Agenda and
Business Paper

 

Ordinary Meeting of Council

 

 

 

To be held on
Monday 25 March 2024

at 6:00 PM

 

 

 

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 Secion 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

Monday 25 March 2024

ORDER OF BUSINESS:

CLAUSE               PRECIS                                                                                                 PAGE

ACKNOWLEDGEMENT OF COUNTRY                                                                                   3

REFLECTION                                                                                                                         3

APOLOGIES                                                                                                                          3

Confirmation of Minutes

CM-1           ORDINARY COUNCIL MEETING - 11 MARCH 2024                                             3

DECLARATIONS OF INTEREST                                                                                            3

Motions Of Which Due Notice Has Been Given

NOM-1         NOTICE OF MOTION – CALLING ON THE FEDERAL GOVERNMENT TO IDENTFY WHAT WILL BE THE FUTURE BYPASS EASEMENT FOR THE INLAND RAIL AROUND THE CITY OF WAGGA WAGGA                                                                                          4

Reports from Staff

RP-1            DA23/0579 - Telecommunications facility – Lot 8 DP 716602, 13 Sycamore Road, Lake Albert                                                                                        6

RP-2            RESPONSE TO MAYORAL MINUTE - 16 DAYS OF ACTIVISM IN WAGGA WAGGA                                                                                                                      11

RP-3            FINANCIAL PERFORMANCE REPORT AS AT 29 FEBRUARY 2024                    17

RP-4            REQUESTS FOR FINANCIAL ASSISTANCE - SECTION 356                               49

RP-5            RECREATION AND COMMUNITY FACILITY FEES AND CHARGES                    54

RP-6            PROPOSED LICENCES OF OFFICE SPACE WITHIN A COMMUNITY BUILDING - 26 SHAW STREET, WAGGA WAGGA                                                                                 58

RP-7            ADJUSTMENT TO COUNCIL MEETING DATES 2024                                          62

RP-8            2024 LGNSW Water Management Conference                                        64

RP-9            2024 NATIONAL GENERAL ASSEMBLY OF LOCAL GOVERNMENT ANNUAL CONFERENCE                                                                                                    66

RP-10          QUESTIONS WITH NOTICE                                                                                94

Committee Minutes

M-1              CONFIRMATION OF MINUTES AUDIT, RISK AND IMPROVEMENT COMMITTEE - 22 FEBRUARY 2024                                                                                                96   

Confidential Reports

CONF-1       2024-537 Emergency Works Floodgate 15A                                            106

 

 

 

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 - 11 MARCH 2024       

Recommendation

That the Minutes of the proceedings of the Ordinary Council Meeting held on 11 March 2024 be confirmed as a true and accurate record.

 

 

1⇩.

Minutes - Ordinary Council Meeting - 11 March 2024

107

 

 

DECLARATIONS OF INTEREST

Report submitted to the Ordinary Meeting of Council on Monday 25 March 2024

NOM-1

 

Motions Of Which Due Notice Has Been Given

NOM-1           NOTICE OF MOTION – CALLING ON THE FEDERAL GOVERNMENT TO IDENTFY WHAT WILL BE THE FUTURE BYPASS EASEMENT FOR THE INLAND RAIL AROUND THE CITY OF WAGGA WAGGA

Author:          Councillor Richard Foley  

 

Summary:

Dr Kerry Schott’s review of the Inland Rail found “that an easement bypassing the town be preserved for future use.” This NOM invokes upon the Federal and State Government to identify and expedite where that future easement shall be.

 

 

That Council:

a       writes to the Federal Minister for Infrastructure, Transport, Regional Development and Local Government, the Hon Catherine King MP and the State Minister for Regional Transport and Roads, the Hon Jenny Aitchison regarding the urgent need to identify and preserve an easement for a future Inland Rail bypass.

b       The letter at a minimum is to include;

i         reference to Dr Kerry Schott’s review of the Inland Rail Project which stated “that an easement bypassing the town be preserved for future use”

ii        invokes upon the critical urgency for this easement for Inland Rail to be identified, declared, expedited and preserved for the future now and not buck passed to a future government in 10- or 20-years’ time if at all

iii       that the City of Wagga Wagga is a fast-growing regional city heading to be over 100,000+ population and needs planning certainty as to where its future housing developments will be situated and, on this basis, alone that the urgent identification of the easement is called for now in order to give this Council planning certainty

iv       that the NSW Government sets and announces a timeline down to commence this process which includes the Gazetting of the future Inland Rail Bypass for the City of Wagga Wagga.

 

At this stage in time there has been no decent response nor action from either the Federal or State Government in relation to the recommendation by Dr Kerry Schott that an easement be preserved bypassing the City of Wagga Wagga (acknowledging that States are primarily tasked with the responsibility of ensuring easements).

 

The City of Wagga Wagga is an expanding and growing regional city with aspirations to be over 100,000+ in population soon. This therefore calls for surety in future planning of land use so that vital land releases and housing subdivisions can proceed unabated without potential interruption.

 

The Schott Report into the Inland Rail Project clearly identified the need for the City of Wagga Wagga to have an easement preserved for a future bypass as the inevitable impact of greater rail movements impacts the amenity of this city. And further will split this city in half particularly at the vital level crossing at Bourke St near the Base Hospital.

 

 

The Federal and State Governments, in particular the relevant ministers, must surely comprehend that by severing this city from north to south it will cause not only inconvenience but a very real threat to life in that emergency services will be cut off from our major hospital once 18-20 more rail movements begin. This gives even more impetus for the urgency in identification and declaration of the future Inland rail bypass easement route to be expedited.

 

N/A

Wagga Wagga Code of Meeting Practice

 

Community leadership and collaboration

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

Plan long term for the future of Wagga Wagga

 

 

 

 

Report submitted to the Ordinary Meeting of Council on Monday 25 March 2024

RP-1

 

Reports from Staff

RP-1               DA23/0579 - Telecommunications facility – Lot 8 DP 716602, 13 Sycamore Road, Lake Albert

Author:                        Cameron Collins 

General Manager:    Peter Thompson

         

 

Summary:

The report is for a development application and is presented to Council for determination.   Section 1.10 of the Wagga Wagga Development Control Plan 2010 requires any application that is the subject of 10 or more objections be referred to Council for determination.   A full assessment of the development application is provided as an attachment to this report.  The assessment has considered and addressed all relevant matters raised in the submissions.

 

 

That Council approve DA23/0579 for a telecommunications facility (mobile phone base station incorporating a 30 metre high monopole and associated infrastructure) Lot 8 DP 716602, 13 Sycamore Road, Lake Albert, subject to the conditions outlined in the s4.15 Assessment Report.

