillor J McKinnon.

 

27 March 2023

Present: Mayor Councillor D Tout, Councillor G Davies, Councillor R Foley, Councillor D Hayes, Councillor M Henderson, Councillor R Kendall, Councillor T Koschel, Councillor A Parkins, Councillor J McKinnon.

 

The documents will be placed on public exhibition for a 28-day period commencing from 27 April 2023 and concluding on 25 May 2023. As part of the exhibition period a variety of communication methods will be used, to not only promote the public exhibition period but also promote the purpose of the documents.

 

 

Mail

Traditional Media

Community Engagement

Digital

Rates notices insert

Direct mail

Letterbox drop

Council news

Media release

Media opportunity

TV/radio advertising

One-on-one meeting(s)

Community meeting(s)

Stakeholder workshop(s)

Drop-in session(s)

Survey/feedback form(s)

Connect.Wagga

Email newsletter

Social media

Website

Inform

x

x

x

x

x

Consult

x

x

x

x

x

Involve

x

x

x

x

x

Collaborate

 

1.	Attachment 1 - Draft Delivery Program 2022/23 -2025/26 - Provided under separate cover
2.	Attachment 2 - Draft Operational Plan 2023/24 - Provided under separate cover
3.	Attachment 3 - Draft Long Term Financial Plan 2023/24 - Provided under separate cover
4.	Attachment 4 - Draft Fees and Charges 2023/24 - Provided under separate cover

 

Report submitted to the Ordinary Meeting of Council on Wednesday 26 April 2023

RP-2

 

RP-2               ADVOCACY PLAN REVIEW - 2023

Author:         Scott Gray 

        

 

Summary:

Council’s Advocacy Plan provides a guide to address issues that are beyond the capacity of Council.

 

 

Recommendation That Council: a       endorse the Advocacy Plan items contained within this report b       note that the Advocacy Plan will be graphically designed and listed on Council’s website c        review annually as part of the Integrated Planning and Reporting process

 

Council’s Advocacy Plan provides a guide to address issues that are beyond the capacity of Council.

 

The framework is designed to allow Council and other representative groups to take advantage of advocacy opportunities as they arise.

 

This plan is also the basis for prioritising projects and funding bids, especially when new funding programs are announced from the Federal and State Governments.

 

The objectives of Council’s Advocacy Plan is to:

 

·        Set an organisational advocacy agenda and identify priorities in a planned and strategic manner

·        Identify key partners and build strong strategic relationships

·        Influence key decision makers

·        Secure funding for community identified priority projects

·        Build trust and confidence in Council as a proactive advocate for the community

 

Generally, items already covered by other groups such as LGNSW, ALGA and Country Mayors are not included, but these could be considered if items are significant enough for our local community.

 

Draft Advocacy Plan Items

 

The list of items below has been derived by reviewing Council’s current Advocacy Plan, seeking feedback from Councillors and by reviewing previous resolutions of Council.

 

It is important to note that this list will be updated regularly to align with the strategic direction of the city and can be updated by resolution of Council to include items as they arise. It will also be reviewed annually as part of the Integrated Planning & Reporting documentation.

