A surplus budget in excess of $140,000 for this financial year has been forecast for Council.
According to Juliet van Oirschot, Acting Director Corporate and Business Services, this review process has generated a turnaround of almost $800,000 since February.
“The review conducted by Executive, financial staff and each manager in the organisation covered both income and expenditure items within each area. Any additional allocations or project underspends were captured through this detailed review.
“A substantial amount of the savings can also be attributed to staff positions that were vacant for a significant period of time,” said Ms Oirschot.
Other factors that have contributed include a $500,000 increase on investments within the General Fund which is due to conservative interest estimates.
The report also recognised other grants and contributions have been received, along with the expenditure budget for these funds, with the net impact of these variations being nil.
