Agenda and
Business Paper

 

Ordinary Meeting of Council

 

 

 

To be held on
Monday 25 November 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

Councillor Dallas Tout                           Councillor          Georgie Davies

Mayor                                                       Deputy Mayor

Councillor Allana Condron                   Councillor Richard Foley

Councillor Tim Koschel                         Councillor Jenny McKinnon

Councillor Amelia Parkins                    Councillor Karissa Subedi

Councillor Lindsay Tanner

 

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

Monday 25 November 2024

ORDER OF BUSINESS:

CLAUSE               PRECIS                                                                                       PAGE

ACKNOWLEDGEMENT OF COUNTRY                                                                          2

REFLECTION                                                                                                                2

APOLOGIES                                                                                                                 2

Confirmation of Minutes

CM-1           ORDINARY COUNCIL MEETING - 11 NOVEMBER 2024                             2

DECLARATIONS OF INTEREST                                                                                    2

Motions Of Which Due Notice Has Been Given

NOM-1         NOTICE OF MOTION - ROAD RENEWAL FUNDING                                   3

NOM-2         NOTICE OF MOTION - PROPOSAL TO INVESTIGATE THE NATIONALISATION OF REX AIRLINES                                                                                                   5

Reports from Staff

RP-1            PETITION - ONGOING MAINTENANCE ISSUES OF SENIORS COMMUNITY CENTRE  7

RP-2            Draft Destination Management Plan 2025-2034                         10

RP-3            Presentation of the 2023/24 Financial Statements                  17

RP-4            FINANCIAL PERFORMANCE REPORT AS AT 31 OCTOBER 2024           19

RP-5            REQUEST FOR FINANCIAL ASSISTANCE - SECTION 356                       51

RP-6            Boundary Adjustment - Wagga Cricket Ground - 111 Kincaid Street, Wagga Wagga                                                                                     55

RP-7            HARRIS PARK AMENITIES UPGRADE                                                     60

RP-8            DRAFT Submission to Discussion Paper - Councillor Conduct and Meeting Practices                                                                             64

RP-9            CODE OF CONDUCT STATISTICS                                                           70

RP-10          RESOLUTIONS AND NOTICES OF MOTIONS REGISTERS                      77

RP-11          QUESTIONS WITH NOTICE                                                                      79    

Confidential Reports

CONF-1       Gregadoo Waste Management Centre                                        87

CONF-2       LAKE ALBERT WATER TREATMENT                                                      88

 

 

 

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 NOVEMBER 2024       

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

 

 

1⇩.

Minutes - Ordinary Council Meeting - 11 November 2024

89

 

 

DECLARATIONS OF INTEREST

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

NOM-1

 

Motions Of Which Due Notice Has Been Given

NOM-1           NOTICE OF MOTION - ROAD RENEWAL FUNDING

Author:          Councillor Lindsay Tanner

 

Summary:

The purpose of this notice of motion is to propose a solution to begin to address the shortfall in road renewal funding.

 

 

That Council staff provide a report outlining the funding made available for road renewal funding if every line item in Councils budget excluding staff costs is reduced by 5%. The report is to identify any risks to the budget created by this proposal, as well as indicating the potential increase in road renewal the proposal would generate.

Our community has been calling for Council to address the condition of the road network for at least the last two terms of council, with graffiti asking council to get this done appearing on fences, social media posts full of remarks on Wagga Wagga's poor road network, and much discussion during the election with residents on the topic. The call to 'fix our roads' is loud and consistent from our community and must be heard.

 

Staff and Contractors involved in maintaining and renewing our road network do a fantastic job with the resources and budget available to them, but their ability is constrained by budget.

 

The Wagga Wagga City Transport Assets Asset Management Plan 2022-2026 identifies $882,574,431 of Transport Assets with $580,229,905 of that amount being attributed to the value of the sealed road network. The Transport Asset Plan states' the anticipated planned budget for transport assets leaves a shortfall of $7,973,309 on average per year of the forecast lifecycle costs required to provide services in the Asset Management Plan.

 

The Plan also states, 'we currently do not allocate enough budget to sustain these services at the proposed standards.' These include no renewal of bridges, carparks and footpaths.

 

Council operates a sealed road network of 1212 kilometres across the LGA. Of these roads the Asset Management Plan identifies 47.43% of the network, 574 kilometres, has pavement condition of 3 or worse. The pavement condition is a direct indicator to road users of 'roughness' as the pavement creates the 'shape' of the road. 39.02% or 473 kilometres of the seal or surface on top of the pavement is identified in condition 3 or worse.

 

The Asset Management Plan identifies a requirement of $106 Million over the life of the Long Term Financial Plan to renew both pavement and seal for all condition 4 and 5 sealed roads. that is to say that it will take 10 years to renew the road network that is identified as requiring attention today.

 

With increases in traffic across the network over that time, the deterioration to the asset will accelerate and the number of kilometres of sealed road requiring renewal will continue to grow, creating a circumstance whereby the sealed road asset will continue to deteriorate faster than it can be renewed.

 

This Notice of Motion recognises that there is no 'silver bullet' to the resolution of the sealed road asset base deterioration and renewal but does propose a means of accelerating Councils allocation of budget towards addressing this concern from our community.

 

N/A

Wagga Wagga City Council 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

 

1.

Transport-Asset-Management-Plan-2022-2026 - Provided under separate cover.

 

 

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

NOM-2

 

NOM-2           NOTICE OF MOTION - PROPOSAL TO INVESTIGATE THE NATIONALISATION OF REX AIRLINES

Author:          Councillor Richard Foley

 

Summary:

This Notice of Motion directs the Mayor to formally advocate to the Prime Minister Hon Anthony Albanese to investigate the nationalisation of Rex Airlines highlighting its importance to regional jobs and connectivity, while seeking a clear analysis of the benefits, drawbacks, and future aviation policy.

 

That Council:

a       directs the Mayor to write to the Federal Government advocating for the investigation and consideration of the nationalisation of Rex Airlines (Regional Express) as a means to ensure long-term regional connectivity, economic resilience, and equitable access to critical air services for regional communities

b       directs the Mayor to include in the correspondence a request for the Federal Government to prepare and present a comprehensive report detailing:

i         reasons in Favour of Nationalisation: Including, but not limited to, the economic development of regional areas, stabilisation of essential air services, support for tourism, the creation and preservation of jobs, and addressing market failures in the aviation sector

ii        reasons Against Nationalisation: Such as potential financial burdens on taxpayers, operational challenges, and implications for competition within the aviation industry

c        highlights in the letter the vital role Rex Airlines plays in supporting local jobs and bolstering local businesses in the Riverina, which in turn strengthens other regional centres nationwide. The letter should emphasise the need to protect these essential services for the benefit of regional Australians

d       directs the Mayor to urge the Federal Government to engage with key stakeholders, including regional councils, local businesses, and community representatives, to understand the social, economic, and practical impacts of nationalisation

e       requests clarification from the Federal Government on its broader aviation policy and strategic vision for regional air connectivity, ensuring that any decision aligns with the long-term needs of regional Australia

The nationalisation of Rex Airlines represents a strategic investment in the future of Wagga Wagga and regional Australia. As one of the few airlines dedicated to serving regional communities, Rex provides critical air connectivity that underpins local economies, supports essential services, and ensures access to broader opportunities.