 

 

Applicant	Ventia Pty Ltd Directors: Dean John Banks Mark Lee Ralston David Lee McPadden Zoheb Mehmood Razvi Debbie Jean Schroeder
Owner	Annette TenBroeke
Development Cost	$385,305.00
Development Description	Telecommunications facility - mobile phone base station incorporating a 30 metre high monopole and associated infrastructure

 

Key Issues

·     Site selection

·     Detrimental visual impact on rural/residential character of the area

·     Flooding impacts

·     Radiofrequency Electromagnetic Energy impacts

 

Assessment

·     The application is for the installation of a 30m monopole to support the installation of four 5G panel antennas and other associated equipment. The overall height of the facility, including antennas and equipment, will not exceed 33.2m above ground level.

·     The application also includes other infrastructure contained within a 8m x 10m fenced compound including outdoor equipment cabinets and an elevated support platforms.

·     The proposed facility will be owned by the Indara Group (via lease over the subject site) and will host Optus telecommunications equipment. The facility will provide Optus 4G and 5G services to Lake Albert.

·     Under the provisions of the Wagga Wagga local Environmental Plan 2010 (LEP), the subject site is within the R5 Large Lot Residential zone. The application has been assessed as being consistent with the objectives of the R5 zone and consistent with all relevant clauses under the LEP.

·     The development is subject to the provisions of Division 21 of State Environmental Planning Policy (Transport and Infrastructure) 2021 (the SEPP) which deals with telecommunications and other communications facilities. Clause 2.4.3 (subclause (1)) of the SEPP identifies that development for the purposes of telecommunications facilities may be carried out by any person with consent on any land.

·     Clause 2.4.3 (subclause (2)) of the SEPP requires the consent authority to take into consideration the NSW Telecommunications Facilities Guideline, Including Broadband. The application has been considered against all relevant principles.

·     The principles under the guideline include site selection principles including the requirement to consider alternate sites and also potential co-location and upgrade opportunities.  Alternatives considered in the site selection process and also co-location and upgrade options have been detailed in the application.

·     The principles under the guideline include impacts associated minimising visual impact.  The application is accompanied by a visual impact assessment report.  The findings and recommendations of the report have been assessed and it is satisfied that the visual impact of the development is acceptable.

·     The principles of the guidelines include consideration of health standards for exposure to radio emissions. The application includes a report identifies the maximum EME level the site is compliant with relevant standards set by the Australian Radiation Protection and Nuclear Safety Agency (ARPANSA).

·     Having regard to all of the relevant principles under the guideline, no matters have been identified that would warrant refusal of the proposal.

·     The application has been assessed as being consistent with the relevant provisions of the Wagga Wagga Development Control Plan 2010 (DCP) including the public notification requirements under section 1.10.

·     A total of 18 public submissions were received during the notification period, all in objection to the proposal.  All matters raised in submissions have been considered in the assessment of the application.

·     The site is identified as subject to flooding during overland flow stormwater events.  Subject to recommended conditions of consent, the flooding impacts of the development are assessed as satisfactory having regard to the matters for consideration under the relevant provisions of both the LEP and DCP.

·     A comprehensive assessment report completed in accordance with the provisions of Section 4.15(1) of the Environmental Planning and Assessment Act 1979 is provided as an attachment to this report.  This assessment addresses all maters identified above in further detail and also considers all other relevant heads of consideration including the likely impacts of the development.

·     Having regard to this assessment, the application is recommended for approval subject to the inclusion of recommended conditions of consent.

 

Reasons for Approval

1.    The application is compliant with the provisions of State Environmental Planning Policy (Transport and Infrastructure) 2021 including the requirement for consideration against the NSW Telecommunications Facilities Guideline, Including Broadband.

2.    The proposed development is consistent with the objectives and provisions of the Wagga Wagga Local Environmental Plan 2010.

3.    The proposed development is generally consistent with the objectives and controls of the Wagga Wagga Development Control Plan 2010.

4.    The impacts of the proposed development are acceptable subject to the inclusion of recommended conditions of consent.

5.    The site is considered suitable for the proposed development and is in the public interest.

 

Site Location

The site is 13 Sycamore Road, Lake Albert (Lot 8 DP 716602). The site is located on the western side of Sycamore Road, approximately 150 metres north of its intersection with Elm Road. The site has an area of 2.15 hectares and contains an existing single storey residential dwelling.   The site is within the R5 Large Lot Residential zone under the Wagga Wagga Local Environmental Plan 2010 (LEP). The site is surrounded by other large lot residential properties as depicted in the aerial image below.

 

N/A

 

 

 

State Environmental Planning Policy (Transport and Infrastructure) 2021

Wagga Wagga Local Environmental Plan 2010

Wagga Wagga Development Control Plan 2010

 

The Environment

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

Ensure sustainable urban development

 

Approval of the application is not considered to raise risk management issues for Council as the proposed development is consistent with SEPP (Transport and Infrastructure) 2021, LEP and DCP controls.

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

Mail

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)

Have your Say

Email newsletter

Social media

Website

Inform

x

x

Consult

x

x

Involve

Collaborate

Other methods (please list specific details below)

 

 

 

1.	DA23/0579 - 4.15 Assessment Report - Provided under separate cover
2.	DA23/0579 - Plans - Provided under separate cover
3.	DA23/0579 - Statement of Environmental Effects - Provided under separate cover
4.	DA23/0579 - Visual Impact Assessment Report - Provided under separate cover
5.	DA23/0579 - Photomontage - Provided under separate cover
6.	DA23/0579 - Applicant response to submissions - Provided under separate cover
7.	DA23/0579 - Submissions (redacted) - Provided under separate cover

 

 

Report submitted to the Ordinary Meeting of Council on Monday 25 March 2024

RP-2

 

RP-2               RESPONSE TO MAYORAL MINUTE - 16 DAYS OF ACTIVISM IN WAGGA WAGGA

Author:         Alex Osgood 

Executive:    Janice Summerhayes

         

 

Summary:

In response to the 11 December 2023 Ordinary Council Meeting Mayoral Minute this report details the support that Council staff provide toward the prevention of Domestic and Family Violence in the Wagga Wagga Local Government Area.

 

 

That Council receive and note the report.

 

At the 11 December 2023 Ordinary Meeting of Council it was resolved (23/304):

 

That Council:

a       commend the Wagga Women’s Health Centre for their leadership in facilitating the 16 Days of Activism in Wagga Wagga. This will occur through a formal written acknowledgement from the Mayor’s office on behalf of Council and the community

b       receive a report from staff prior to 31 March 2024 that outlines Council staff involvement and activities that support prevention of Domestic and Family Violence

c        note Council’s adopted Advocacy Plan statement of commitment to the   prevention of Domestic and Family Violence being:

“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”

 

The following report has been developed in response to part b of the above resolution.

 

Context

Council staff play an active role collaborating with local not for profit organisations, government agencies and community groups to raise awareness of domestic and family violence (DFV) and in supporting the implementation of community-informed prevention and intervention strategies.  

