funding ยท Nillumbik Shire Council
Nillumbik notes March financial report, with $20.6 million spent on capital works
Council received and noted its March quarter financial report, which showed rates revenue tracking largely as anticipated, $20.6 million in capital works spending and $2.0 million in loan repayments year-to-date.
Nillumbik Shire Council has received and noted its financial report for the period ended 31 March 2026, according to a resolution passed at its 28 April meeting in Greensborough.
The minutes state Council's financial position remained sound and stable at quarter-end, with a cash position of $34.7 million and funds held in investments of $34.89 million. Total net assets were listed as $1.063 billion.
Council's income statement showed a favourable year-to-date variance of $4.69 million, or 15.22 per cent of the year-to-date budget. The report said net operating income was $35.5 million, and attributed the result primarily to timing differences in non-recurrent income and the phasing of expenditure.
Rates revenue was reported as tracking largely as anticipated. The third instalment was issued on 28 February 2026, with 70.12 per cent collected year-to-date.
The report also said year-to-date capital works expenditure totalled $20.6 million, with delivery progressing across a range of projects. Year-to-date loan repayments were $2.0 million, while total borrowings were $15.0 million.
Council resolved to receive and note the report. The minutes say the key financial focus for the rest of the year is continued monitoring of income and expenditure forecasts, with a view to working towards a balanced year-end position.
Key facts from the minutes
- Nillumbik Shire Council noted the financial report for the period ended 31 March 2026 at its 28 April 2026 meeting.
- The report stated Council had a cash position of $34.7 million and investments of $34.89 million at quarter-end.
- Total net assets were reported as $1.063 billion.
- The income statement showed a favourable year-to-date variance of $4.69 million, representing 15.22 per cent of the year-to-date budget.
- Rates revenue was described as tracking largely as anticipated, with 70.12 per cent of the third instalment collected year-to-date.
- Year-to-date capital works expenditure totalled $20.6 million.
- Year-to-date loan repayments were $2.0 million, with total borrowings at $15.0 million.
Why it matters
- The report gives residents a public snapshot of Council's finances and the pace of capital works delivery across the municipality.
Source and method
Source: Nillumbik Shire Council meeting minutes and financial report resolution from 28 April 2026.