 

For Wagga Wagga, Rex Airlines is more than a transport provider—it is a key pillar of our regional infrastructure. Reliable air services are essential for attracting investment, driving tourism, and supporting local businesses. They connect our city to metropolitan hubs, enabling access to healthcare, education, and trade. Without a stable and robust regional airline, Wagga Wagga and other regional centres risk being left behind in an increasingly urban-focused economy.

 

Market-driven models have repeatedly failed regional Australia, with private operators prioritising profits over people. Rex has consistently faced financial challenges due to systemic inequities in the aviation sector, exacerbated by government policies that neglect regional areas. These challenges have led to repeated bailouts—temporary fixes that fail to address the root issues.

 

Nationalisation offers a sustainable, long-term solution. It would secure critical regional routes, provide stability for local economies, and protect thousands of jobs in aviation, tourism, and related sectors. For taxpayers, nationalisation is a more efficient use of resources than perpetual bailouts, as it ensures reliable services with greater accountability and oversight.

 

This Notice of Motion also recognises the importance of a balanced view. It seeks a comprehensive report from the Federal Government that outlines both the advantages and disadvantages of nationalisation. We understand that such a significant decision requires careful analysis, transparency, and engagement with stakeholders to ensure that the best outcome is achieved for regional communities and taxpayers.

 

Ultimately, this motion reflects the belief that regional Australia matters. Wagga Wagga and other regional centres are vital to the nation’s prosperity, and their connectivity should not depend on market whims. By exploring the nationalisation of Rex Airlines, we can future-proof regional air services, strengthen our local economy, and ensure fair access to opportunities for all Australians.

 

N/A

Wagga Wagga City Council 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

 

 

 

 

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

RP-1

 

Reports from Staff

RP-1               PETITION - ONGOING MAINTENANCE ISSUES OF SENIORS COMMUNITY CENTRE

Author:         Travis Weir 

Executive:    Henry Pavitt

         

 

Summary:

Council received a petition from the Wagga Wagga Senior Citizens Club Inc. on the 12 November 2024 regarding the maintenance of the Senior Citizens Centre. A report is being presented in line with the Petitions Management Policy POL 086.

 

 

That Council:

a       receive and note the attached petition

b       note action to address items raised within the petition

c        request staff advise the petition contact person of Council’s determination in accordance with Council’s Petition Policy (POL 086)

Council received the attached petition from Joy Burdett and Robyn Weeden on behalf of the Wagga Wagga Senior Citizens Club Inc. containing 58 signatories on the 12 November 2024 regarding the maintenance of Seniors Citizens Centre.

 

The petition requests that Council address five key maintenance items regarding; Kitchen facilities, parquetry dance floor, built-in audio system synchronisation, laminate within ladies bathroom and fallen roller blinds within the Sturt Room. 

 

Upon receival of the petition, Facilities Maintenance investigated the requests and staff will address each item individually as listed below.

 

1.   “The kitchen has not been updated for many years. The state of the stove is an absolute disgrace and is showing signs of rust. We now do not have luncheons at the Centre because of this. In past years when we have asked for an update, we have been told there is no money but surely some can be found to assist the seniors who use the Centre in our community”.

 

Wagga City Council has identified a funding source within the Community Development Facility hire income and is currently sourcing quotes to replace the existing gas oven with a more suitable electric unit in line with Councils Net Zero 2040 strategy.

 

2.   “The dance floor, which used to be sanded and polished each year over the break in December and January, has not been done for several years”.

 

The dance floor forms a part of ongoing scheduled maintenance which is controlled within the Facility maintenance division. The maintenance of the floors are completed within an annual program. Though the extent of the maintenance may vary depending on the condition. An annual strip and polish is on the maintenance schedule whilst the sanding will be conducted every five to seven years and or as required. The next strip and seal is due to be conducted on the 23 November 2024.

 

3.   “The sound system was recently updated but the set of headphones have not been synchronised to it. As the club has spent $300 for this set of headphones, could we ask that someone from Council come over and adjust this problem”.

 

Facility Maintenance is working with Council ICT Department to assist with the synchronising of the headphones in question. ICT recently repaired the sound system within July of 2024. ICT representative will contact a Wagga Wagga Senior Citizen member to arrange a preferred time for completion.

 

4.   “In the ladies’ toilet (third stall) something on the door frame needs to reglue. It is currently held together by tape”.

 

Maintenance request has been rectified and is now complete.

 

5.   “A Roller blind in the Sturt Room needs to be put back up”.

 

Repairs for the roller blinds within the Sturt Room are in progress for completion.

 

Council is constantly seeking grants opportunities to fund improvements for the Senior Citizens Centre and other community facilities.

 

Comment

 

Wagga City Council Facilities Maintenance conduct regular audits of all facilities, including the Senior Citizens Centre. Council are continuously investing into the improvement within the Senior Citizen facility with recent works being undertaken. The following works have been conducted within the 24/25FY.

 

·    Heating & Cooling Upgrades; Installation of a new heating and cooling system was scheduled within the 24/25FY Budget, $35,482.70 GST Included, currently in progress for completion. With the installation of the heating and cooling, the existing gas heating will be removed in line with Councils NetZero 2040 strategy.

·    Switch board upgrade in progress $4,746.35 GST Included.

·    Sound system upgrade $2,640.00 GST Included.

 

In addition to the above improvements, CCTV & Security Upgrades are proposed within the 25/26FY Budget. Proposed budget $22,814.00 GST Included.

 

As endorsed at the latest Seniors Centre Management Meeting, Council will be hosting a de-cluttering clean-up day in early December 2024 to conduct a deep-clean of the facilities, remove surplus furniture, and install new notice boards.

 

In addition to the above actions, Council invites regular hirers of the Senior Citizens Centre to a quarterly Seniors Citizens Centre Management Meeting which was postponed out of respect to the passing of Jim Weeden. The next meeting will be held on Monday 9 December from 1:30pm to 2:30pm in the Centre of which the Community Development Coordinator and Facilities Management Coordinator will attend.

 

As noted earlier in this report, items 2, 3, 4 & 5 are funded within the 2024/25 Facilities Maintenance budget.