 

It is important to note that Council is not a direct service provider as our community has state-funded local service providers contracted to lead and provide a range of domestic and family violence crisis and intervention support services. 

 

Based on the most recent data from the NSW Bureau of Crime Statistics and Research (BOCSAR), domestic and family violence incidents recorded by NSW Police statewide have remained stable in the two years to September 2023, but have increased significantly by 3.2% per year on average over the previous five years. The increase in recorded DFV assaults over the five years to September 2023 is being driven by increases in incidents reported in Regional NSW which is up 5.6% on average per year, while incidents in Greater Sydney remain stable for this period (BOCSAR, 2024). 

 

The most recent crime data available reveals that in the Wagga Wagga Local Government Area (WWLGA) between October 2022 and September 2023, 498 incidents of domestic violence related assault were recorded by NSW Police (BOCSAR, September 2023).  

 

From July 2024 coercive control will become a criminal offence in NSW. This is a critical gap in domestic and family violence statistical reporting. Coercive control is when a person uses abusive behaviours towards a current or former intimate partner with the intention to coerce or control them. From 1 July 2024 this criminal offence will capture the crime data on repeated patterns of physical or non-physical abuse used to hurt, scare, intimidate, threaten or control someone.

 

In 2019, Council staff led theDVproject:2650 which was a three-year state funded project that concluded in June 2021. The aim of the project was to educate the community on the causes of violence against women and their children, to promote gender equality and respect, and to challenge rigid gender roles and stereotypes detailed in a 2016 survey by the Wagga Women’s Health Centre. This community survey revealed concerning and damaging attitudes towards domestic violence and gender roles in our community. 

 

The DVproject:2650 focused on three key areas: 

1.   Organisational Change: creating an equitable and respectful workplace within Wagga Wagga City Council.

2.   Sector Engagement: collaborating with businesses, organisations, educational institutions, and sporting clubs across Wagga Wagga.

3.   Community-wide Campaigns: engaging with Wagga Wagga residents of all demographics.

 

A key component of the DVproject:2650 project was to recognise that violence against women is primarily driven by gender inequality and reinforced by several other factors and this has influenced Council staff work in the development and delivery of community programming going forward.  

 

As part of the DVproject: 2650 many collaborative projects were developed and led by Council staff in partnership with local non-profit organisations, schools, government agencies and community groups. Projects included but were not limited to the Enlighten for Equity youth-based project with local high schools located at Riverside, a partnership with Southern Sports Academy (SSA) to develop a suite of eLearning modules for their young athletes and community members, a partnership with the Wagga Business Chamber to engage local businesses in community initiatives over a 2-year period and a range of school-based programs.

 

Council staff were also engaged in a significant program of events and workforce/organisational training to cover key areas of inclusion, gender equality, recognising and responding to DFV, updating organisational policies and the active bystander effect.

 

Based on recommendations from the DVproject:2650 close out report delivered in June 202, it was recommended that Council’s role in preventing and reducing incidents of domestic and family violence should aim to ‘strengthen and promote gender equity through local leadership roles, networks, partnerships, services and as a significant community employer’ (ref page 53 in the report):

https://wagga.nsw.gov.au/community/programs-and-initiatives/thedvproject).

 

The recommendations of the DVproject:2650 report is reflected in Council’s Community Strategic Plan (CSP) 2024 under the key areas of Community Leadership and Collaboration, Safe and Health Community and the Community Safety Action Plan 2022-2026. Other key Council plans that work towards increasing safety and equality in our community include: 

·           Wagga Wagga City Council Cultural Plan 2020-2030 

·           Wagga Wagga Reconciliation Action Plan 2022-2024 

·           All Abilities Inclusion Action Plan 2022-2026 

·           Wagga Wagga Active Travel Plan 2022-2026 

·           Playground Strategy 2016-2036 

·           Recreation, Open Space and community Strategy and Implementation Plan 2040 

 

Council staff are currently undertaking a significant program of community consultation to inform the new Community Strategic Plan – Wagga Wagga 2050. As part of this community consultation process staff are currently taking every opportunity to connect and engage with our community to ensure that women and non-binary people play an active part in the consultation process. The CSP will guide Council's future activities around gender equality, creating safe spaces for women and ensure Council services consider the needs of community members and staff impacted by DFV.

 

Council’s community collaborations, programs and sector engagement

Council staff actively engage through regular meetings, partnership programs and campaigns with the following local interagency groups to ensure cross-collaboration on domestic and family violence issues:

·              Wagga Domestic Violence Liaison Committee (DVLC)

·              Triple H Forum (Housing, Humanitarian Services and Homelessness)

·              Wagga Youth Interagency Group

·              Wagga Aboriginal Interagency Group

·              Wagga Access Reference Committee

·              Wagga Community Drug Action Team

 

The 16 Days of Activism Against Gender-Based Violence is an annual international week of commemoration that commences on 25 November, the International Day for the Elimination of Violence against Women and concludes on the 10 December which is Human Rights Day. This campaign is a global call for the prevention and elimination of violence against women and girls. In 2023 Council staff partnered with Wagga Domestic Violence Liaison Committee, the Wagga Women’s Health Centre and Sisters Housing Enterprises to deliver the ‘No More Silence on Family and Domestic Violence’ campaign across the 16 Days of Activism. Including the Mayor Cr Dallas Tout, seven local identities from Wiradjuri community, Police, Health, Education and other sectors featured in the ‘No More Silence’ campaign.

 

In December 2023 staff led the coordination and launch of a twelve-month long community campaign. This included collateral consisting of 700 double-sided A3 posters with the seven local identities and key support contacts on the alternative side of the poster, 1000 palm-sized pamphlets listing national, state and local intervention and crisis services, a digital suite of assets for online promotion and five large bus stop signs strategically installed in key locations across the city. Staff worked closely with ten local support organisations for critical resource information to assist someone identifying and leaving DFV. Positive feedback has been received and a review of the campaign will be completed in late 2024.

 

Again, with other sectors staff are delivering community training, events, programs, exhibitions and performances focused on promoting support available and the impact of DFV on individuals, families and our community. Some examples of projects recently coordinated by staff include:

·   Free training presented at the Wagga Wagga City Library by Gender and Disaster Australia, funded by the Commonwealth Government through the National Plan to End Violence Against Women and Children 2022-2032 on 14 March 2024.

·   Free or subsidised training presented in community hubs across the city including “Understanding and Reporting Hate Crimes” with NSW Police Force, Youth Mental Health First Aid, and Volunteering Recruitment, Retention and Management.

·   Free community neighbourhood events like the Back-to-School Party at Chambers Park Tolland, in January 2023 and 2024. This provides families and young people access to key resources and information to start off the new year, as well as vital food relief, school and education supplies, menstruation products, mental health support services, and free haircuts in a relaxed community setting.

