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Latrobe on track with budget in first quarter

First quarter was consistent with the budget forecasts

By Latrobe City Council - 7th November 2000 - Back to News

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At its Ordinary meeting held on Monday 6 November, Latrobe City Council received a financial report on the first quarter’s operations for 2000/2001.

Chief Executive Officer, Ms Penny Holloway, said that the result for the first quarter was consistent with the budget forecasts and noted that there had been no issues identified that would adversely impact on the achievement of the budgeted result for 2000/2001.

"The final result for 1999/2000 was more favourable than budgeted and therefore the anticipated surplus at 30 June 2001 is expected to be greater than budgeted. However, operations to 30 September 2000 are in line with budget projections," Ms Holloway said.

"The Capital Works Program has just commenced due to the delayed adoption of the budget (18 September 2000). However, since that time, work has begun in earnest, and at this stage it is expected that the majority of the program will be completed prior to 30 June 2001."

A detailed report in respect of the 1999/2000 result along with the annual report will be presented to Council at a Special meeting to be held 4 December 2000.


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