 

The kitchen items requiring upgrade are currently being scoped with the removal of existing stove and ovens, to be replaced with a new oven and cabinetry.  This will be funded from additional facility hire income received over budget within the Community Development area.

Petitions Management Policy POL 086.

 

Growing Economy

Objective: Wagga Wagga is a thriving, innovative and connected regional capital city

Improve, maintain and renew transport networks and building infrastructure to provide safe, affordable, efficient, and reliable transport connections for our community

 

N/A

Facility Management, Infrastructure Services and Community Services officers.

 

Meeting with members of the Senior Citizens Club that were onsite during the Council officers inspection.

 

Contact has been established for the applicant of the petition.

 

 

 

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

RP-2

 

RP-2               Draft Destination Management Plan 2025-2034

Author:         Kimberly Parker 

Executive:    Janice Summerhayes

         

 

Summary:

The draft Wagga Wagga Destination Management Plan is a 10-year strategic framework to foster the growth of a robust visitor economy in the Wagga Wagga Local Government Area that also has flow on benefits to the surrounding region. The draft Plan has been developed through community and business consultation and has a key focus on product development, enabling infrastructure and brand awareness for the city.

 

 

That Council:

a       place the draft Wagga Wagga Destination Management Plan on public exhibition from Friday 29 November 2024 to Sunday 16 February 2025 and invite public submissions during that period

b       receive a further report following the public exhibition period:

i         addressing any submissions made in respect of the draft Plan

ii        proposing adoption of the draft Plan unless there are any recommended amendments deemed to be substantial and requiring a further public exhibition period

The Draft Wagga Wagga Destination Management Plan (the draft Plan) is a 10-year strategic framework to foster the growth of a robust visitor economy in the Wagga Wagga Local Government Area over the next ten years which also has a flow on benefit to the surrounding region.

 

Developed through collaboration with stakeholders, extensive data analysis and research, this plan aims to identify opportunities, establish a shared vision, and outline priority projects that will elevate Wagga Wagga as a visitor destination into the future.

 

The Wagga Wagga Local Government Area (LGA) currently attracts approximately 1.2 million visitors annually. The visitor economy contributes $374 million in direct expenditure to the LGA, which is largely driven by day visitors, with an average spend of $414 per overnight visitor.

 

The draft Plan aims to provide a strategic direction for the development of Wagga Wagga’s visitor economy through to 2034/35 with a focus on product development, enabling infrastructure and brand awareness. In addition, the draft Plan links to the NSW Visitor Economy Strategy 2030 and the upcoming ministerial release of Stage 2 of this strategy.

 

The draft Plan is timely with the identified Strategic Focus Areas aligning to the new NSW priorities areas including:

•     Experience tourism such as First Nations, agritourism and culinary, events, and nature-based experiences

•     A focus on the regions and making the most of the construction of the new Nancy-Bird Walton Western Sydney International Airport, which is expected to reach a capacity of 37 million passengers by 2055.

The draft Plan has a focus on attracting visitation from key target markets such as the ACT through marketing initiatives and seeking opportunities to develop scenic touring routes connecting Wagga Wagga + Surrounds to major touring routes connecting the ACT through to the coast.

Visitor Economy Ambitions

The draft Plan considers the economic analysis work completed by the Visitor Economy & Events and Regional Activation teams to underpin the forecasting projections across the ten-year period. A dissection of datasets from across the organisation and secondary sources for eg. Tourism Research Australia (TRA) were collected to determine the base line data with a series of growth rates to determine economic figures. The data developed in preparation for this plan will also be used to inform the upcoming Economic Development Strategy and draft CBD Masterplan to ensure consistency across these key documents.

 

Visitation projections forecast that the LGA will see an additional 326,774 visitors over the next 10 years (2025-2035), with visitation expected to reach 1.55 million by 2035.   This data has revealed key reasons why visitors are staying in our city and is outlined in detail within the draft Plan. Please refer to pages 28-29 in the draft Plan for further details.

The following is a snapshot of why people are visiting and the projected growth rates across the next ten years:

•     Sport – 3% from 2026

•     Events – 4% from 2027

•     Medical treatment –1.5% from 2025

•     Business (regular) – 5% from 2028

•     Business (major projects) – one worker visits 48 times per year, peaking in 2028

•     Holiday (includes international) – 5% from 2026

•     Visiting Friends and Relatives VFR/Other – 4% from 2027

•     Daytrips – 1.5% to 2035

 

Daytrip modelling included the historic annual visitation and population growth rates of regional NSW, with the assumption of a 1.5% growth rate. Ultimately, the Wagga Wagga region expects to see a growth to 883,462 daytrip visitors and 668,075 overnight visitors by 2035.

 

Investing in new products and improvements to the visitor experience, elevating the marketing presence for the region, and obtaining public and private investment, will impact the forecast and see a higher and faster growth in visitation and overnight stays in Wagga Wagga and Surrounds. For example, increasing the bed inventory with the development of new accommodation options, such as a commercial hotel and/or holiday park, will have a significant impact on the visitation projections. It is important to note that forecast growth does not consider macroeconomic impacts such as recession and cost of living pressures impacting on leisure travel.

 

Regional Destination Comparison

When comparing Wagga Wagga’s visitation over the last five years (2018-2022) to destinations that have similar population bases in a regional setting, the city outperforms its competition. Specifically, TRA indicates that Wagga Wagga is attracting more visitors annually than Albury, Tamworth, Orange, and Mildura. When examining visitor economy outputs (visitor value/spend), Wagga Wagga is performing better than Tamworth however other destinations such as Dubbo and Mildura are experiencing higher economic return despite lower visitor numbers. This suggests they are attracting higher-yield visitors to their regions. Further details can be found in the draft Plan’s appendices pages 70-75.

 

Structure, Content, and Key Projects

The draft Wagga Wagga Destination Management Plan incorporates the following sections:

Executive Summary

Providing a quick snapshot of the overarching draft Plan including the destination vision, economic ambitions, themes and strategic focus areas.