·   During Youth Week 2023, staff worked with Anglicare Financial Counselling to host a series of four free workshops around financial literacy, which is a key barrier to escaping violence and assisting survivors to become independent. These popular sessions covered superannuation, pay-now-buy-later programs, loans, rental management, basic budgeting to increase independence, and car maintenance skills.

·   In March 2023, key Council staff were trained in Crime Prevention Through Environmental Design. This training focuses on planning and the built environment to create safer neighbourhoods and is informed by known potential negative and criminal human behaviour when interacting with public spaces. 

 

Council’s cultural facilities staff deliver a diverse range of projects and programs to promote gender equality, connect people with support services and importantly provide safe public spaces for the community to discuss the complexities and responses to challenging issues such as DFV. For example, open seven days per week the Library provides a free and safe place for people to:

·   access information like legal resources and a wide range of support service resources.  

·   Access to a comprehensive physical and digital library for improving life skills and lifelong learning, and an agile library service across the WWLGA where other services can outreach with the library to communities.

·   access to a diverse calendar of free events and activities e.g., author talks, craft and reading groups, digital literacy programs like Tech Savvy Seniors and Tech Savvy community sessions, weekly language café program to support conversational English skills, the Learn English and Play (LEAP) program for parents, guardians and their young children to practise conversational English skills while participating in play-based and craft activities in various locations across the city.

 

Other cultural programming recently presented includes the powerful ‘Prima Facie’ by Suzie Miller at the Civic Theatre in 2023. This showcased the Australian legal system’s failure to provide reliable pathways to justice for women in rape, sexual assault, or harassment cases. The play sought to raise awareness of the injustices faced by women seeking to report and obtain justice, while provoking deeper conversations around gender equality in the courts, and discussions on the impact of gender-based violence.  The Museum of the Riverina also presented a local exhibition in 2023 highlighting the contribution of local women from culturally and linguistically diverse (CALD) backgrounds called ‘Stitches Across Generations: Katha/Nakshi Katha’ this display featured the art of katha quilting and led a discussion about the importance of women’s domestic work and caregiving. In 2024 staff at the Museum are preparing a new exhibition to launch in May 2024 named ‘Herstory’ documenting the lives and stories of a diverse range of local women through objects and photographs highlighting their contribution to the development of Wagga Wagga.

 

Other social programming includes Seniors Festival in March 2024 where staff have a number of local service providers providing a range of informative sessions on financial literacy, retirement planning, health and wellbeing programs for older people. Based on feedback from last year’s festival, Youth Week 2024 will also be expanded to deliver more life skills training programs on living independently, building knowledge about local support services like mental health services. Also, with Anglicare Financial Counselling and Mission Australia there will be a series of free youth workshops on financial skills and the Rent It Keep It program, along with presenting free first aid and barista training with the Riverina Community College to support young people to be job ready. 

 

As previously mentioned, Council staff are active members of the Triple H Forum, who meet on a quarterly basis to discuss sector gaps and organise local solutions. A concerning national statistic is the rise of older women experiencing homelessness. Council staff support the Homelessness Week Expo in the first week of August each year through ground event management and logistics support and promoting Council services to members of the homeless community such as the Wagga Wagga City Library service. During 2023 Council staff facilitated two Foodbank pop ups in collaboration with the Murrumbidgee Primary Health Network and the Triple H Forum members. The initial food relief pop up attracted over 800 vulnerable community members with the more recent December 2023 event drawing over 2,000 people from across the Wagga Wagga Local Government Area.  Currently staff are seeking funding to present another Foodbank emergency food relief pop up event during Homelessness Week 2024 in collaboration with local service providers.  

 

Working at Wagga Wagga City Council

As a major employer in the Wagga Wagga Local Government Area, Council is mindful of its commitment to support Council employees experiencing the impacts of DFV. As part of the DVproject: 2650 an Equity & Respect Workplace Toolkit 2021 with online resources was developed to support Council’s ongoing commitment to Gender equity in the workplace. Council staff currently have access to a diverse program of training opportunities including customer service, health and wellbeing, emotional intelligence, and financial literacy. Council staff experiencing DVF can access the Employee Assistance Program (EAP) to seek counselling support and staff (other than casual employees) are entitled to up to 10 days paid leave to deal with the impact of DFV for example staff fleeing a violent household and needing to establish safe alternative accommodation for themselves and their children.

 

Council’s Equal Employment Opportunity (POL 085) is based on the principle that ensures all staff and potential staff are treated equitably and fairly, regardless of their race, sex, marital status, transgender, age, physical or intellectual impairment, carers responsibility, homosexuality, or sexual preference. In line with this policy, Council is committed to providing a workplace environment free from discrimination, harassment and bullying for all prospective and existing employees, customers, and visitors.

 

DFV is a whole of community issue, with Council activities and leadership remaining an important contributor toward the prevention of DFV to affect change and prevention. Alongside this work, staff value and recognise the importance of community partnerships along with the ongoing work led by locally funded organisations providing front line DFV response and support services to our community.

 

N/A

Equal Employment Opportunity (EEP) Policy (POL 085)

 

Safe and Healthy Community

Objective: Our community feel safe

Promote safety and safe behaviours

NA

Internal staff from across the organisation were consulted in the development of this report including from the People and Culture division.

 

 

Wagga Wagga City Council 2021, theDVproject:2650 Closeout Report, visit https://wagga.nsw.gov.au/community/programs-and-initiatives/thedvproject  

 

Wagga Wagga City Council 2021, Equity & Respect Workplace Toolkit 2021, visit https://wagga.nsw.gov.au/community/programs-and-initiatives/thedvproject 

 

Wagga Wagga City Council 2022, Equal Employment Opportunity (EEO) Policy, visit: https://wagga.nsw.gov.au/__data/assets/pdf_file/0018/5634/Equal-Employment-Opportunity-POL-085..pdf  

 

Commonwealth of Australia 2022, The National Plan to End Violence against Women and Children 2022-2032, visit: https://www.dss.gov.au/ending-violence  

 

Wagga Wagga City Council et al. 2023, No More Silence about Domestic and Family Violence, visit: https://wagga.nsw.gov.au/community/programs-and-initiatives/no-more-silence  

 

Report submitted to the Ordinary Meeting of Council on Monday 25 March 2024

RP-3

 

RP-3               FINANCIAL PERFORMANCE REPORT AS AT 29 FEBRUARY 2024

Author:          Carolyn Rodney 

         

 

Summary:

This report is for Council to consider information presented on the 2023/24 budget and Long-Term Financial Plan, and details Council’s external investments and performance as at 29 February 2024.

 

 

Recommendation That Council: a       approve the proposed 2023/24 budget variations for the month ended 29 February 2024 and note the balanced budget position as presented in this report b       approve the proposed budget variations to the 2023/24 Long Term Financial Plan Capital Works Program including new projects and 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 29 February 2024 in accordance with section 625 of the Local Government Act 1993

 

Wagga Wagga City Council (Council) forecasts a balanced budget position as of 29 February 2024.