Subject	What are we advocating for?
Abortion Services	·    We request that the State and Federal Governments, local health district, hospital staff, GPs, and other organisations increase access to medical and surgical abortions.
Airport	·    We request that the Federal Government renew our lease at the Airport for a term of 50 years with a further 49 year option   ·    We request significant State and Federal Government funding contributions towards the critical capital works required at the Airport such as the Terminal
Coercive Control, Abuse and Violence	·    We will advocate for resources and funding levels that support the front-line services and other organisations addressing coercive control, abuse and violence and their delivery of preventative programs to address gender equity and respectful relationships.
Cultural Institutions	·    We request that the State Government re-instate multi-year funding for Museums and Galleries allowing for planning and multi-year program commitments in meeting community needs
Education Services	·    We will advocate for the Federal Government to support the regional university sector to allow more students and build the skills for needed professions for our area ·    We will advocate for Charles Sturt University (CSU) to grow the courses available at the Wagga Wagga campus and not cut or relocate courses and jobs from this campus ·    We will advocate for TAFE NSW to customise qualifications and training packages to meet the needs of our migrant and refugee community. Combining qualifications with literacy and numeracy skills. ·    We will advocate for the State Government to meet the goal in the “A 20-Year Economic Vision for Regional NSW” (February 2021) of investigating specialised vocational and technical high schools such as in fields of advanced manufacturing, robotics, or other technology in Wagga.
Health Services	·    We will advocate for the ongoing roll out of the Murrumbidgee Health and Knowledge precinct by the State Government across the entire Murrumbidgee Health District ·    We will advocate for the provision of health services not currently available in Wagga Wagga ·    We will advocate for an increase to permanent specialists in Wagga Wagga for the continuity of care for patients
Inland Rail	·    We request that alternative alignments for Inland Rail be considered to limit the impacts within the City of Wagga Wagga caused by the routing of trains through the centre of the city
Lake Albert	·    We request State and/or Federal Government funding contributions towards the Lake Albert Pipeline project and other necessary works within the precinct
Net Zero	·    We will advocate for the State and Federal Government to provide support to our community to reach 50% reduction in emissions compared to 2005 levels by 2030 and to achieve Net Zero Emissions by 2050
Social and Affordable Housing	·    We will advocate to and collaborate with State Government and other key providers to plan for and deliver social and affordable housing that works towards increasing supply and meeting the increasing need in Wagga Wagga and surrounding rural areas.
Special Activation Precinct (SAP)	·    We will advocate for Federal and State Government development in the SAP precinct together with financial support from those levels of Government for private industry to establish in the precinct.   ·    We request State and Federal Funding to secure new industry and development in the location of the RIFL facility and the Special Activation Precinct.
Transport	·    We will continue to advocate for the State Government to duplicate Gobbagombalin Bridge ·    We request that the State and/or Federal Government identify a solution for a future heavy vehicle bypass ·    We request significant additional funding from the State and Federal Government to utilise on maintaining our local road network

 

N/A

Wagga Wagga City Council’s Advocacy Plan

Community leadership and collaboration

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

Our leaders represent our community

N/A

Internal discussions were held before Councillor Workshops on 30 January 2023 and 6 March 2023.

 

It is not proposed to put the plan through a formal public exhibition process, but instead promote the plan through social media and Council news stories. If feedback is received this will be presented to Councillors as part of a regular review process

Mail

Traditional Media

Community Engagement

Digital

Rates notices insert

Direct mail

Letterbox drop

Council news

Media release

Media opportunity

TV/radio advertising

One-on-one meeting(s)

Community meeting(s)

Stakeholder workshop(s)

Drop-in session(s)

Survey/feedback form(s)

Connect.Wagga

Email newsletter

Social media

Website

Inform

X

X

X

Consult

Involve

Collaborate

Other methods (please list specific details below)

 

 

 

 

Report submitted to the Ordinary Meeting of Council on Wednesday 26 April 2023

RP-3

 

RP-3               FINANCIAL PERFORMANCE REPORT AS AT 31 MARCH 2023

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 March 2023.

 

 

Recommendation That Council: a       approve the proposed 2022/23 budget variations for the month ended 31 March 2023 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 new projects and 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 March 2023 in accordance with section 625 of the Local Government Act 1993 e       accept the grant funding offers as presented in this report f        in accordance with Section 356 of the Local Government Act 1993, amend the previous Council resolution (22/402) and adjust the total financial assistance to the School of Arts Community Theatre (SoACT) to $12,582, which recognises the original intent of the Council resolution as detailed in this report

 

Wagga Wagga City Council (Council) forecasts a balanced budget position as of 31 March 2023.

