Nillumbik reports $38.6m cash and $15.65m in borrowings at September quarter

Council’s financial report shows a $1.01 million favourable year-to-date operating variance and rates collection of 21.24 per cent. The first rates instalment was due on 30 September.

Council: Nillumbik Shire Council

Meeting: 27 October 2026

Recorded status: noted


BRIEF

Nillumbik Shire Council’s September quarter financial report recorded $38.6 million in cash, $19.5 million in term deposits, $1.155 billion in net assets and $15.65 million in borrowings at 30 September 2026. Year-to-date operating performance was reported as $1.01 million favourable against budget, while rates collection was 21.24 per cent and capital works expenditure was $3.28 million. The unconfirmed meeting minutes record that council received and noted the report unanimously.


KEY FACTS

- Cash was reported at $38.6 million and term deposits at $19.5 million at 30 September 2026.

- Total net assets were reported at $1.155 billion and borrowings at $15.65 million.

- The report recorded a $1.01 million favourable year-to-date net operating variance, described as 0.12 per cent of the year-to-date budget; the supplied summary does not provide the budget amount needed to verify that percentage.

- Rates collection was 21.24 per cent year to date; the first instalment was due on 30 September.

- Year-to-date capital works expenditure was $3.28 million and loan repayments were $770,000.

- The unconfirmed minutes record that council unanimously received and noted the financial report on 27 October 2026.


ANALYSIS OF THE RECORD

- The source records council's description of its financial position as sound and stable; the article does not present that description as an independent assessment.

- The recorded resolution concerned receiving and noting the report, not approving a new spending allocation.

- The report states the operating variance percentage, but the supplied summary does not include the underlying year-to-date budget amount needed to verify its calculation.


QUESTIONS FOR FOLLOW-UP REPORTING

- What projects account for the $3.28 million in year-to-date capital works expenditure, and how does that compare with the full-year capital works budget?

- What was the year-to-date budget amount used to calculate the $1.01 million favourable operating variance?

- What proportion of rates expected for the year had been collected by the next quarterly reporting date?


SOURCE PASSAGES

The September Quarter Financial Report covers council's financial performance and position for the period ended 30 September 2026.
"Officers' reports CM.106/26 Nillumbik Shire Council Annual Report 2025-2026 26 THIS PAGE WAS LEFT INTENTIONALLY BLANK Council Meeting Minutes 27 October 2026 27 12. Officers' reports CM.107/26 September Quarter Financial Report Distribution: Public Manager: Bulent Oz, Chief Financial Officer Author: Kyle Pervera, Manager Finance Summary This report outlines Council's financial performance and position for the period ended 30 September 2026." (CM.107/26 September Quarter Financial Report, summary)

Council's quarter-end cash position was reported at $38.6 million, with $19.5 million in term deposits and $1.155 billion in total net assets.
"Council's financial position remains sound and stable at quarter-end, with a cash position of $38.6 million and funds held in term deposits of $19.5 million. Total net assets stand at $1.155 billion." (CM.107/26 September Quarter Financial Report, financial position)

The report states a $1.01 million favourable year-to-date net operating variance, described as 0.12 per cent of the year-to-date budget. It also reports rates collection of 21.24 per cent and capital works expenditure of $3.28 million, with the first rates instalment due on 30 September 2026.
"The Financial Performance Statement shows an overall favourable year‑to‑date (YTD) Net Operating variance of $1.01 million, representing 0.12% of the YTD budget. Rates revenue is tracking largely in line with expectations. The first instalment was due on 30 September 2026, with 21.24% collected year‑to‑date. YTD expenditure on capital works projects totalled $3.28 million, with works progressing across a range of projects." (CM.107/26 September Quarter Financial Report, operating variance, rates and capital works)

Year-to-date loan repayments were reported at $0.77 million, equivalent to $770,000, and total borrowings at $15.65 million.
"YTD loan repayments of $0.77 million have been made, with total borrowings currently at $15.65 million. Council Resolution MOVED: Cr Grant Brooker SECONDED: Cr Kate McKay That Council receives and notes the Financial Report for the period ended 30 September 2026 (Attachment 1)." (CM.107/26 September Quarter Financial Report, borrowings)

The minutes record that council received and noted the financial report for the period ended 30 September 2026, and that the resolution carried unanimously.
"YTD loan repayments of $0.77 million have been made, with total borrowings currently at $15.65 million. Council Resolution MOVED: Cr Grant Brooker SECONDED: Cr Kate McKay That Council receives and notes the Financial Report for the period ended 30 September 2026 (Attachment 1). CARRIED UNANIMOUSLY Tania Treasure Manager Customer, Communications and Strategic Partnerships left the meeting at the conclusion of the above item at 8.30pm. Council Meeting Minutes 27 October 2026 12." (CM.107/26 September Quarter Financial Report, council resolution and result)

The supplied minutes' confirmation line is blank.
"Confirmed: _______________________________ Cr Naomi Joiner, Mayor" (Closing confirmation line)


SOURCES

https://nillumbik.infocouncil.biz/RedirectToDoc.aspx?URL=Open/2026/10/CM_27102026_MIN_1513.PDF

https://minutesradar.com/news/nillumbik-infocouncil-council-meeting-27-oct-2026-27-oct-2026-minutes-nillumbik-reports-38-6m-cash-and-15-65m-in-borrowings-at-september-quarter/


Prepared from public council minutes using automated drafting and checks. No meeting attendance or interviews are implied. Check the original record and seek comment before republishing claims or analysis. Illustrations are generic, not depictions of actual projects.