 

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 February when compared to budget ($409,649 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 higher than anticipated investment portfolio balance.

 

Key Performance Indicators

 

 

 

OPERATING INCOME

Total operating income is 70% of approved budget and is tracking ahead for the month of February 2024. 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 90% when compared to budget.

 

OPERATING EXPENSES

Total operating expenditure is 67% of approved budget and is tracking on budget at this stage of the financial year.

 

CAPITAL INCOME

Total capital income is 58% 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.

 

CAPITAL EXPENDITURE

Total capital expenditure including commitments is 61% of approved budget including pending projects.  Excluding commitments, the total expenditure is 34% when compared to the approved budget.

 

WAGGA WAGGA CITY COUNCIL STATEMENT OF FINANCIAL PERFORMANCE 1 JULY 2023 TO 29 FEBRUARY 2024
CONSOLIDATED STATEMENT
	ORIGINAL BUDGET 2023/24	BUDGET ADJ 2023/24	APPROVED BUDGET 2023/24	YTD ACTUAL   EXCL COMMT'S 2023/24	COMMT'S 2023/24	YTD ACTUAL + COMMT'S 2023/24	YTD % OF BUD
Revenue
Rates & Annual Charges	(79,700,947)	0	(79,700,947)	(52,608,145)	0	(52,608,145)	66%
User Charges & Fees	(32,607,964)	2,042,180	(30,565,784)	(20,344,062)	0	(20,344,062)	67%
Other Revenues	(3,040,358)	(89,000)	(3,129,358)	(4,119,695)	0	(4,119,695)	132%
Grants & Contributions provided for Operating Purposes	(13,891,687)	6,060,888	(7,830,799)	(4,692,909)	0	(4,692,909)	60%
Grants & Contributions provided for Capital Purposes	(43,630,578)	(6,277,308)	(49,907,886)	(30,551,527)	0	(30,551,527)	61%
Interest & Investment Revenue	(4,873,916)	0	(4,873,916)	(6,076,843)	0	(6,076,843)	125%
Other Income	(1,564,445)	(22,667)	(1,587,112)	(1,241,955)	0	(1,241,955)	78%
Total Revenue	(179,309,895)	1,714,093	(177,595,802)	(119,635,137)	0	(119,635,137)	67%
Expenses
Employee Benefits & On-Costs	56,172,711	463,830	56,636,540	34,184,751	0	34,184,751	60%
Borrowing Costs	3,363,314	0	3,363,314	2,118,014	0	2,118,014	63%
Materials & Services	41,316,274	15,483,871	56,800,145	32,850,706	8,725,390	41,576,095	73%
Depreciation & Amortisation	44,291,577	0	44,291,577	29,527,718	0	29,527,718	67%
Other Expenses	1,954,429	233,560	2,187,989	1,235,928	366,167	1,602,095	73%
Total Expenses	147,098,304	16,181,261	163,279,565	99,917,116	9,091,557	109,008,673	67%
Net Operating (Profit)/Loss	(32,211,591)	17,895,354	(14,316,237)	(19,718,021)	9,091,557	(10,626,464)
Net Operating Result Before Capital (Profit)/Loss	11,418,987	24,172,662	35,591,649	10,833,507	9,091,557	19,925,063
Cap/Reserve Movements
Capital Expenditure - One Off Confirmed	33,539,246	29,499,796	64,454,617	22,991,339	19,758,264	42,749,602	66%
Capital Expenditure - Recurrent	21,649,500	9,217,755	30,460,950	8,074,255	7,339,875	15,414,130	51%
Capital Expenditure - Pending Projects	38,732,266	(36,944,891)	778,105	28,249	2,800	31,049	0%
Loan Repayments	7,523,436	0	7,523,436	4,348,957	0	4,348,957	58%
New Loan Borrowings	(10,609,635)	7,043,364	(3,566,271)	0	0	0	0%
Sale of Assets	(1,490,575)	(2,317,180)	(3,807,755)	(741,835)	0	(741,835)	19%
Net Movements Reserves	(12,841,071)	(24,394,198)	(37,235,269)	0	0	0	0%
Total Cap/Res Movements	76,503,167	(17,895,354)	58,607,814	34,700,965	27,100,939	61,801,904
Net Result after Depreciation	44,291,577	0	44,291,577	14,982,944	36,192,496	51,175,440
Add back Depreciation Expense	44,291,577	0	44,291,577	29,527,718	0	29,527,718	67%
Cash Budget (Surplus)/Deficit	0	0	0	(14,544,773)	36,192,496	21,647,722

 

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

 

* Please note that Council is currently reviewing the 2024/25 Long Term Financial Plan, and will place the draft plan on public exhibition over the coming months.  The above table includes the current adopted position.

 

 

 

 

 

 

 

 

2023/24 Revised Budget Result – (Surplus) / Deficit	$’000s
Original 2023/24 Budget Result as adopted by Council Total Budget Variations approved to date. Budget Variations for February 2024	$0K $0K $0K
Proposed Revised Budget result for 29 February 2024 - (Surplus) / Deficit	$0K

 

The proposed Operating and Capital Budget Variations for 29 February 2024 which affect the current 2023/24 financial year are listed below.

 

 

An extensive review of Council’s Plant Purchases and Plant Sales has been undertaken by Council Officers, with the net result being adjusted in the Plant Replacement Reserve.

 

Current	2024/25	2025/26	2026/27	2027/28	2028/29	2029/30	2030/31	2031/32	2032/33
Plant Sales	(604,250)	(1,043,500)	(1,558,175)	(1,101,500)	(914,050)	(1,285,375)	(910,000)	(910,000)	(910,000)
Plant Purchases	3,787,200	5,066,500	3,297,600	5,961,500	4,132,400	3,851,500	4,514,500	4,514,500	4,514,500
Net Result (Reserve)	(3,182,950)	(4,023,000)	(1,739,425)	(4,860,000)	(3,218,350)	(2,566,125)	(3,604,500)	(3,604,500)	(3,604,500)

 

Proposed	2024/25	2025/26	2026/27	2027/28	2028/29	2029/30	2030/31	2031/32	2032/33
Plant Sales	(1,495,000)	(1,427,375)	(1,197,635)	(1,438,500)	(1,658,875)	(1,774,125)	(1,454,125)	(1,253,500)	(1,080,500)
Plant Purchases	5,980,000	5,709,500	4,790,539	5,754,000	6,635,500	7,096,500	5,816,500	5,014,000	4,322,000
Net Result (Reserve)	(4,485,000)	(4,282,125)	(3,592,904)	(4,315,500)	(4,976,625)	(5,322,375)	(4,362,375)	(3,760,500)	(3,241,500)

 

The following projects have been reviewed and it is being proposed to bring forward funds to allow for the required works to be undertaken in 2023/24. There has been no change to the total budgets of the projects.