 

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 March when compared to budget ($437,335 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, as well as a positive movement in Councils NSW T-Corp Managed Fund for the month.

 

 

 

Request for Financial Assistance – amendment to financial assistance amount

Council resolved at its 21 November 2022 Council meeting the following:

 

 

The $14,642 financial assistance amount was based on the following:

 

Item	Total Request for Assistance	Staff Recommendation for funding
Theatre hire – Community fee	$7,650	$7,650
Staffing	$13,984	$6,992
Contingency/other eg additional staffing required	$2,666	$2,500*
Total	$24,300	$17,142
Contribution paid to date*		($2,500)
Balance recommended for funding assistance		$14,642

 

The event has now been held and with actual costs known, the following is the amended financial assistance amount:

$  7,350 – Theatre hire – Community fee (incorrect amount in estimate)

$  5,232 – 50% of the actual $10,464 staffing costs

$12,582

 

Based on the actual costs, Council officers have now deemed it appropriate to revise the financial assistance down to $12,582.

 

 

Key Performance Indicators

 

 

 

OPERATING INCOME

Total operating income is 79% of approved budget and is trending above budget for the month of March 2023. This is due to increased revenue from Interest on Investments, with more detail included in the Interest on Investments section of the report below including a variation to budget.

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 95% when compared to budget.

 

OPERATING EXPENSES

Total operating expenditure is 75% of approved budget which is on track for the end of March.

 

CAPITAL INCOME

Total capital income is 70% 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 (including the recent sale of Bomen land) as well as plant and equipment.

 

CAPITAL EXPENDITURE

Total capital expenditure including commitments is 62% of approved budget with some purchase orders being raised for the full contract amounts for multi-year projects. Excluding commitments, the total expenditure is 29% when compared to the approved budget.

 

WAGGA WAGGA CITY COUNCIL STATEMENT OF FINANCIAL PERFORMANCE 1 JULY 2022 TO 31 MARCH 2023
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)	(630,214)	(76,154,382)	(56,838,720)	0	(56,838,720)	75%
User Charges & Fees	(27,844,136)	(626,935)	(28,471,071)	(21,395,951)	0	(21,395,951)	75%
Other Revenues	(2,769,503)	(202,000)	(2,971,503)	(2,338,884)	0	(2,338,884)	79%
Grants & Contributions provided for Operating Purposes	(13,524,889)	246,895	(13,277,993)	(12,542,382)	0	(12,542,382)	94%
Grants & Contributions provided for Capital Purposes	(36,295,253)	(30,206,685)	(66,501,938)	(33,812,548)	0	(33,812,548)	51%
Interest & Investment Revenue	(1,828,128)	0	(1,828,128)	(4,293,448)	0	(4,293,448)	235%
Other Income	(1,406,222)	(54,000)	(1,460,222)	(1,148,566)	0	(1,148,566)	79%
Total Revenue	(159,192,300)	(31,472,939)	(190,665,238)	(132,370,499)	0	(132,370,499)	69%
Expenses
Employee Benefits & On-Costs	51,315,412	841,605	52,157,018	34,704,085	0	34,704,085	67%
Borrowing Costs	3,268,989	0	3,268,989	2,273,578	0	2,273,578	70%
Materials & Services	36,542,674	13,190,589	49,733,263	31,451,724	8,869,772	40,321,496	81%
Depreciation & Amortisation	43,196,051	0	43,196,051	32,397,038	0	32,397,038	75%
Other Expenses	1,866,271	2,078,121	3,944,392	3,941,778	15,511	3,957,289	100%
Total Expenses	136,189,398	16,110,315	152,299,713	104,768,203	8,885,284	113,653,487	75%
Net Operating (Profit)/Loss	(23,002,902)	(15,362,623)	(38,365,525)	(27,602,296)	8,885,284	(18,717,012)
Net Operating Result Before Capital (Profit)/Loss	13,292,351	14,844,062	28,136,413	6,210,252	8,885,284	15,095,535
Cap/Reserve Movements
Capital Expenditure - One Off Confirmed	13,638,521	67,481,056	81,119,578	21,930,010	30,106,009	52,036,019	64%
Capital Expenditure - Recurrent	18,890,352	8,390,037	27,280,388	7,997,706	9,266,773	17,264,479	63%
Capital Expenditure - Pending Projects	59,770,944	(56,508,230)	3,262,713	4,390	0	4,390	0%
Loan Repayments	7,571,681	0	7,571,681	4,928,761	0	4,928,761	65%
New Loan Borrowings	(17,458,537)	11,894,915	(5,563,622)	0	0	0	0%
Sale of Assets	(880,181)	(4,037,359)	(4,917,540)	(15,911,934)	0	(15,911,934)	324%
Net Movements Reserves	(15,333,827)	(11,857,795)	(27,191,622)	0	0	0	0%
Total Cap/Res Movements	66,198,954	15,362,623	81,561,577	18,948,932	39,372,782	58,321,714
Net Result after Depreciation	43,196,052	0	43,196,052	(8,653,363)	48,258,066	39,604,702
Add back Depreciation Expense	43,196,051	0	43,196,051	32,397,038	0	32,397,038	75%
Cash Budget (Surplus)/Deficit	0	0	0	(41,050,402)	48,258,066	7,207,664

