Grant District Council has projected an operating deficit decrease by more than 50% for the current financial year.
Council’s corporate services director Gary Button provided a summary of the budget review at council’s recent meeting.
This included a summary of expenses, revenues and asset disposal.
“As a result of these budget variations, council’s projected operating deficit will decrease from $490,221 to $232,362 for this financial year,” Mr Button said.
In addition, Mr Button reported council’s projected cash position will increase.
“Council’s projected cash position will increase by $291,695 following the net adjustments of this budget review,” he said.
Mr Button reported that as of the end of December 2021 there was approximately $5.6m held in cash.
“This is sufficient to fund council’s activities during the financial year,” Mr Button said.
Details on the performance of individual budget lines were provided in an attachment to the report.
Under the Local Government Act Council is required to reconsider its budget at least three times in the relevant financial year.
A further budget review will be reported to council in May.