 

Job No.	Project Title	2023/24 Current One-Off Confirmed	2023/24 Proposed One-Off Confirmed	2024/25 Current	2024/25 Proposed	2025/26 Current	2025/26 Proposed	Future Years (No Change)
12922	Glenfield Rd Corridor Works TT1	0	50,000	71,950	71,950	3,202,219	3,152,219	15,885,949
21931	Active Travel Plan Stage 3	807,543	957,543	150,000	0	0	0	0

 

 

2023/24 Capital Works Summary

 

Capital Works	Approved Budget	Proposed Movement	Proposed Budget
One-off	$64,484,617	$217,500	$64,702,117
Recurrent	$30,460,950	$0	$30,460,950
Pending	$748,105	$0	$748,105
Total Capital Works	$95,693,672	$217,500	$95,911,172

 

 

 

Current Restrictions

 

 

RESERVES SUMMARY
29 FEBRUARY 2023
	CLOSING BALANCE 2022/23	ADOPTED RESERVE TRANSFERS 2023/24	BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 26.2.2024	PROPOSED CHANGES for Council Resolution*	BALANCE AS AT 29 FEBRUARY 2023
Externally Restricted
Developer Contributions - Section 7.11	(33,518,693)	5,650,317	(2,146,653)	86,480	(29,928,549)
Developer Contributions - Section 7.12	(427,766)	(28,137)	0		(455,903)
Developer Contributions - Stormwater Section 64	(7,952,971)	461,121	(1,003,403)		(8,495,253)
Sewer Fund	(45,473,006)	(486,810)	(2,160,039)		(48,119,854)
Solid Waste	(28,001,560)	1,115,349	(935,606)		(27,821,816)
Specific Purpose Unexpended Grants & Contributions	(13,419,243)	0	13,419,243		0
SRV Levee Reserve	(6,316,594)	0	46,718		(6,269,877)
Stormwater Levy	(5,350,848)	3,299,121	(2,906,312)		(4,958,039)
Total Externally Restricted	(140,460,680)	10,010,962	4,313,948	86,480	(126,049,291)
Internally Restricted
Additional Special Variation (ASV)	(630,214)	(304,627)	0		(934,841)
Airport	0	0	0		0
Art Gallery	(3,804)	0	0		(3,804)
Bridge Replacement	(277,544)	0	40,739		(236,805)
Buildings	(1,816,155)	222,330	255,413		(1,338,412)
CCTV	(47,471)	12,476	0		(34,995)
Cemetery	(1,246,587)	(240,585)	30,437		(1,456,735)
Civic Theatre	(127)	0	0		(127)
Civil Infrastructure	(8,750,164)	1,975,590	623,233		(6,151,341)
Council Election	(305,964)	(117,566)	0		(423,531)
Economic Development	(407,131)	0	388,773		(18,358)
Emergency Events Reserve	(245,427)	(91,807)	50,000		(287,235)
Employee Leave Entitlements Gen Fund	(3,604,926)	0	0		(3,604,926)
Environmental Conservation	(116,578)	0	0		(116,578)
Event Attraction	(969,436)	0	728,755		(240,681)
Financial Assistance Grants in Advance	(12,361,442)	0	12,361,442		0
Grant Co-Funding	(500,000)	0	0		(500,000)
Gravel Pit Restoration	(807,726)	13,333	26,500		(767,892)
Information Services	(2,419,649)	906,761	92,772		(1,420,116)
Insurance Variations	(50,000)	0	0		(50,000)
Internal Loans	(6,215,667)	(768,775)	240,226		(6,744,217)
Lake Albert Improvements	(127,751)	38,377	0	50,000	(39,374)
Library	(166,718)	(155,915)	0		(322,633)
Livestock Marketing Centre	(6,581,531)	1,077,258	4,194,727		(1,309,546)
Museum Acquisitions	(54,612)	10,000	0	10,000	(34,612)

 

 

 

 

 

 

