Nillumbik notes March financial report as capital works spend reaches $20.6 million

Nillumbik Shire Council has noted its March quarter financial report, with year-to-date capital works spending at $20.6 million and rates revenue tracking largely as anticipated.

At its 28 April meeting, council received the report for the period ended 31 March 2026. The public minutes show council’s financial position was described as sound and stable at quarter-end, with a cash position of $34.7 million, investments of $34.89 million and total net assets of $1.063 billion.

The report recorded an overall favourable year-to-date variance of $4.69 million, or 15.22 per cent of the year-to-date budget. Net operating income was listed at $35.5 million, with the variance attributed primarily to timing differences in receiving non-recurrent income and the phasing of expenditure, rather than structural factors.

Rates revenue continued to track largely as expected. The third instalment was issued on 28 February 2026, with 70.12 per cent collected year-to-date by the end of March.

For residents and ratepayers, the report provides a snapshot of council’s current financial position and how far major works spending has progressed across the municipality. It also shows council had made $2.0 million in loan repayments year-to-date, with total borrowings at $15.0 million.

The report said the key financial focus for the rest of the year would be continued monitoring of income and expenditure forecasts while working towards a balanced year-end position.

Councillors carried the motion unanimously to receive and note the financial report.