 

Destination Management Plan

Four destination themes have been identified for the plan which are embedded into each Strategic Focus Area, the four themes are:

•     First Nations

•     Agritourism and culinary

•     Water and nature

•     Creativity, culture and place

 

Four Strategic Focus Areas are defined with accompanying actions. The strategic focus areas will enable Wagga Wagga LGA to achieve the Plan’s vision and objectives, ultimately guiding the future of the Wagga Wagga visitor economy and include:

 

Product and Experience Development

Create accessible opportunities for tourism operators to develop and improve skills, collaborate, and network. There are 12 actions in this Strategic Focus Area with priority projects including:

•     New tourism industry development program

•     New tourism annual grants category

•     Youth in tourism (skills and employment pathways)

•     New agritourism destination event

 

Visitor Infrastructure

Support the improvement, development, and provision of visitor economy infrastructure to increase visitation and encourage higher yield visitors to conveniently access the city. There are 8 actions in this Strategic Focus Area. Some priority projects include:

•     Visitor servicing expansion

•     Accommodation investment attraction

•     City gateway and precinct signage

•     Attract national collections and conservation infrastructure

•     First Nations Cultural Centre

•     Iconic infrastructure plan

 

Events and Conferencing

Position Wagga Wagga as a leading regional events destination that offers a diverse, vibrant and inclusive calendar of events that generate positive economic, cultural, social and environmental outcomes for the city. There are 8 actions in this Strategic Focus Area with priority projects including:

•     Major Convention/Entertainment Centre

•     Civic Theatre Performing Arts Masterplan

•     Sporting Infrastructure improvements

•     Events Strategy and Action Plan

•     Seasonal Riverside activations

 

Destination Identity and Marketing

Establish a destination identity that tells Wagga Wagga’s unique story that inspires visitation. Deliver a consistent message across all platforms with the aim of positioning Wagga Wagga as the capital of the Riverina region. There are 4 actions in this Strategic Focus Area including:

•     Visitor trend research

•     Develop the destination brand

•     Marketing Plan

•     Destination marketing

 

Following the extensive engagement to develop the draft Plan a Councillor Workshop was held 21 October 2024 and the feedback at this session has been included in the draft Plan, attached to this report. Updates included bringing forward the following initiatives:

·    DD02 Develop the destination brand to year 1 (2025/26)

·    VD04 Wayfinding and visitor movement plan to year 2 (2026/27)

·    VD05 City Gateway and precinct signage to year 3 (2027/28)

 

Staff are now recommending that Council place the draft Plan on public exhibition from Friday 29 November 2024 to Sunday 16 February 2025. This extended public exhibition period takes account of the Christmas and New Year period so as to allow for further feedback from the community and businesses as detailed in the consultation section of this report.

On close of the public exhibition period, staff will consider any submissions received during the public exhibition period for inclusion in the final Plan which will be reported back to an Ordinary Council meeting 7 April 2025.

The draft Plan contains a large proportion of activities that are currently funded through Council’s Long Term Financial Plan (LTFP). It should be noted that the allocated funds do not address all initiatives simultaneously, rather they are prioritised for different projects year to year.

 

Where projects are not funded, these will be subject to approval through Council's LTFP budget and business planning processes or Council will endeavour to seek federal and state grant funding opportunities in collaboration with local stakeholders. 

The draft Plan will assist in achieving Council’s strategic objectives and plans as listed below:

•     Wagga Wagga Community Strategic Plan

•     Wagga Wagga Cultural Plan 2020-2030

•     Wagga Wagga Reconciliation Action Plan 2022 - 2024

•     Wagga Wagga All Abilities Plan 2022 - 2026

•     Recreation, Open Space and Community Strategy and Implementation Plan 2040

•     Wagga Wagga Events Strategy and Action Plan 2020-2024

 

Growing Economy

Objective: Wagga Wagga is an attractive tourist destination

Facilitate planning and development of visitor-related facilities and services

 

There are initiatives identified within the draft Plan that are dependent upon sourcing long-term financial funding and will not proceed if funding is not secured.

Risk management will be managed against each action when implemented.

Development and Consultation

The draft Plan has been informed by independent research and analysis, as well as consultation and engagement with industry representatives, community groups, businesses, Councillors, government stakeholders, and the broader Wagga Wagga community. The plan has also been informed by extensive internal staff consultation.

The development of the draft Plan is a first of its kind for the Wagga Wagga LGA, and represents Council’s commitment to the visitor economy, detailing the many opportunities to invest further in the development of our destination’s offerings.

Research and consultation included:

•     4 x workshops with industry including accommodation, retail, hospitality, First Nations small business, attractions, and experiences.

•     10 x individual and small group engagement sessions with other key stakeholders; including: Mawang Gaway (Aboriginal Community Consultative Committee); Destination Riverina Murray; NSW National Parks and Wildlife Service; NSW Government Crown Lands; Wagga Wagga Business Chamber; Wagga Wagga Business Roundtable; rural villages progress associations; Wagga Access Reference Group; Surrounding Shire Council Tourism Partners (2024/25) including Lockhart, Snowy Valleys, Junee, Coolamon, Temora, Narrandera, Cootamundra-Gundagai and Greater Hume.

•     36 x workshops/sessions including Councillors, directors, senior managers and staff from the following directorates/teams:

o Regional Activation

o Finance

o People and Culture

o Planning

o Infrastructure Services

o Community

o Governance

o Strategy and Projects

•     Business and Community Survey (170 responses)

•     Interactive pin map for ideas generation (82 responses) through the Have Your Say page: https://haveyoursay.wagga.nsw.gov.au/dmp

•     2 x past visitor focus groups

•     1 x future visitor focus group

•     1 x youth resident focus group.

Consultation findings and priority projects from the community and business engagement process have informed the objectives and action in the draft Plan.  A snapshot of these findings is detailed below, with further information available in the draft Plan’s appendices from pages 76 – 79.

•     Top 3 outcomes detailed in the draft Plan

o Development of new attractions and experiences

o Increase in annual visitation, visitor spend, and length of stay

o Improve event facilities and open spaces

•     Top 3 investment priorities

o Nature and active outdoor experiences and infrastructure

o Road and Rail infrastructure & accessible visitor amenity

o Airport and flight attraction

•     Top 3 areas of support most needed

o Destination marketing

o Marketing/promotion support to businesses

o Increasing business skills and collaboration opportunities between local businesses

Councillor feedback received at the Councillor Workshop held 21 October 2024 has been included in the draft Plan, attached to this report. Updates included bringing forward the following initiatives:

·    DD02 Develop the destination brand to year 1 (2025/26)

·    VD04 Wayfinding and visitor movement plan to year 2 (2026/27)

·    VD05 City Gateway and precinct signage to year 3 (2027/28)

 

Staff are recommending that Council place this draft Plan on public exhibition from Friday 29 November 2024 to Sunday 16 February 2025 to gather further community and business feedback.

 

While the draft Plan is on public exhibition, the following activities will be undertaken to promote the draft Plan:

o  Targeted face-to-face industry session for local tourism businesses to provide feedback

o  A media release to announce that the draft plan is open for comment and how to make a submission

o  Placement of the draft Plan on Council’s public engagement and consultation platform – Have Your Say

o  Promotion through Council News and Council’s social media platforms including Facebook, Instagram, and LinkedIn

o  Promotion through industry e-newsletters

o  Direct notification via email and phone to Government agencies, Wagga Wagga Local Aboriginal Land Council, tourism businesses, community groups, and other tourism related organisations

On close of the public exhibition period, staff will consider any submissions received during the public exhibition period for inclusion in the final Plan which will be reported back to an Ordinary Council meeting 7 April 2025.

