Decision details

THAT THE CITY FINANCE AND GOVERNANCE COMMITTEE RECOMMENDS TO COUNCIL

THAT COUNCIL

1.         In accordance with Section 123 of the Act and Regulation 6 of the Local Government (Financial Management) Regulations 2011 (the Financial Management Regulations), and

2.         Having considered in accordance with Section 123(6) of the Act:

a.      all submissions made to the Council during the public consultation period; and

b.      the following new or revised information in the possession of the Council that is relevant to the material contained in the Draft Business Plan,

adopts the 2026/27 Business Plan set out in Attachment A to Item 7.1 on the Agenda for the meeting of the City Finance and Governance Committee held 16 June 2026 noting that there are no significant changes to the 2026/27 Business Plan following internal review and public consultation throughout May 2026.

3.         In accordance with Section 123 of the Act and Regulation 7 of the Financial Management Regulations, adopts the 2026/27 Budget set out in Attachment A to Item 7.1 on the Agenda for the meeting of the City Finance and Governance Committee held 16 June 2026 which the Council has considered in conjunction with and determined to be consistent with the Council’s Business Plan.

4.         Approves the 2026/27 Budget delivering an operating surplus of $4.976 million.

5.         Approves the 2026/27 Budget with projected borrowings of $81.344 million at the end of 2026/27.

6.         Approves the 2026/27 Budget delivering a capital program of $111.422 million of which $68.825 million in renewal works will deliver an Asset Renewal Funding Ratio of 94.6%.

7.         Approves the 2026/27 Business Plan & Budget for Council’s Subsidiary Adelaide Central Market Authority provided as Attachment B to Item 7.1 on the Agenda for the meeting of the City Finance and Governance Committee held 16 June 2026.

8.         Approves the 2026/27 Business Plan & Budget for Council’s Subsidiary Adelaide Economic Development Agency provided as Attachment C to Item 7.1 on the Agenda for the meeting of the City Finance and Governance Committee held 16 June 2026.

9.         Approves the 2026/27 Business Plan & Budget for Council’s Subsidiary Kadaltilla / Adelaide Park Lands Authority provided as Attachment D to Item 7.1 on the Agenda for the meeting of the City Finance and Governance Committee held 16 June 2026.

10.       Notes the 2026/27 Business Plan and Budget includes a capital allocation of $0.320 million and $0.179 million operating contribution for Brown Hill Keswick Creek Stormwater Board (Regional Subsidiary).

11.       Authorises the Chief Executive Officer to make any necessary changes to the 2026/27 Business Plan & Budget document arising from this meeting, together with any editorial amendments and finalisation of the document’s formatting and graphic design.

Undertaking - 2026/27 Business Plan & Budget - Final for Approval

In response to a query from Councillor Davis, an undertaking was given to provide Council Members with a breakdown of cost increases and service level changes over the past 4 years.