 

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

 

* This table does not include any proposed adjustments to the draft 2023/24 LTFP budget process

 

 

 

 

 

 

 

 

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 March 2023	$0K $0K $0K
Proposed Revised Budget result for 31 March 2023 - (Surplus) / Deficit	$0K

 

The proposed Operating and Capital Budget Variations for 31 March 2023 which affect the current 2022/23 financial year are listed below.

 

 

 

The following one-off capital projects were presented and discussed with Councillors at the recent 2023/24 Budget Workshops and are listed below for adoption:

 

 

 

2022/23 Capital Works Summary

 

Capital Works	Approved Budget	Proposed Movement	Proposed Budget
One-off	$81,119,578	$171,556	$81,291,134
Recurrent	$27,280,388	$0	$27,280,388
Pending	$3,262,713	$0	$3,262,713
Total Capital Works	$111,662,679	$171,556	$111,834,235

Current Restrictions

 

RESERVES SUMMARY
31 MARCH 2023
	CLOSING BALANCE 2021/22	ADOPTED RESERVE TRANSFERS 2022/23	BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 13.3.2023	PROPOSED CHANGES for Council Resolution*	BALANCE AS AT 31 MARCH 2023
Externally Restricted
Developer Contributions - Section 7.11	(31,045,478)	7,213,679	(7,421,600)	(29,907)	(31,283,306)
Developer Contributions - Section 7.12	(278,187)	(28,179)	0		(306,366)
Developer Contributions - Stormwater Section 64	(7,112,864)	(786,229)	281,476		(7,617,617)
Sewer Fund	(32,439,399)	673,962	2,228,876	(386,015)	(29,922,576)
Solid Waste	(24,880,735)	7,737,392	(3,486,453)	(34,929)	(20,664,725)
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	610,957	40,000	(4,463,551)
Total Externally Restricted	(111,460,179)	14,846,399	(3,533,272)	(410,851)	(100,557,903)
Internally Restricted
Additional Special Variation (ASV)	0	0	(630,214)		(630,214)
Airport	0	0	0		0
Art Gallery	(3,804)	0	0		(3,804)
Bridge Replacement	(296,805)	0	60,000		(236,805)
Buildings	(1,088,635)	(23,658)	258,460		(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)	(343,710)		(4,194,772)
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)

 

 

 

 

 

 