 

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

x

Consult

x

x

x

x

x

x

Involve

Collaborate

Other methods (please list specific details below)

 

 

 

1.

Draft Wagga Wagga Destination Management Plan 2025-2034 - Provided under separate cover.

 

 

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

RP-3

 

RP-3               Presentation of the 2023/24 Financial Statements

Author:         Zachary Wilson 

Executive:    Carolyn Rodney

         

 

Summary:

Council resolved to sign the 2023/24 Financial Statements at the 28 October 2024 Ordinary Council Meeting, enabling Council officers to lodge the financial statements with the Office of Local Government (OLG) prior to the 31 October 2024 due date.   Council’s external auditors, NSW Audit Office have completed their Auditor’s Report, and have provided this to Council for their information.

 

 

Recommendation That Council: a       receive the Audited Financial Statements, together with the Auditor’s Reports on the Financial Statements for the year ended 30 June 2024 b       receive a further report if any public submissions are received

 

The Audit Reports for the 2023/24 Financial Statements have now been received and are presented in accordance with section 419(1) of the Local Government Act 1993.

 

Council has provided public notice that the Financial Statements and Auditor’s Reports will be presented at this meeting in accordance with section 418 of the Local Government Act 1993 and has invited public submissions on the audited financial statements, with submissions open until Tuesday 3 December 2024.

 

Whilst this report and associated attachments show Council’s financial performance and position for the 2023/24 financial year, the adoption of this report by the Council has no financial implications.

Local Government Act 1993

Sections:   419 – Presentation of council’s financial reports

420 – Submissions on financial reports and auditor’s report

 

Community Leadership and Collaboration

Objective: We have strong leadership

Outcome: We are accountable and transparent

 

 

The NSW Audit Office has previously supplied Council with an interim management letter, which was discussed at the 15 August 2024 Audit, Risk & Improvement Committee Meeting. The interim management letter identified three (3) issues with two (2) rated as moderate risk and one (1) rated as low risk. Council officers will undertake the actions identified in the Management Responses.

 

The Management letter on the Final Phase of the Audit for the year ended 30 June 2024 will be presented to the February 2025 Audit, Risk & Improvement Committee meeting and will include Councils Management responses on any issues raised.

The Council’s Community Engagement Strategy and IAP2 considers the community to be “any individual or group of individuals, organisation or political entity with an interest in the outcome of a decision….”

 

Council’s external auditors, NSW Audit Office have liaised with Council’s Finance division and presented the draft Financial Statements in detail to the Audit, Risk and Improvement Committee at the 17 October 2024 Committee meeting.

 

The draft Financial Statements were approved for signing by Council at its 28 October 2024 Council meeting and were lodged with the OLG on 30 October 2024.

 

 

1.

Annual Financial Statements 2023-24 - Provided under separate cover.

 

 

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

RP-4

 

RP-4               FINANCIAL PERFORMANCE REPORT AS AT 31 OCTOBER 2024

Author:          Carolyn Rodney 

         

 

Summary:

This report is for Council to consider information presented on the 2024/25 budget and Long-Term Financial Plan, and details Council’s external investments and performance as at 31 October 2024.

 

 

That Council:

a       approve the proposed 2024/25 budget variations for the month ended 31 October 2024 and note the balanced budget position as presented in this report

b       approve the proposed budget variations to the 2024/25 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 at 31 October 2024 in accordance with section 625 of the Local Government Act 1993

e       accept the grant funding offers as presented in this report

 

Wagga Wagga City Council (Council) forecasts a balanced budget position as of 31 October 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 October when compared to budget ($426,901 up on the monthly budget). This is mainly due to better than budgeted returns on Council’s investment portfolio as a result of the recent interest rate movements, as well as a higher than anticipated investment portfolio balance.

 

Key Performance Indicators

 

 

OPERATING INCOME

Total operating income is 34% of approved budget and is tracking to budget for the month of October 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 73% when compared to budget.

 

OPERATING EXPENSES

Total operating expenditure is 36% of approved budget and is tracking over budget at this stage of the financial year. This is due to the payment of annual one-off expenses such as rates and insurances.

 

CAPITAL INCOME

Total capital income is 55% of approved budget, which is mainly attributed to the Accelerated Infrastructure Fund (AIF) grant funding that has been received. 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 17% of approved budget including pending projects. Excluding commitments, the total expenditure is 6% when compared to the approved budget.

 

 

 

2024/25 Revised Budget Result – (Surplus) / Deficit	$’000s
Original 2024/25 Budget Result as adopted by Council Total Budget Variations approved to date Budget Variations for October 2024 (Resolution 24/312 ‘Recreation Facility Management’ Report 28 October 2024 Council) Proposed transfer to Parks & Recreation Reserve – for future operational requirements at facilities	$0K $0K ($25K)   $25K
Proposed Revised Budget result for 31 October 2024 - (Surplus) / Deficit	$0K

 

The proposed Operating and Capital Budget Variations for 31 October 2024 which affect the current 2024/25 financial year are listed below.

 

 

2024/25 Capital Works Summary

 

Capital Works	Approved Budget	Proposed Movement	Proposed Budget
One-off	$156,068,137	$51,600	$156,119,737
Recurrent	$37,875,801	$0	$37,875,801
Pending	$31,741,894	$0	$31,741,894
Total Capital Works	$225,685,832	$51,600	$225,737,432

 

 

 

Current Restrictions

 

 