Investment Summary as at 29 February 2024

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

Institution	Rating	Closing Balance Invested 31/01/2024 $	Closing Balance Invested 29/02/2024 $	February EOM Current Yield %	February EOM % of Portfolio	Investment Date	Maturity Date	Term (mths)
At Call Accounts
NAB	AA-	288,105	523,069	4.35%	0.22%	N/A	N/A	N/A
CBA	AA-	2,005,962	10,656,345	4.35%	4.58%	N/A	N/A	N/A
CBA	AA-	17,865,441	16,939,436	4.40%	7.27%	N/A	N/A	N/A
Macquarie Bank	A+	9,546,961	9,579,152	4.15%	4.11%	N/A	N/A	N/A
Total At Call Accounts		29,706,469	37,698,002	4.32%	16.19%
Short Term Deposits
AMP	BBB	1,000,000	1,000,000	5.40%	0.43%	15/11/2023	15/11/2024	12
Australian Military Bank	BBB+	1,000,000	1,000,000	5.06%	0.43%	24/05/2023	24/05/2024	12
Australian Unity	BBB+	1,000,000	1,000,000	5.44%	0.43%	8/06/2023	11/06/2024	12
ING Bank	A	2,000,000	2,000,000	5.62%	0.86%	26/06/2023	26/06/2024	12
ING Bank	A	2,000,000	2,000,000	5.65%	0.86%	30/06/2023	28/06/2024	12
Heritage and People's Choice	BBB+	1,000,000	1,000,000	5.80%	0.43%	10/07/2023	10/07/2024	12
CBA	AA-	2,000,000	2,000,000	5.27%	0.86%	31/08/2023	30/08/2024	12
Australian Unity	BBB+	1,000,000	1,000,000	5.49%	0.43%	27/11/2023	27/11/2024	12
Suncorp	A+	2,000,000	2,000,000	5.46%	0.86%	30/11/2023	29/11/2024	12
ING Bank	A	1,000,000	1,000,000	5.46%	0.43%	30/11/2023	29/11/2024	12
BankVic	BBB+	1,000,000	1,000,000	5.45%	0.43%	4/12/2023	4/12/2024	12
AMP	BBB	2,000,000	2,000,000	5.35%	0.86%	14/12/2023	16/12/2024	12
Australian Unity	BBB+	1,000,000	1,000,000	5.19%	0.43%	30/01/2024	30/01/2025	12
Total Short Term Deposits		18,000,000	18,000,000	5.44%	7.73%
Medium Term Deposits
BOQ	BBB+	1,000,000	1,000,000	3.78%	0.43%	1/06/2022	3/06/2024	24
Westpac	AA-	2,000,000	2,000,000	1.32%	0.86%	28/06/2021	29/06/2026	60
Westpac	AA-	2,000,000	2,000,000	1.80%	0.86%	15/11/2021	17/11/2025	48
ICBC	A	2,000,000	2,000,000	2.03%	0.86%	6/11/2019	6/11/2024	60
ICBC	A	2,000,000	2,000,000	1.83%	0.86%	28/11/2019	28/11/2024	60
BOQ	BBB+	1,000,000	1,000,000	2.00%	0.43%	28/02/2020	28/02/2025	60
Police Credit Union	NR	1,000,000	1,000,000	2.20%	0.43%	1/04/2020	1/04/2025	60
ICBC	A	1,000,000	1,000,000	1.85%	0.43%	29/05/2020	29/05/2025	60
ICBC	A	1,000,000	1,000,000	1.86%	0.43%	1/06/2020	2/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.86%	25/06/2020	25/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.86%	25/06/2020	25/06/2025	60
ICBC	A	2,000,000	2,000,000	1.60%	0.86%	29/06/2020	28/06/2024	48
ICBC	A	3,000,000	3,000,000	5.07%	1.29%	30/06/2022	30/06/2027	60
ICBC	A	2,000,000	2,000,000	1.42%	0.86%	7/07/2020	8/07/2024	48
ICBC	A	2,000,000	2,000,000	1.50%	0.86%	17/08/2020	18/08/2025	60
BoQ	BBB+	1,000,000	1,000,000	1.25%	0.43%	7/09/2020	8/09/2025	60
BoQ	BBB+	2,000,000	2,000,000	1.25%	0.86%	14/09/2020	15/09/2025	60
NAB	AA-	1,000,000	1,000,000	5.23%	0.43%	14/09/2023	16/09/2024	12
ICBC	A	1,000,000	1,000,000	1.20%	0.43%	7/12/2020	8/12/2025	60
NAB	AA-	2,000,000	2,000,000	0.95%	0.86%	29/01/2021	29/01/2026	60
NAB	AA-	1,000,000	1,000,000	1.08%	0.43%	22/02/2021	20/02/2026	60
NAB	AA-	2,000,000	2,000,000	1.25%	0.86%	3/03/2021	2/03/2026	60
NAB	AA-	2,000,000	2,000,000	1.40%	0.86%	21/06/2021	19/06/2026	60
Westpac	AA-	2,000,000	2,000,000	1.32%	0.86%	25/06/2021	25/06/2026	60
ICBC	A	1,000,000	1,000,000	1.32%	0.43%	25/08/2021	25/08/2026	60
AMP	BBB	2,000,000	2,000,000	1.00%	0.86%	18/10/2021	17/10/2024	36
Westpac	AA-	2,000,000	2,000,000	1.56%	0.86%	30/11/2021	29/11/2024	36
Westpac	AA-	2,000,000	2,000,000	2.00%	0.86%	8/02/2022	10/02/2025	36
P&N Bank	BBB	2,000,000	2,000,000	2.40%	0.86%	9/03/2022	10/03/2025	36
P&N Bank	BBB	2,000,000	2,000,000	2.00%	0.86%	10/03/2022	11/03/2024	24
MyState	BBB	2,000,000	2,000,000	2.20%	0.86%	2/03/2022	3/03/2025	36
CBA	AA-	2,000,000	2,000,000	3.28%	0.86%	26/04/2022	26/04/2024	24
CBA	AA-	2,000,000	2,000,000	3.78%	0.86%	4/05/2022	6/05/2024	24
CBA	AA-	2,000,000	2,000,000	3.99%	0.86%	4/05/2022	5/05/2025	36
ING Bank	A	1,000,000	1,000,000	3.76%	0.43%	23/05/2022	23/05/2024	24
ICBC	A	2,000,000	2,000,000	3.95%	0.86%	6/06/2022	6/06/2024	24
Australian Unity	BBB+	2,000,000	2,000,000	4.15%	0.86%	8/06/2022	11/06/2024	24
MyState	BBB	2,000,000	2,000,000	4.45%	0.86%	29/06/2022	28/06/2024	24
BoQ	BBB+	1,000,000	1,000,000	4.50%	0.43%	7/07/2022	7/07/2025	36
CBA	AA-	1,000,000	1,000,000	4.25%	0.43%	12/08/2022	12/08/2025	36
P&N Bank	BBB	3,000,000	3,000,000	4.55%	1.29%	29/08/2022	29/08/2025	36
Australian Military Bank	BBB+	2,000,000	2,000,000	4.55%	0.86%	2/09/2022	2/09/2025	36
P&N Bank	BBB	1,000,000	1,000,000	4.40%	0.43%	9/09/2022	9/09/2025	36
BoQ	BBB+	1,000,000	1,000,000	4.70%	0.43%	4/10/2022	4/10/2024	24
AMP	BBB	2,000,000	2,000,000	4.95%	0.86%	21/10/2022	21/10/2024	24
ICBC	A	2,000,000	2,000,000	5.20%	0.86%	21/10/2022	21/10/2025	36
AMP	BBB	1,000,000	1,000,000	4.75%	0.43%	15/11/2022	14/11/2024	24
AMP	BBB	1,000,000	1,000,000	4.80%	0.43%	21/11/2022	20/11/2025	36
P&N Bank	BBB	2,000,000	2,000,000	4.75%	0.86%	16/12/2022	16/12/2024	24
Police Credit Union	NR	2,000,000	2,000,000	5.04%	0.86%	15/02/2023	17/02/2025	24
Police Credit Union	NR	2,000,000	2,000,000	4.94%	0.86%	14/03/2023	14/03/2025	24
P&N Bank	BBB	2,000,000	2,000,000	5.00%	0.86%	14/03/2023	15/03/2027	48
Hume Bank	BBB+	2,000,000	2,000,000	4.75%	0.86%	31/03/2023	31/03/2025	24
Auswide	BBB	2,000,000	2,000,000	4.95%	0.86%	13/04/2023	13/04/2026	36
P&N Bank	BBB	2,000,000	2,000,000	5.20%	0.86%	20/04/2023	20/04/2027	48
P&N Bank	BBB	1,000,000	1,000,000	5.20%	0.43%	26/05/2023	26/05/2026	36
ING Bank	A	2,000,000	2,000,000	5.37%	0.86%	21/08/2023	21/08/2025	24
P&N Bank	BBB	1,000,000	1,000,000	5.45%	0.43%	30/11/2023	28/11/2025	24
ING Bank	A	2,000,000	2,000,000	5.20%	0.86%	14/12/2023	15/12/2025	24
ING Bank	A	2,000,000	2,000,000	5.14%	0.86%	3/01/2024	5/01/2026	24
P&N Bank	BBB	2,000,000	2,000,000	5.10%	0.86%	4/01/2024	4/01/2027	36
Suncorp	A+	1,000,000	1,000,000	5.08%	0.43%	8/01/2024	8/01/2026	24
Total Medium Term Deposits		106,000,000	106,000,000	3.30%	45.52%
Floating Rate Notes - Senior Debt
Westpac	AA-	2,534,028	2,510,166	BBSW + 88	1.08%	16/05/2019	16/08/2024	63
Suncorp	A+	1,251,432	1,256,881	BBSW + 78	0.54%	30/07/2019	30/07/2024	60
ANZ	AA-	2,022,241	2,003,782	BBSW + 77	0.86%	29/08/2019	29/08/2024	60
HSBC	AA-	2,517,982	2,527,891	BBSW + 83	1.09%	27/09/2019	27/09/2024	60
ANZ	AA-	1,507,409	1,513,693	BBSW + 76	0.65%	16/01/2020	16/01/2025	60
NAB	AA-	2,008,469	2,016,949	BBSW + 77	0.87%	21/01/2020	21/01/2025	60
Newcastle Permanent	BBB	1,113,455	1,104,626	BBSW + 112	0.47%	4/02/2020	4/02/2025	60
Macquarie Bank	A+	2,027,693	2,010,512	BBSW + 84	0.86%	12/02/2020	12/02/2025	60
BOQ Covered	AAA	558,580	553,839	BBSW + 107	0.24%	14/05/2020	14/05/2025	60
UBS	A+	1,500,048	1,508,074	BBSW + 87	0.65%	30/07/2020	30/07/2025	60
CBA	AA-	2,000,110	2,011,215	BBSW + 70	0.86%	14/01/2022	14/01/2027	60
Rabobank	A+	1,992,628	2,003,179	BBSW + 73	0.86%	27/01/2022	27/01/2027	60
Newcastle Permanent	BBB	997,358	991,003	BBSW + 100	0.43%	10/02/2022	10/02/2027	60
NAB	AA-	2,416,955	2,399,863	BBSW + 72	1.03%	25/02/2022	25/02/2027	60
Bendigo-Adelaide	BBB+	1,663,729	1,671,456	BBSW + 98	0.72%	17/03/2022	17/03/2025	36
ANZ	AA-	2,032,979	2,017,084	BBSW + 97	0.87%	12/05/2022	12/05/2027	60
NAB	AA-	1,723,266	1,708,882	BBSW + 90	0.73%	30/05/2022	30/05/2025	36
Suncorp	A+	911,571	905,110	BBSW + 93	0.39%	22/08/2022	22/08/2025	36
ANZ	AA-	2,562,475	2,541,120	BBSW + 120	1.09%	4/11/2022	4/11/2027	60
NAB	AA-	2,554,376	2,533,522	BBSW + 120	1.09%	25/11/2022	25/11/2027	60
Suncorp	A+	1,113,900	1,124,897	BBSW + 125	0.48%	14/12/2022	14/12/2027	60
CBA	AA-	2,024,489	2,035,958	BBSW + 115	0.87%	13/01/2023	13/01/2028	60
Bank Australia	BBB	1,927,802	1,909,915	BBSW + 155	0.82%	22/02/2023	22/02/2027	48
Bendigo-Adelaide Covered	AAA	1,008,409	1,015,334	BBSW + 115	0.44%	16/06/2023	16/06/2028	60
CBA	AA-	2,532,468	2,512,356	BBSW + 95	1.08%	17/08/2023	17/08/2028	60
ANZ	AA-	2,117,516	2,129,778	BBSW + 93	0.91%	11/09/2023	11/09/2028	60
Bank Australia	BBB	1,652,490	1,661,338	BBSW + 150	0.71%	30/10/2023	30/10/2026	36
ANZ	AA-	0	2,514,641	BBSW + 96	1.08%	5/02/2024	5/02/2029	60
Total Floating Rate Notes - Senior Debt		48,273,858	50,693,063		21.77%
Fixed Rate Bonds
ING Covered	AAA	690,549	686,703	1.10%	0.29%	19/08/2021	19/08/2026	60
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.00%	1.29%	24/08/2021	16/12/2024	40
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.50%	1.29%	24/08/2021	15/12/2026	64
BoQ	BBB+	1,766,996	1,768,348	2.10%	0.76%	27/10/2021	27/10/2026	60
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.50%	0.86%	6/08/2021	15/12/2026	64
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.50%	0.43%	14/07/2021	15/12/2026	65
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.30%	0.86%	29/04/2021	15/06/2026	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.86%	30/11/2020	15/12/2025	60
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.00%	0.43%	20/11/2020	15/12/2025	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.86%	21/10/2020	15/12/2025	62
Total Fixed Rate Bonds		18,457,545	18,455,051	1.30%	7.92%
Managed Funds
NSW Tcorp	NR	1,979,237	2,030,650	2.60%	0.87%	17/03/2014	1/02/2029	178
Total Managed Funds		1,979,237	2,030,650	2.60%	0.87%
TOTAL CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		222,417,109	232,876,765		100.00%
LESS: RIVERINA REGIONAL LIBRARY (RRL) CASH AT BANK		2,501,300	2,495,075
TOTAL WWCC CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		219,915,809	230,381,690

