consultation that has enabled Council to assess needs and develop sound business cases for each project. This year's program includes a number of major building projects including the Japara Living and Learning Centre, Pinks Reserve Netball Facility, and the commencement of the Monbulk Regional Soccer Facility. (Capital works is forecast to be $36.15 million for the 2013-14 year). The graph below sets out the required and actual asset renewal over the life of the current Strategic Resource Plan and the renewal backlog. The asset renewal program has not increased in the 2014-15 year, however over the rest of the four year period, it is expected to increase substantially as funds are directed into asset renewal to close the gap, which is evident from the graph above. 6. Financial position The graph above reflects working capital, which is Current Assets less Current Liabilities Council’s and demonstrates ability to pay short term liabilities. As can be seen from the trend, Council’s working capital position remains stable going forward. Council’s The financial position is expected to improve with net assets (net worth) to increase by $37.65 million to $909.75 million. This is mainly due to the increase in infrastructure assets and a stronger cash position. (Total equity is forecast to be $872.10 million as at 30 June 2014). 7. Financial sustainability A high level Strategic Resource Plan for the years 2014-15 to 2017/18 has been developed to assist Council in adopting a budget within a longer term prudent financial framework. The key objective of the Plan is financial sustainability in the medium to long term, while still achieving the Council’s strategic objectives as specified in the Council Plan. The adjusted underlying result, which is a measure of financial sustainability, shows an increasing surplus over the four year period. 8. Strategic objectives The Annual Budget includes a range of services and initiatives to be funded that will contribute to achieving the strategic objectives specified in the Council Plan. The above graph shows the level of funding allocated in the budget to achieve the strategic objectives as set out in the Council Plan for the 2014-15 year. 9. Council expenditure allocations The above chart provides an indication of how Council allocates its expenditure across the main services that it delivers. It shows how much is allocated to each service area for every $100 that Council spends.
consultation that has enabled Council to assess needs and develop sound business cases for each project. This year's program includes a number of major building projects including the Japara Living and Learning Centre, Pinks Reserve Netball Facility, and the commencement of the Monbulk Regional Soccer Facility. (Capital works is forecast to be $36.15 million for the 2013-14 year). The graph below sets out the required and actual asset renewal over the life of the current Strategic Resource Plan and the renewal backlog. The asset renewal program has not increased in the 2014-15 year, however over the rest of the four year period, it is expected to increase substantially as funds are directed into asset renewal to close the gap, which is evident from the graph above. 6. Financial position The graph above reflects Council’s working capital, which is Current Assets less Current Liabilities and demonstrates Council’s ability to pay short term liabilities. As can be seen from the trend, Council’s working capital position remains stable going forward. The financial position is expected to improve with net assets (net worth) to increase by $37.65 million to $909.75 million. This is mainly due to the increase in infrastructure assets and a stronger cash position. (Total equity is forecast to be $872.10 million as at 30 June 2014). 7. Financial sustainability A high level Strategic Resource Plan for the years 2014-15 to 2017/18 has been developed to assist Council in adopting a budget within a longer term prudent financial framework. The key objective of the Plan is financial sustainability in the medium to long term, while still achieving the Council’s strategic objectives as specified in the Council Plan. The adjusted underlying result, which is a measure of financial sustainability, shows an increasing surplus over the four year period. 8. Strategic objectives The Annual Budget includes a range of services and initiatives to be funded that will contribute to achieving the strategic objectives specified in the Council Plan. The above graph shows the level of funding allocated in the budget to achieve the strategic objectives as set out in the Council Plan for the 2014-15 year. 9. Council expenditure allocations The above chart provides an indication of how Council allocates its expenditure across the main services that it delivers. It shows how much is allocated to each service area for every $100 that Council spends.
adopted_budget_2014-15.docx