RESERVES SUMMARY
31 OCTOBER 2024
	CLOSING BALANCE 2023/24	ADOPTED RESERVE TRANSFERS 2024/25	BUDGET VARIATIONS APPROVED UP TO COUNCIL MEETING 28.10.2024	PROPOSED CHANGES for Council Resolution*	BALANCE AS AT 31 OCTOBER 2024
Externally Restricted
Developer Contributions - Section 7.11	(35,346,092)	3,828,593	6,107,271		(25,410,229)
Developer Contributions - Section 7.12	(849,883)	(28,096)	0		(877,979)
Developer Contributions - Stormwater Section 64	(8,765,571)	131,291	110,565		(8,523,715)
Sewer Fund	(52,652,543)	(276,425)	10,992,699		(41,936,268)
Solid Waste	(31,897,464)	2,924,014	3,688,181		(25,285,270)
Specific Purpose Unexpended Grants & Contributions	(58,467,746)	0	58,467,746		0
SRV Levee Reserve	(6,230,711)	0	0		(6,230,711)
Stormwater Levy	(5,505,698)	2,772,743	719,289		(2,013,667)
Total Externally Restricted	(199,715,707)	9,352,119	80,085,749	0	(110,277,838)
Internally Restricted
Additional Special Variation (ASV)	(934,841)	934,841	0		0
Airport	0	0	0		0
Art Gallery	(15,398)	(6,000)	0		(21,398)
Bridge Replacement	(277,544)	0	277,544		0
Buildings	(3,386,635)	77,514	122,179		(3,186,943)
CCTV	(34,995)	0	0		(34,995)
Cemetery	(1,378,480)	(204,757)	129,870		(1,453,366)
Civic Theatre	(95,013)	(21,237)	30,000		(86,250)
Civil Infrastructure	(11,521,350)	696,586	5,200,493		(5,624,271)
Council Election	(427,970)	372,507	0		(55,463)
Economic Development	(361,938)	18,358	291,936		(51,645)
Emergency Events Reserve	(252,702)	(109,381)	0		(362,084)
Employee Leave Entitlements Gen Fund	(3,607,285)	0	0		(3,607,285)
Environmental Conservation	(116,578)	0	0		(116,578)
Event Attraction	(962,294)	91,784	601,625		(268,885)
Financial Assistance Grants in Advance	(10,947,037)	0	10,947,037		0
Grant Co-Funding	(500,000)	180,000	140,000		(180,000)
Gravel Pit Restoration	(790,095)	3,333	222,825		(563,936)
Information Services	(2,387,681)	1,037,601	290,000		(1,060,080)
Insurance Variations	(50,000)	0	0		(50,000)
Internal Loans	(7,841,730)	(149,108)	748,574		(7,242,264)
Lake Albert Improvements	(741,740)	(21,261)	707,783		(55,218)
Library	(400,985)	(237,430)	0		(638,415)
Livestock Marketing Centre	(8,324,132)	1,013,875	5,056,146		(2,254,111)
Museum Acquisitions	(48,476)	4,378	0		(44,099)

 

 

 

 

 

 

 

 

 

 

 