CONSULTANCY & LEGAL EXPENSES BUDGET REVIEW STATEMENT *
31 MARCH 2023
		Approved Changes
	BUDGET 2022/23	SEPTEMBER QTR BUDGET VARIATIONS APPROVED TO DATE	DECEMBER QTR BUDGET VARIATIONS APPROVED TO DATE	MARCH QTR BUDGET VARIATIONS APPROVED TO DATE	REVISED BUDGET	PROJECTED YEAR END RESULT	ACTUAL YTD
Consultancy Expenses	128,427	30,000	59,152	224	217,803	217,803	147,891
Legal Expenses	246,354	44,183	22,264	17,163	329,964	329,964	436,771
*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 March 2023

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 28/02/2023 $	Closing Balance Invested 31/03/2023 $	March EOM Current Yield %	March EOM % of Portfolio	Investment Date	Maturity Date	Term (months)
At Call Accounts
NAB	AA-	234,127	155,168	3.60%	0.07%	N/A	N/A	N/A
CBA	AA-	13,630,982	11,907,655	3.60%	5.56%	N/A	N/A	N/A
CBA	AA-	17,092,310	17,136,071	3.65%	8.00%	N/A	N/A	N/A
Macquarie Bank	A+	9,211,708	9,237,462	3.35%	4.31%	N/A	N/A	N/A
Total At Call Accounts		40,169,127	38,436,355	3.56%	17.94%
Short Term Deposits
CBA	AA-	2,000,000	2,000,000	2.22%	0.93%	20/04/2022	20/04/2023	12
CBA	AA-	2,000,000	2,000,000	3.68%	0.93%	8/06/2022	8/06/2023	12
AMP	BBB	1,000,000	1,000,000	4.70%	0.47%	15/11/2022	15/11/2023	12
AMP	BBB	2,000,000	2,000,000	4.55%	0.93%	30/11/2022	30/11/2023	12
CBA	AA-	1,000,000	1,000,000	4.69%	0.47%	30/01/2023	30/01/2024	12
Total Short Term Deposits		8,000,000	8,000,000	3.79%	3.73%
Medium Term Deposits
BOQ	BBB+	2,000,000	2,000,000	1.20%	0.93%	4/01/2022	4/01/2024	24
BOQ	BBB+	1,000,000	1,000,000	3.78%	0.47%	1/06/2022	3/06/2024	24
Westpac	AA-	2,000,000	2,000,000	1.32%	0.93%	28/06/2021	29/06/2026	60
Westpac	AA-	2,000,000	2,000,000	1.80%	0.93%	15/11/2021	17/11/2025	48
BoQ	BBB+	1,000,000	1,000,000	2.15%	0.47%	8/07/2019	10/07/2023	48
ICBC	A	2,000,000	2,000,000	2.03%	0.93%	6/11/2019	6/11/2024	60
ICBC	A	2,000,000	2,000,000	1.83%	0.93%	28/11/2019	28/11/2024	60
Judo Bank	BBB-	1,000,000	1,000,000	1.30%	0.47%	3/12/2021	4/12/2023	24
ICBC	A	1,000,000	1,000,000	1.75%	0.47%	6/01/2020	8/01/2024	48
BOQ	BBB+	1,000,000	1,000,000	2.00%	0.47%	28/02/2020	28/02/2025	60
Police Credit Union	NR	1,000,000	1,000,000	2.20%	0.47%	1/04/2020	1/04/2025	60
ICBC	A	1,000,000	1,000,000	1.85%	0.47%	29/05/2020	29/05/2025	60
ICBC	A	1,000,000	1,000,000	1.86%	0.47%	1/06/2020	2/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.93%	25/06/2020	25/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.93%	25/06/2020	25/06/2025	60
ICBC	A	2,000,000	2,000,000	1.60%	0.93%	29/06/2020	28/06/2024	48
ICBC	A	3,000,000	3,000,000	5.07%	1.40%	30/06/2022	30/06/2027	60
ICBC	A	2,000,000	2,000,000	1.42%	0.93%	7/07/2020	8/07/2024	48
ICBC	A	2,000,000	2,000,000	1.50%	0.93%	17/08/2020	18/08/2025	60
BoQ	BBB+	1,000,000	1,000,000	1.25%	0.47%	7/09/2020	8/09/2025	60
BoQ	BBB+	2,000,000	2,000,000	1.25%	0.93%	14/09/2020	15/09/2025	60
NAB	AA-	1,000,000	1,000,000	0.60%	0.47%	14/09/2021	14/09/2023	24
AMP	BBB	1,000,000	1,000,000	3.30%	0.47%	25/05/2022	27/11/2023	18
