The budget shows a steady financial position, with continued focus on renewing and maintaining community assets.
As part of council’s standard financial management process, the review outlines any adjustments to the original annual budget based on updated information from the second quarter of the year.
Murray River Council Mayor John Harvie said the review demonstrated council’s commitment to responsible budgeting and long-term sustainability.
“The second quarterly review shows council’s finances are slightly stronger than expected, with some projects rescheduled, more grant funding secured and a continued focus on maintaining existing infrastructure while improving long-term financial sustainability,” he said.
The review has shown council’s projected operating surplus has increased by $1.7 million, now sitting at $6.05 million due to updated capital funding and stronger investment income.
The net operating result, not including capital revenue, has had a favourable variance of $0.248m to a $5.961m deficit.
Employee expenses have risen slightly following a review of staffing and vacancies; however, overall expense increases remain minimal (around 0.3 per cent).
The capital program has been reduced by $3.25 million to better match the actual timing of projects across the 2026/27 years, meaning some works will happen at different times.
The funded component of capital works via external grants and contributions has increased by $1.187 million, with $6.598 million in council’s own source funding required, down from $8.815 million in the first quarterly budget review.
Cash and investments have increased by $4.9 million, now projected at $54.7 million by June 30, largely due to delayed capital spending and improved operating results.
Cr Harvie said while the financial position of council was satisfactory following the review, achieving long-term financial sustainability continued to be an important focus.
“To ensure we are on the path to financial sustainability, we need to continue our advocacy efforts to address funding shortfalls from state and federal government, along with the revenue constraints imposed upon us,” he said.
To view the full quarterly budget reviews, visit tinyurl.com/2tmwdpra.
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