MRC quarterly budget review

Murray River Council was presented with the quarterly budget review at its ordinary meeting this week, which highlighted a reduction in the overall budget deficit.

Overall working capital has continued to improve on the 2020/21 original budget deficit of $1,209,938 to a revised budget deficit of $511,665 as at end of 31 December 2020.

The review has also revised the estimated operating surplus of $10,162,413 to $10,604,091.

This is predominantly due to an increase in capital grants, which has a corresponding increase in capital expenditure.

Murray River Council Mayor, Chris Bilkey said it’s pleasing to see a decrease in the original budget deficit at this most recent review.

“This latest review highlights the organisation’s efforts to work towards a sensible and balanced budget.”

“To see the budget deficit improve by $698,273 is a great outcome.”

Quarterly budget updates provide the opportunity for adjustments to be made to the existing budget based on actual financial performance during the year.

It provides analysis of Council’s annual budget to better illustrate its financial position and help determine if any changes are needed for each period.

“The results for this quarter are certainly positive as we continue to implement measures to achieve financial sustainably for the longer term,” Cr Bilkey said.