Council meeting preview
Rotorua Lakes Council had an operating surplus of $850,000 as at 31 August 2023, reflecting lower-than-budgeted operational expenditure in the current financial year-to-date.
A report for next Wednesday’s Council meeting notes that the organisation is forecasting that this expenditure will catch up to budget as Council’s work programmes gain momentum through the remainder of the 2023/24 financial year.
Within the overall $1.57m year-to-date variance shown for August, $2.47m relates to the receipt of subsidies attached to capital projects, offset by slightly higher development contributions and a positive operating variance of $850,000 year-to-date.
Total Income is tracking unfavourably to budget, with a $2.55m negative variance to budget, primarily relating to grants and subsidies related to capital expenditure, the report notes.
Operating Expenses are tracking favourably to budget, with a $979,000 positive variance to budget and as 31 August 2023, capital expenditure totalled $14.3m against the full year budget of $135.9m.
Go to p17 of the meeting agenda to view the full financial report for the two months ending 31 August 2023.
Also on the Agenda
Adoption of 2022/23 Annual Report: The Council will be asked to adopt the audited 2022/23 Annual Report which provides an overview of that financial year including highlights and achievements, statements of service performance and achieved targets and financial statements. Go to p14 of the meeting agenda to view the full report on this matter.
Declaration of newly appointed Rotorua Lakes Community Board Member: The Council will witness the official written and oral declarations of Jennifer Rothwell who has recently filled a vacancy on the lakes community board. Go to p11 of the meeting agenda to view the full report on this matter.
LGNZ conference presentation: Councillor Don Paterson will present his report from this year’s Local Government New Zealand conference.
Operational progress reports: Council will receive updates from the Corporate Services group and the Corporate Planning and Governance and Te Arawa Partnerships teams. See pages 23 to 40 of the meeting agenda to view the reports.
View the full meeting agenda at the following link on Council’s website: ECM_19985148_v4_PUBLIC Agenda Council Meeting 27 September 2023 (rotorualakescouncil.nz)
The Council meeting next Wednesday (27 September 2023) starts at 9.30am in the Council Chamber and is open to the public to attend.
The meeting will also be livestreamed and can be viewed live or later via Council’s YouTube channel: Rotorua Lakes Council - YouTube