Investment Summary as at 31 October 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 30/09/2024 $	Closing Balance Invested 31/10/2024 $	October EOM Current Yield %	October EOM % of Portfolio	Investment Date	Maturity Date	Term (months)
At Call Accounts
NAB	AA-	241,410	342,430	4.35%	0.12%	N/A	N/A	N/A
CBA	AA-	18,356,053	14,403,240	4.35%	4.93%	N/A	N/A	N/A
CBA	AA-	7,730,402	7,758,358	4.40%	2.66%	N/A	N/A	N/A
Macquarie Bank	A+	9,819,934	9,855,298	4.15%	3.37%	N/A	N/A	N/A
CBA	AA-	48,515,849	48,562,105	4.35%	16.63%	N/A	N/A	N/A
Total At Call Accounts		84,663,648	80,921,432	4.33%	27.71%
Short Term Deposits
AMP	BBB+	1,000,000	1,000,000	5.40%	0.34%	15/11/2023	15/11/2024	12
Australian Unity	BBB+	1,000,000	1,000,000	5.49%	0.34%	27/11/2023	27/11/2024	12
Suncorp	AA-	2,000,000	2,000,000	5.46%	0.68%	30/11/2023	29/11/2024	12
ING Bank	A	1,000,000	1,000,000	5.46%	0.34%	30/11/2023	29/11/2024	12
BankVic	BBB+	1,000,000	1,000,000	5.45%	0.34%	4/12/2023	4/12/2024	12
AMP	BBB+	2,000,000	2,000,000	5.35%	0.68%	14/12/2023	16/12/2024	12
Australian Unity	BBB+	1,000,000	1,000,000	5.19%	0.34%	30/01/2024	30/01/2025	12
Suncorp	AA-	1,000,000	1,000,000	5.12%	0.34%	7/03/2024	7/03/2025	12
ING Bank	A	1,000,000	1,000,000	5.31%	0.34%	3/06/2024	3/06/2025	12
BankVic	BBB+	2,000,000	2,000,000	5.34%	0.68%	26/06/2024	26/06/2025	12
Bank of Sydney	NR	2,000,000	2,000,000	5.47%	0.68%	28/06/2024	30/06/2025	12
NAB	AA-	1,000,000	1,000,000	5.30%	0.34%	30/07/2024	30/07/2025	12
NAB	AA-	2,000,000	2,000,000	5.45%	0.68%	2/07/2024	2/07/2025	12
NAB	AA-	2,000,000	2,000,000	5.40%	0.68%	8/07/2024	8/07/2025	12
Suncorp	AA-	1,000,000	1,000,000	5.43%	0.34%	10/07/2024	10/07/2025	12
NAB	AA-	2,000,000	2,000,000	5.03%	0.68%	27/08/2024	27/08/2025	12
Total Short Term Deposits		23,000,000	23,000,000	5.35%	7.87%
Medium Term Deposits
Westpac	AA-	2,000,000	2,000,000	1.32%	0.68%	28/06/2021	29/06/2026	60
Westpac	AA-	2,000,000	2,000,000	1.80%	0.68%	15/11/2021	17/11/2025	48
ICBC	A	2,000,000	2,000,000	2.03%	0.68%	6/11/2019	6/11/2024	60
ICBC	A	2,000,000	2,000,000	1.83%	0.68%	28/11/2019	28/11/2024	60
BOQ	A-	1,000,000	1,000,000	2.00%	0.34%	28/02/2020	28/02/2025	60
Police Credit Union	NR	1,000,000	1,000,000	2.20%	0.34%	1/04/2020	1/04/2025	60
ICBC	A	1,000,000	1,000,000	1.85%	0.34%	29/05/2020	29/05/2025	60
ICBC	A	1,000,000	1,000,000	1.86%	0.34%	1/06/2020	2/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.68%	25/06/2020	25/06/2025	60
ICBC	A	2,000,000	2,000,000	1.75%	0.68%	25/06/2020	25/06/2025	60
ICBC	A	3,000,000	3,000,000	5.07%	1.03%	30/06/2022	30/06/2027	60
ICBC	A	2,000,000	2,000,000	1.50%	0.68%	17/08/2020	18/08/2025	60
BoQ	A-	1,000,000	1,000,000	1.25%	0.34%	7/09/2020	8/09/2025	60
BoQ	A-	2,000,000	2,000,000	1.25%	0.68%	14/09/2020	15/09/2025	60
ICBC	A	1,000,000	1,000,000	1.20%	0.34%	7/12/2020	8/12/2025	60
NAB	AA-	2,000,000	2,000,000	0.95%	0.68%	29/01/2021	29/01/2026	60
NAB	AA-	1,000,000	1,000,000	1.08%	0.34%	22/02/2021	20/02/2026	60
NAB	AA-	2,000,000	2,000,000	1.25%	0.68%	3/03/2021	2/03/2026	60
NAB	AA-	2,000,000	2,000,000	1.40%	0.68%	21/06/2021	19/06/2026	60
Westpac	AA-	2,000,000	2,000,000	1.32%	0.68%	25/06/2021	25/06/2026	60
ICBC	A	1,000,000	1,000,000	1.32%	0.34%	25/08/2021	25/08/2026	60
AMP	BBB+	2,000,000	0	0.00%	0.00%	18/10/2021	17/10/2024	36
Westpac	AA-	2,000,000	2,000,000	1.56%	0.68%	30/11/2021	29/11/2024	36
Westpac	AA-	2,000,000	2,000,000	2.00%	0.68%	8/02/2022	10/02/2025	36
P&N Bank	BBB+	2,000,000	2,000,000	2.40%	0.68%	9/03/2022	10/03/2025	36
P&N Bank	BBB+	2,000,000	2,000,000	4.90%	0.68%	11/03/2024	11/03/2026	24
MyState	BBB	2,000,000	2,000,000	2.20%	0.68%	2/03/2022	3/03/2025	36
CBA	AA-	2,000,000	2,000,000	3.99%	0.68%	4/05/2022	5/05/2025	36
ING Bank	A	1,000,000	1,000,000	5.11%	0.34%	23/05/2024	25/05/2026	24
BoQ	A-	1,000,000	1,000,000	4.50%	0.34%	7/07/2022	7/07/2025	36
CBA	AA-	1,000,000	1,000,000	4.25%	0.34%	12/08/2022	12/08/2025	36
P&N Bank	BBB+	3,000,000	3,000,000	4.55%	1.03%	29/08/2022	29/08/2025	36
Australian Military Bank	BBB+	2,000,000	2,000,000	4.55%	0.68%	2/09/2022	2/09/2025	36
P&N Bank	BBB+	1,000,000	1,000,000	4.40%	0.34%	9/09/2022	9/09/2025	36
BoQ	A-	1,000,000	0	0.00%	0.00%	4/10/2022	4/10/2024	24
AMP	BBB+	2,000,000	0	0.00%	0.00%	21/10/2022	21/10/2024	24
ICBC	A	2,000,000	2,000,000	5.20%	0.68%	21/10/2022	21/10/2025	36
AMP	BBB+	1,000,000	1,000,000	4.75%	0.34%	15/11/2022	14/11/2024	24
AMP	BBB+	1,000,000	1,000,000	4.80%	0.34%	21/11/2022	20/11/2025	36
P&N Bank	BBB+	2,000,000	2,000,000	4.75%	0.68%	16/12/2022	16/12/2024	24
Police Credit Union	NR	2,000,000	2,000,000	5.04%	0.68%	15/02/2023	17/02/2025	24
Police Credit Union	NR	2,000,000	2,000,000	4.94%	0.68%	14/03/2023	14/03/2025	24
P&N Bank	BBB+	2,000,000	2,000,000	5.00%	0.68%	14/03/2023	15/03/2027	48
Hume Bank	BBB+	2,000,000	2,000,000	4.75%	0.68%	31/03/2023	31/03/2025	24
Auswide	BBB	2,000,000	2,000,000	4.95%	0.68%	13/04/2023	13/04/2026	36
P&N Bank	BBB+	2,000,000	2,000,000	5.20%	0.68%	20/04/2023	20/04/2027	48
P&N Bank	BBB+	1,000,000	1,000,000	5.20%	0.34%	26/05/2023	26/05/2026	36
ING Bank	A	2,000,000	2,000,000	5.38%	0.68%	28/06/2024	28/06/2029	60
ING Bank	A	2,000,000	2,000,000	5.37%	0.68%	21/08/2023	21/08/2025	24
P&N Bank	BBB+	1,000,000	1,000,000	5.45%	0.34%	30/11/2023	28/11/2025	24
ING Bank	A	2,000,000	2,000,000	5.20%	0.68%	14/12/2023	15/12/2025	24
ING Bank	A	2,000,000	2,000,000	5.14%	0.68%	3/01/2024	5/01/2026	24
P&N Bank	BBB+	2,000,000	2,000,000	5.10%	0.68%	4/01/2024	4/01/2027	36
Suncorp	AA-	1,000,000	1,000,000	5.08%	0.34%	8/01/2024	8/01/2026	24
Australian Unity	BBB+	1,000,000	1,000,000	4.93%	0.34%	7/03/2024	9/03/2026	24
ING Bank	A	2,000,000	2,000,000	5.10%	0.68%	23/04/2024	24/04/2028	48
NAB	AA-	2,000,000	2,000,000	5.10%	0.68%	6/05/2024	6/05/2026	24
ING Bank	A	1,000,000	1,000,000	5.12%	0.34%	24/05/2024	24/05/2027	36
ING Bank	A	1,000,000	1,000,000	5.26%	0.34%	31/05/2024	31/05/2028	48
ING Bank	A	2,000,000	2,000,000	5.26%	0.68%	6/06/2024	6/06/2028	48
Australian Military Bank	BBB+	1,000,000	1,000,000	5.20%	0.34%	11/06/2024	11/06/2026	24
Australian Military Bank	BBB+	2,000,000	2,000,000	5.20%	0.68%	11/06/2024	11/06/2026	24
BankVIC	BBB+	2,000,000	2,000,000	4.65%	0.68%	27/08/2024	27/08/2026	24
ING Bank	A	2,000,000	2,000,000	4.63%	0.68%	30/08/2024	30/08/2026	24
ING Bank	A	1,000,000	1,000,000	4.51%	0.34%	16/09/2024	18/09/2028	48
Westpac	AA-	2,000,000	2,000,000	4.45%	0.68%	27/09/2024	28/09/2026	24
ING Bank	A	0	2,000,000	4.79%	0.68%	17/10/2024	19/10/2026	24
Westpac	AA-	0	1,000,000	4.70%	0.34%	8/10/2024	8/10/2026	24
Westpac	AA-	0	2,000,000	4.73%	0.68%	21/10/2024	21/10/2027	36
Total Medium Term Deposits		111,000,000	111,000,000	3.73%	38.01%
Floating Rate Notes - Senior Debt
NAB	AA-	2,023,153	2,004,426	BBSW + 77	0.69%	21/01/2020	21/01/2025	60
Newcastle Permanent	BBB+	1,110,189	1,115,233	BBSW + 112	0.38%	4/02/2020	4/02/2025	60
Macquarie Bank	A+	2,017,230	2,024,987	BBSW + 84	0.69%	12/02/2020	12/02/2025	60
BOQ Covered	AAA	555,833	558,070	BBSW + 107	0.19%	14/05/2020	14/05/2025	60
UBS	A+	1,518,981	1,504,746	BBSW + 87	0.52%	30/07/2020	30/07/2025	60
CBA	AA-	2,026,257	2,009,771	BBSW + 70	0.69%	14/01/2022	14/01/2027	60
Rabobank	A+	2,020,593	2,004,763	BBSW + 73	0.69%	27/01/2022	27/01/2027	60
Newcastle Permanent	BBB+	1,005,285	1,013,140	BBSW + 100	0.35%	10/02/2022	10/02/2027	60
NAB	AA-	2,417,634	2,428,845	BBSW + 72	0.83%	25/02/2022	25/02/2027	60
Bendigo-Adelaide	A-	1,656,934	1,664,029	BBSW + 98	0.57%	17/03/2022	17/03/2025	36
ANZ	AA-	2,031,250	2,039,878	BBSW + 97	0.70%	12/05/2022	12/05/2027	60
NAB	AA-	1,714,013	1,720,730	BBSW + 90	0.59%	30/05/2022	30/05/2025	36
Suncorp	AA-	909,072	912,872	BBSW + 93	0.31%	22/08/2022	22/08/2025	36
ANZ	AA-	2,558,426	2,570,054	BBSW + 120	0.88%	4/11/2022	4/11/2027	60
NAB	AA-	2,551,093	2,562,687	BBSW + 120	0.88%	25/11/2022	25/11/2027	60
Suncorp	AA-	1,118,868	1,124,002	BBSW + 125	0.38%	14/12/2022	14/12/2027	60
CBA	AA-	2,050,496	2,032,007	BBSW + 115	0.70%	13/01/2023	13/01/2028	60
Bank Australia	BBB+	1,929,585	1,943,580	BBSW + 155	0.67%	22/02/2023	22/02/2027	48
Bendigo-Adelaide Covered	AAA	1,012,369	1,019,139	BBSW + 115	0.35%	16/06/2023	16/06/2028	60
CBA	AA-	2,532,364	2,545,102	BBSW + 95	0.87%	17/08/2023	17/08/2028	60
ANZ	AA-	2,117,748	2,128,657	BBSW + 93	0.73%	11/09/2023	11/09/2028	60
Bank Australia	BBB+	1,677,013	1,663,822	BBSW + 150	0.57%	30/10/2023	30/10/2026	36
ANZ	AA-	2,534,828	2,549,109	BBSW + 96	0.87%	5/02/2024	5/02/2029	60
ANZ	AA-	1,005,654	1,011,499	BBSW + 98	0.35%	19/03/2024	19/03/2029	60
ING Bank	A	502,600	505,414	BBSW + 95	0.17%	22/03/2024	22/03/2027	36
BoQ	A-	1,676,278	1,665,354	BBSW + 128	0.57%	30/04/2024	30/04/2029	60
Bendigo-Adelaide	A-	808,398	813,731	BBSW + 100	0.28%	14/05/2024	14/05/2027	36
ANZ	AA-	1,505,230	1,513,041	BBSW + 86	0.52%	18/06/2024	18/06/2029	60
Teachers Mutual	BBB+	906,519	912,910	BBSW + 130	0.31%	21/06/2024	21/06/2027	36
ING Bank	A	2,215,986	2,231,251	BBSW + 102	0.76%	20/08/2024	20/08/2029	60
CBA	AA-	1,512,123	1,520,870	BBSW + 87	0.52%	22/08/2024	22/08/2029	60
Suncorp	AA-	2,402,217	2,417,023	BBSW + 92	0.83%	27/09/2024	27/09/2029	60
Bendigo-Adelaide	A-	0	749,978	BBSW + 96	0.26%	24/10/2024	24/10/2028	48
Total Floating Rate Notes - Senior Debt		53,624,222	54,480,722		18.65%
Fixed Rate Bonds
ING Covered	AAA	708,139	705,271	1.10%	0.24%	19/08/2021	19/08/2026	60
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.00%	1.03%	24/08/2021	16/12/2024	40
Northern Territory Treasury	AA-	3,000,000	3,000,000	1.50%	1.03%	24/08/2021	15/12/2026	64
BoQ	A-	1,820,589	1,797,400	2.10%	0.62%	27/10/2021	27/10/2026	60
BoQ	A-	2,085,145	2,011,127	5.30%	0.69%	30/04/2024	30/04/2029	60
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.50%	0.68%	6/08/2021	15/12/2026	64
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.50%	0.34%	14/07/2021	15/12/2026	65
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.30%	0.68%	29/04/2021	15/06/2026	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.68%	30/11/2020	15/12/2025	60
Northern Territory Treasury	AA-	1,000,000	1,000,000	1.00%	0.34%	20/11/2020	15/12/2025	61
Northern Territory Treasury	AA-	2,000,000	2,000,000	1.00%	0.68%	21/10/2020	15/12/2025	62
Total Fixed Rate Bonds		20,613,874	20,513,798	1.70%	7.02%
Managed Funds
NSW Tcorp	NR	2,158,830	2,150,017	-0.41%	0.74%	17/03/2014	1/10/2029	186
Total Managed Funds		2,158,830	2,150,017	-0.41%	0.74%
TOTAL CASH ASSETS, CASH EQUIVALENTS & INVESTMENTS		295,060,574	292,065,969		100.00%

