It is resolved that:
(A) Council note the financial performance of Council for the third quarter, ending 31 March 2026, including a Quarter 3 Operating Result (before depreciation, interest, capital related costs and income) of $84.8M and the full year forecast of $117.1M and a Net Operating Result of $76.6M and a full year forecast of $109.3M as outlined in the subject report and summarised in Attachment A to the subject report;
(B) Council note the Quarter 3 Capital Works expenditure of $175.4M and a revised full year forecast of $278.0M, and approve the proposed adjustments to the adopted budget, including bringing forward $0.3M and utilise $5.7M in contingency, and reallocate the funds within relevant programs as outlined in attachment B, budget adjustments section;
(C) Council note the Technology and Digital Services Capital Works expenditure of $21.1M, and a full year forecast of $28.7M and approve the reallocation of $0.19M funds within relevant programs within capital budget as detailed in Attachment B, budget adjustments section;
(D) Council note the Quarter 3 Plant and Equipment expenditure of $10.4M, net of disposals, and a full year forecast of $21.9M;
(E) Council note the net Property Divestments of $7.9M as at quarter 3, and the full year forecast of $169.9M; (F)
(F) Council note the supplementary reports, which detail the quick response and venue hire support grants and street banner sponsorship programs, major legal issues and international travel in Quarter 3, as detailed in Attachment C to the subject report;
(G) Council note the Office of Local Government (OLG) Quarterly Budget Review Statement (QBRS) in Attachment D to the subject report; and
(H) Council approve the write-off of commercial property debts totalling $284,666.87 (including GST), for Fotolab Pty Ltd and Harbour City International Pty Ltd.
Carried unanimously.
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