Minutes of the Finance Advisory Committee Meeting held on 18 August 2016

BYRON SHIRE COUNCIL

14.1 - Attachment 1

Minutes of the Finance Advisory Committee Meeting held on Thursday, 18 August 2016

File No: I2016/905

PRESENT: Cr B Cameron, Cr D Dey, Cr A Hunter, and Cr D Woods

Staff: Ken Gainger (General Manager)

Mark Arnold (Director Corporate and Community Services)

Phil Holloway (Director Infrastructure Services)

James Brickley (Manager Finance)

Sarah Parkinson (Minute Taker)

Cr Cameron (Chair) opened the meeting at 2.05pm and acknowledged that the meeting was being held on Bundjalung Country.

Apologies:

There were apologies received from Cr Cubis and Cr Ibrahim.

Declarations of Interest – Pecuniary and Non-Pecuniary

There were no declarations of interest.

Adoption of Minutes from Previous Meetings

Committee Recommendation:

That the minutes of the Finance Advisory Committee Meeting held on 12 May 2016 and the Extraordinary Finance Advisory Committee Meeting held on 21 June 2016 be confirmed.

(Hunter/Woods)

The recommendation was put to the vote and declared carried.

Business Arising from Previous Minutes

There was no business arising from previous minutes.

Staff Reports - Corporate and Community Services

Report No. 5.1 2015/16 Financial Sustainability Plan - Update on the Action Implementation Plan as at 30 June 2016

File No: I2016/750

Committee Recommendation:

That the update report to 30 June 2016 on the 2015/2016 Financial Sustainability Project Plan Action Implementation Plan (#E2016/52089) be received and noted. (Woods/Dey)

The recommendation was put to the vote and declared carried.

Report No. 5.2 Carryovers for Inclusion in 2016/2017 Budget

File No: I2016/878

Committee Recommendation:

That the Finance Advisory Committee recommend to Council:

That the works and services, and the respective funding shown in Attachment 1 (#E2016/74385), Attachment 2 (#E2016/74388) and Attachment 3 (#E2016/74387) be carried over from the 2015/2016 financial year and that the carryover budget allocations be adopted as budget allocation revotes for inclusion in the 2016/2017 Budget Estimates. (Hunter/Woods)

The recommendation was put to the vote and declared carried.

Report No. 5.3 Council Budget Review - 1 April 2016 to 30 June 2016

File No: I2016/886

Committee Recommendation:

That the Finance Advisory Committee recommend to Council:

1. That Council authorises the itemised budget variations as shown in Attachment 2 (#E2016/74510) which includes the following results in the 30 June 2016 Quarterly Review of the 2015/2016 Budget:

a) General Fund - $0 increase in accumulated surplus/working funds

b) General Fund - $9,096,400 increase in reserves

c) Water Fund - $1,959,600 increase in reserves.

d) Sewerage Fund - $643,300 increase in reserves

2. That Council adopt the revised estimated General Fund Accumulated Surplus/ (Working Funds) surplus of $919,100 for the 2015/2016 financial year as at 30 June 2016.

3. That Council allocate $2,163,000 to internal reserve funds as indicated in this report under the heading ‘Specific Cash Position’.. (Woods/Dey)

The recommendation was put to the vote and declared carried.

Late Report

Report No. 6.1 Draft 2016-2026 Long Term Financial Plan

File No: I2016/901

Committee Recommendation:

That the Finance Advisory Committee recommend to Council that the completion of 2016-2026 Long Term Financial Plan be based on the assumptions and scenarios outlined in this report.

(Woods/Dey)

The recommendation was put to the vote and declared carried.

There being no further business the meeting concluded at 3.18pm.

Venue	Conference Room, Station Street, Mullumbimby
Date	Thursday, 18 August 2016
Time	2.00pm