Moira Shire Council has noted a strong financial performance for the March quarter in a report presented at its May meeting.
Councillors noted a predicted quarter surplus had been affected by a delay in the receipt of federal funding, but had gained additional income from the sale of plant equipment and land.
Cr Wendy Buck said council’s balance sheet remained strong and the variance in current assets was only due to a projected reduction in the cash balance resulting from the delay in receiving Roads to Recovery funding.
‘‘The cash position of Moira remains strong, the capital works budget for the March quarter is $13.19million, but the total capital works program is $15.77million, including works carried over from the last financial year,’’ she said.
‘‘The financial indicators remain within an acceptable range, which is what we try and achieve at Moira.
‘‘The projected surplus for the March quarter was expected to be $1096860, a decrease compared to the December 2016 forecast of $2193849, as stated in the balance sheet, due to the timing of the Roads to Recovery funding.
‘‘While there was a timing difference, there has been an increases in capital income due to the higher-than-planned income from the sales of land and plant and equipment.’’
Cr Buck said council had also picked up additional grants for the Queensland fruit fly management program, and noted the effects of the cessation of the Family Day Care service.
Cr Ed Cox said he also supported the quarterly review.
‘‘I’m pleased our capital works program is on track and no doubt, as Cr Buck has explained, there’s going to be work carried over into the future,’’ he said.