THAT THE AUDIT AND RISK COMMITTEE RECOMMENDS TO COUNCIL
THAT COUNCIL
1. Receives the City of Adelaide 2025/26 Business Plan and Budget Quarter 3 Review as contained in Attachment A to Item 6.2 on the Agenda for the meeting of the Audit and Risk Committee held on 22 May 2026.
2. Approves adjustments for the 2025/26 Business Plan and Budget (BP&B) as identified in this report and contained in Attachment A to Item 6.2 on the Agenda for the meeting of the Audit and Risk Committee held on 22 May 2026.
3. Notes the year-to-date Operating (Financial Performance) for the quarter ending 31 March 2026, which includes:
3.1. An operating surplus of $20.684m ($11.299m higher than the budget of $9.385m, for the period)
3.2. Total operating revenue of $191.308m ($2.865m higher than the budget of $188.443m, for the period)
3.3. Total operating expenses (including depreciation) of $170.624m ($8.434m lower than the budget of $179.058m, for the period)
3.4. Total Capital Expenditure of $54.389m ($3.196m higher than the budget of $51.193m, for the period)
3.5. Net cash surplus position of $10.091m.
4. Approves budgeted year end Operating Position, which includes:
4.1. An operating surplus of $8.541m (consistent with the adopted budget of $8.541m)
4.2. Total operating revenue of $255.864m ($2.582m higher than the Q2 budget of $253.282m)
4.3. Total operating expenses (including depreciation) of $247.323m ($2.582m higher than the Q2 budget of $244.741m).
5. Approves total capital expenditure of $112.274m for 2025/26 year ($8.389m lower than the Q2 budget of $120.663m).
6. Approves total borrowings of $45.828m projected to 30 June 2026 ($4.849m lower than the Q2 projected borrowings of $50.677m to 30 June 2026).
7. Receives the Council Subsidiary Quarter 3 Reviews as contained as Attachments B, C, D and E to Item 6.2 on the Agenda for the meeting of the Audit and Risk Committee held on 22 May 2026.