 

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 16%, with Floating Rate Notes (FRNs) around 22%, fixed rate bonds around 8% 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 increased over the past month, up from $219.92M to $230.38M. This is reflective of the third quarter rates instalments being due as at 29 February 2024.

 

 

Monthly Investment Movements

 

Redemptions/Sales – Council did not redeem or sell any investment securities during February 2024.

 

New Investments – Council purchased the following investment security during February 2024:

 

 

Rollovers – Council did not roll over any investment securities during February 2024.

 

Monthly Investment Performance

 

Interest/growth/capital gains/(losses) for the month totalled $794,514, which compares favourably with the budget for the period of $384,865 - outperforming budget for the month by $409,649.

 

Council’s outperformance to budget for February is mainly due to better than budgeted returns on Councils investment portfolio as well as a higher than anticipated investment portfolio balance. 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 November 2023 bringing the cash rate to 4.35% 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 February, with the fund returning +2.60% (or +$51,413) as domestic (+0.79%) and international (+4.22%) shares provided modest gains for the month.

 

 

In comparison to the AusBond Bank Bill Index* of 4.43% (annualised), Council’s investment portfolio returned 3.84% (annualised) for the month of February. This underperformance against the benchmark for the month is mainly due to lower returns on fixed deposits and bonds due to a proportion of these being locked in prior to the unexpected RBA rate hikes, as well as aggressive increases in the AusBond Bank Bill index due to the current interest rate environment. On Cash and At‑Call accounts returned 4.35% (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 3.66%, marginally underperforming the AusBond Bank Bill index by -0.44%. Councils investment portfolio has continued to outperform the AusBond Bank Bill Index* over the longer-term time period, returning 2.41% per annum over the past 3 years – outperforming the benchmark by 0.46% over this time.

 

 

* 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

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 2023/24 to 2032/33