ICBC	A	1,000,000	1,000,000	1.20%	0.47%	7/12/2020	8/12/2025	60
NAB	AA-	2,000,000	2,000,000	0.95%	0.93%	29/01/2021	29/01/2026	60
NAB	AA-	1,000,000	1,000,000	1.08%	0.47%	22/02/2021	20/02/2026	60
NAB	AA-	2,000,000	2,000,000	1.25%	0.93%	3/03/2021	2/03/2026	60
Summerland CU	NR	1,000,000	1,000,000	0.75%	0.47%	29/04/2021	28/04/2023	24
NAB	AA-	2,000,000	2,000,000	1.40%	0.93%	21/06/2021	19/06/2026	60
NAB	AA-	2,000,000	2,000,000	0.65%	0.93%	25/06/2021	26/06/2023	24
Westpac	AA-	2,000,000	2,000,000	1.32%	0.93%	25/06/2021	25/06/2026	60
ICBC	A	1,000,000	1,000,000	1.32%	0.47%	25/08/2021	25/08/2026	60
NAB	AA-	2,000,000	2,000,000	0.65%	0.93%	31/08/2021	31/08/2023	24
AMP	BBB	2,000,000	2,000,000	1.00%	0.93%	18/10/2021	17/10/2024	36
Westpac	AA-	2,000,000	2,000,000	1.56%	0.93%	30/11/2021	29/11/2024	36
Westpac	AA-	2,000,000	2,000,000	2.00%	0.93%	8/02/2022	10/02/2025	36
P&N Bank	BBB	2,000,000	2,000,000	2.40%	0.93%	9/03/2022	10/03/2025	36
P&N Bank	BBB	2,000,000	2,000,000	2.00%	0.93%	10/03/2022	11/03/2024	24
MyState	BBB	2,000,000	2,000,000	2.20%	0.93%	2/03/2022	3/03/2025	36
CBA	AA-	2,000,000	2,000,000	3.28%	0.93%	26/04/2022	26/04/2024	24
CBA	AA-	2,000,000	2,000,000	3.78%	0.93%	4/05/2022	6/05/2024	24
CBA	AA-	2,000,000	2,000,000	3.99%	0.93%	4/05/2022	5/05/2025	36
ING Bank	A	1,000,000	1,000,000	3.76%	0.47%	23/05/2022	23/05/2024	24
ICBC	A	2,000,000	2,000,000	3.95%	0.93%	6/06/2022	6/06/2024	24
Australian Unity	BBB+	2,000,000	2,000,000	4.15%	0.93%	8/06/2022	11/06/2024	24
Suncorp	A+	2,000,000	2,000,000	4.40%	0.93%	22/06/2022	14/12/2023	18
MyState	BBB	2,000,000	2,000,000	4.45%	0.93%	29/06/2022	28/06/2024	24
BoQ	BBB+	1,000,000	1,000,000	4.50%	0.47%	7/07/2022	7/07/2025	36
CBA	AA-	1,000,000	1,000,000	4.25%	0.47%	12/08/2022	12/08/2025	36
P&N Bank	BBB	3,000,000	3,000,000	4.55%	1.40%	29/08/2022	29/08/2025	36
Australian Military Bank	BBB+	2,000,000	2,000,000	4.55%	0.93%	2/09/2022	2/09/2025	36
P&N Bank	BBB	1,000,000	1,000,000	4.40%	0.47%	9/09/2022	9/09/2025	36
BoQ	BBB+	1,000,000	1,000,000	4.70%	0.47%	4/10/2022	4/10/2024	24
AMP	BBB	2,000,000	2,000,000	4.95%	0.93%	21/10/2022	21/10/2024	24
ICBC	A	2,000,000	2,000,000	5.20%	0.93%	21/10/2022	21/10/2025	36
AMP	BBB	1,000,000	1,000,000	4.75%	0.47%	15/11/2022	14/11/2024	24
AMP	BBB	1,000,000	1,000,000	4.80%	0.47%	21/11/2022	20/11/2025	36
P&N Bank	BBB	2,000,000	2,000,000	4.75%	0.93%	16/12/2022	16/12/2024	24
Police Credit Union	NR	2,000,000	2,000,000	5.04%	0.93%	15/02/2023	17/02/2025	24
Police Credit Union	NR	0	2,000,000	4.94%	0.93%	14/03/2023	14/03/2025	24
P&N Bank	BBB	0	2,000,000	5.00%	0.93%	14/03/2023	15/03/2027	48
Hume Bank	BBB+	0	2,000,000	4.75%	0.93%	31/03/2023	31/03/2025	24
Total Medium Term Deposits		98,000,000	104,000,000	2.79%	48.53%
Floating Rate Notes - Senior Debt
Westpac	AA-	2,516,059	2,522,863	BBSW + 88	1.18%	16/05/2019	16/08/2024	63
Suncorp	A+	1,255,167	1,258,965	BBSW + 78	0.59%	30/07/2019	30/07/2024	60
ANZ	AA-	2,006,922	2,012,563	BBSW + 77	0.94%	29/08/2019	29/08/2024	60
HSBC	AA-	2,520,170	2,502,928	BBSW + 83	1.17%	27/09/2019	27/09/2024	60
