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Council report · General Committee Meeting, 16 March 2026 · item 8.3

FINANCIAL PERFORMANCE REPORT FEBRUARY 2026

Officer report · Financial Services | Corporate Services Department · Acting 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 to be provided to Council for its information.

This report complies with section 204 of the Regulation, providing Council with a report on its financial performance to 28 February 2026 against its Revised Budget for the 2025-26 financial year as adopted by Council on 19 February 2026.

At 28 February 2026, Council had a favourable Net Result variance to budget of $4.8m, with $2.9m of this variance attributable to Council's operating result and a further $1.9m derived from Council's capital funding sources.

At 28 February 2026, noting the impacts of higher than anticipated operational revenue streams and the timing of the delivery of the capital works program, there are no identified financial risks that will impact Council's forecasted financial position at 30 June 2026.

Further to this, following the adoption of Budget Review 2 for the 2025-26 financial year at Council's Ordinary Meeting on 19 February 2026, Council is now required to adopt an amended debt policy.

The attached revised 2025-26 Debt Policy (Attachment 6) now reflects total borrowings of $3.1m in the 2025-26 financial year with borrowings in the outer years remaining unchanged. There are no additional changes to the policy other than reflecting the updated position of Budget Review 2.

The officer’s recommendation

That Council:

  1. Note the report by the Revenue Services Manager and Financial Services Manager (Acting) to the General Committee dated 16 March 2026 regarding Council's financial performance to 28 February 2026; and
  2. Adopt the revised 2025-26 Debt Policy (Attachment 6) which incorporates the revised borrowings adopted by Council at its Ordinary Meeting on 19 February 2026.

✓ CARRIED · For: Cr Brian Stockwell, Cr Karen Finzel, Cr Amelia Lorentson, Cr Jessica Phillips, Cr Tom Wegener, Cr Frank Wilkie, Cr Nicola Wilson Against: · moved Cr Tom Wegener, seconded Cr Nicola Wilson · see the meeting

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,
This report complies with section,
performance to-26
adopted by Council on2026

Previously before Council

Nil

Report details

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

Attachments

  • 1 · Attachment 1 - Statement of Income and Expenditure 28 February 2026
  • 2 · Attachment 2 - Statement of Financial Position 28 February 2026
  • 3 · Attachment 3 - Statement of Changes in Equity 28 February 2026
  • 4 · Attachment 4 - Financial Analytics 28 February 2026
  • 5 · Attachment 5 - Capital Performance 28 February 2026
  • 6 · Attachment 6 - Revised 2025-26 Debt Policy

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