 

 

Council’s investment portfolio is dominated by Term Deposits, equating to approximately 46% of the portfolio across a broad range of counterparties. Cash equates to 28%, with Floating Rate Notes (FRNs) around 18%, fixed rate bonds around 7% 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 decreased slightly over the past month, down from $295.06M to $292.07M.

 

 

Monthly Investment Movements

 

Redemptions/Sales – Council redeemed/sold the following investment securities during October 2024:

 

 

New Investments – Council purchased the following investment securities during October 2024:

 

 

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

 

Monthly Investment Performance

 

Interest/growth/capital gains/(losses) for the month totalled $1,017,155, which compares favourably with the budget for the period of $590,254 - outperforming budget for the month by $426,901.

 

Council’s outperformance to budget for October 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 recent 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 slight negative return on its NSW T-Corp Managed Fund for the month of October, with the fund returning -0.41% (or -$8,813) as domestic (-1.31%) and international (-1.94%) shares gave back some of their strong gains over the past year.

 

 

In comparison to the AusBond Bank Bill Index* of 4.50% (annualised), Council’s investment portfolio returned 4.08% (annualised) for the month of October. 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 previous aggressive increases in the AusBond Bank Bill index with the unexpected movements in the RBA cash rate.

 

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 4.09%, marginally underperforming the AusBond Bank Bill index by -0.36%. Councils investment portfolio has continued to outperform the AusBond Bank Bill Index* over the longer-term time period, returning 3.00% per annum over the past 3 years – outperforming the benchmark by 0.05% 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: Wagga Wagga City Council leads through engaged civic governance and is recognised and distinguished by its ethical decision-making, efficient management, innovation and quality customer service

Ensure transparency and accountability

 

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 2024/25 to 2033/34

 

 

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

RP-4