ANZ	AA-	1,512,354	1,516,810	BBSW + 76	0.71%	16/01/2020	16/01/2025	60
NAB	AA-	2,014,975	2,020,565	BBSW + 77	0.94%	21/01/2020	21/01/2025	60
Newcastle Permanent	BBB	1,102,538	1,104,663	BBSW + 112	0.52%	4/02/2020	4/02/2025	60
Macquarie Bank	A+	2,004,690	2,010,277	BBSW + 84	0.94%	12/02/2020	12/02/2025	60
BOQ Covered	AAA	554,217	555,832	BBSW + 107	0.26%	14/05/2020	14/05/2025	60
Credit Suisse	A+	1,296,290	1,299,421	BBSW + 115	0.61%	26/05/2020	26/05/2023	36
UBS	A+	1,504,781	1,503,186	BBSW + 87	0.70%	30/07/2020	30/07/2025	60
Bank of China Australia	A	1,503,206	1,508,140	BBSW + 78	0.70%	27/10/2020	27/10/2023	36
CBA	AA-	1,997,213	2,002,620	BBSW + 70	0.93%	14/01/2022	14/01/2027	60
Rabobank	A+	1,991,851	1,996,958	BBSW + 73	0.93%	27/01/2022	27/01/2027	60
Newcastle Permanent	BBB	982,288	982,112	BBSW + 100	0.46%	10/02/2022	10/02/2027	60
NAB	AA-	2,384,935	2,391,482	BBSW + 72	1.12%	25/02/2022	25/02/2027	60
Bendigo-Adelaide	BBB+	1,666,009	1,653,256	BBSW + 98	0.77%	17/03/2022	17/03/2025	36
ANZ	AA-	2,007,903	2,013,960	BBSW + 97	0.94%	12/05/2022	12/05/2027	60
NAB	AA-	1,709,387	1,714,749	BBSW + 90	0.80%	30/05/2022	30/05/2025	36
Suncorp	A+	903,817	905,329	BBSW + 93	0.42%	22/08/2022	22/08/2025	36
ANZ	AA-	2,534,565	2,542,756	BBSW + 120	1.19%	4/11/2022	4/11/2027	60
NAB	AA-	2,527,623	2,536,425	BBSW + 120	1.18%	25/11/2022	25/11/2027	60
Suncorp	A+	1,121,284	1,110,388	BBSW + 125	0.52%	14/12/2022	14/12/2027	60
CBA	AA-	2,028,699	2,033,676	BBSW + 115	0.95%	13/01/2023	13/01/2028	60
Bank Australia	BBB	1,906,397	1,908,806	BBSW + 155	0.89%	22/02/2023	22/02/2027	48
Total Floating Rate Notes - Senior Debt		43,553,340	43,608,729		20.35%
Fixed Rate Bonds
ING Covered	AAA	659,377	673,574	1.10%	0.31%	19/08/2021	19/08/2026	60
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.00%	1.40%	24/08/2021	16/12/2024	40
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.50%	1.40%	24/08/2021	15/12/2026	64
BoQ	BBB+	1,717,805	1,754,235	2.10%	0.82%	27/10/2021	27/10/2026	60
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.50%	0.93%	6/08/2021	15/12/2026	64
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.50%	0.47%	14/07/2021	15/12/2026	65
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.30%	0.93%	29/04/2021	15/06/2026	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.93%	30/11/2020	15/12/2025	60
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.00%	0.47%	20/11/2020	15/12/2025	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.93%	21/10/2020	15/12/2025	62
Total Fixed Rate Bonds		18,377,182	18,427,809	1.30%	8.60%
Managed Funds
NSW Tcorp	NR	1,789,798	1,815,443	1.43%	0.85%	17/03/2014	1/03/2028	167
Total Managed Funds		1,789,798	1,815,443	1.43%	0.85%
TOTAL CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		209,889,446	214,288,336		100.00%
LESS: RIVERINA REGIONAL LIBRARY (RRL) CASH AT BANK		2,460,514	2,451,399
TOTAL WWCC CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		207,428,932	211,836,937

