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Council report · Ordinary Meeting, 16 July 2026 · item 13.2

FINANCIAL PERFORMANCE REPORT JUNE 2026

Officer report · Financial Services | Corporate Services Department · Financial Services Manager, Zach Morton-Adair

Summary

To meet its monthly reporting obligations under Section 204 of the Local Government Regulation 2012 (the Regulation), a monthly financial report is provided to Council for its information.

This report complies with Section 204 of the Regulation and presents Council's financial performance to 30 June 2026 against the Revised Budget for the 2025/26 financial year, as adopted by Council on 19 February 2026. The Revised Budget was subsequently included in, and reconfirmed through, the 2026/27 Budget adoption at the Special Meeting held on 23 June 2026.

At 30 June 2026, Council's interim financial year results show an unfavourable Net Result variance to budget of $10.9 million, comprising a $4.6 million favourable operating result variance and an unfavourable $15.5 million variance from Council's capital funding sources. The unfavourable Net Result variance largely reflects the timing of capital grant receipts and capital project accounting treatments, partially offset by higher than anticipated interest payments and operating grants and subsidies.

These interim 2025/26 financial year results are still subject to year-end financial adjustments with a further report on final 2025/26 financial performance to be provided to Council in November 2026 following the finalisation and independent audit of the financial statements in October 2026.

At 30 June 2026, capital expenditure remains below budget, with variances primarily attributable to project timing, completion of the disaster recovery program and the review and reclassification of work-in-progress balances.

Rates and utility charge arrears continue to track within historical norms following the expected postlevy cycle.

At 30 June 2026, the key drivers of Council's interim financial position are lower than anticipated capital revenues, higher-than-anticipated operating revenues and the timing of delivery of the capital works program. Based on information currently available, no additional financial risks have been identified that are expected to materially impact Council's final 2025/26 financial result.

Due to the net impact of timing variations in the delivery of the 2025/26 Capital Works Program, together with changes in cash balances and cash flow movements during the year, Council has achieved a stronger-than-anticipated cash position at 30 June 2026. As a result, Council-approved 2025/26 loan borrowings of $3.1 million were not drawn down.

The officer’s recommendation

That Council note the report by the Financial Services Manager to the Ordinary Meeting dated 16 July 2026 regarding Council's financial performance to 30 June 2026.

Where this sits in the corporate plan

Objective 5.2 Financially sustainable Council

As stated in the report; one square per initiative under the objective this year.

How it’s funded

To meet its monthly reporting obligations under section,
report is to be provided to Council for its information. This report complies with section
Regulation2026
Revised Budget for the2026

Previously before Council

Financial Performance Report April 2026 to the 18 June 2026 Ordinary Meeting.

Report details

Index: ECM/Subject/22.09/Monthly Financial Performance Reporting

Attachments

  • 1 · Attachment 1 - Statement of Income and Expenditure 30 June 2026
  • 2 · Attachment 2 - Statement of Financial Position 30 June 2026
  • 3 · Attachment 3 - Statement of Changes in Equity 30 June 2026
  • 4 · Attachment 4 - Financial Analytics 30 June 2026
  • 5 · Attachment 5 - Capital Financial Performance 30 June 2026

Extracted from Council’s published agenda; the original PDF ↗ on CivicClerk remains the authoritative record.