Council’s investment portfolio is dominated by Term Deposits, equating to approximately 52% of the portfolio across a broad range of counterparties. Cash equates to 18%, 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 increased over the past month, up from $207.43M to $211.84M.

 

 

 

Monthly Investment Movements

 

Redemptions/Sales – Council did not redeem or sell any investment securities during March 2023.

 

New Investments – Council purchased the following investment securities during March 2023:

 

 

Rollovers – Council did not rollover any investment securities during March 2023.

 

Monthly Investment Performance

 

Interest/growth/capital gains/(losses) for the month totalled $569,286, which compares favourably with the budget for the period of $131,951 - outperforming budget for the month by $437,335.

 

Council’s outperformance to budget for March 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 March 2023 bringing the cash rate to 3.60% from a record low of 0.10% in April 2022.

 

Council experienced a positive return on its NSW T-Corp Managed Fund for the month of March, with the fund returning +1.43% (or $25,645) as international shares gained over the month (+2.93%). Fixed bonds (+3.16%) also contributed to the gains in the fund as expectations rose about a potential pause in interest rates.

 

 

In comparison to the AusBond Bank Bill Index* of 3.39% (annualised), Council’s investment portfolio returned 3.24% (annualised) for the month of March. Cash and At‑Call accounts returned 3.60% (annualised) for the month. These funds are utilised for daily cash flow management and need to be available to meet operating and contractual payments as they fall due.

 

Over the past year, Council’s investment portfolio has returned 2.35%, outperforming the AusBond Bank Bill index by 0.31%.

 

* 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.

Positive Investment Revenue Budget Variation

Due to the greater than anticipated investment revenue received to date this financial year compared to budget, a positive investment revenue budget variation is included earlier in this report.

Report by Responsible Accounting Officer

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

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We are accountable and transparent

 

 

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

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