Attachments: 1. Supporting Attachment 2. Financial Performance Report June 2016 3. Summary Listing of Supplementary Valuations

Report to the Future Melbourne (Finance and Governance) Committee

Agenda item 6.9

2015–16 Fourth Quarter June 2016 YTD Financial Performance Report 16 August 2016 Presenter: Phu Nguyen, Chief Financial Officer

Purpose and background

1. The purpose of this report is to inform the Future Melbourne Committee of the financial performance of the Council for the financial year ended 30 June 2016, in accordance with the Local Government Act 1989 (the Act) and to provide information on supplementary valuations adopted by the Chief Executive Officer under delegation (refer Attachment 3).

Key issues

2. The preliminary result from ordinary activities for the 12 month period ending 30 June 2016 shows an underlying surplus on the Income Statement of $16.09 million. This is a favourable variance of $6.68 million against the budgeted underlying surplus of $9.41 million.

3. A detailed analysis of revenue and expenditure is included in Attachment 2.

4. In addition to the underlying surplus, in accordance with accounting standards, the Council is also required to reflect a comprehensive result in the Annual Report. The comprehensive result includes additional non-cash items including revaluation of Council assets. The Council has an asset base in excess of $4.08 billion with parkland, roads, footpaths, buildings, kerbs and channels and infrastructure assets being the most significant items.

5. Given the asset base size, revaluations often generate significant non cash gains or (losses) that are unlikely to be realised but do need to be reflected to comply with accounting standards.

6. The comprehensive result for Council in 2015–16 is $289.14 million ($143.71 million 2014–15) with revaluation of assets being the most significant reason.

7. The reported result is subject to audit by the Victorian Auditor General’s Office.

Recommendation from management

8. That the Future Melbourne Committee:

8.1. Accepts the preliminary underlying surplus of $16.09 million for the Council financial performance for the 2015–16 financial year.

8.2. Accepts the preliminary comprehensive result of $289.14 million for the Council financial performance for the 2015–16 financial year.

8.3. Approves the submission of the Consolidated Financial Statements and Performance Statements to the Audit Committee on 26 August 2016 and then to Council.

8.4. Resolves whether to refer any matters to the audit committee.

8.5. Calls a special Council meeting on 6 September 2016 at 5pm to consider and approve in principle the Consolidated Financial Statements and Performance Statements.

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Supporting Attachment

Legal

1. Section 138 of the Act provides that at least every three months, the Chief Executive Officer must ensure that a statement comparing the budgeted revenue and expenditure for the financial year with the actual revenue and expenditure to date is presented to the Council.

2. Section 131 (7) of the Act provides the Council must not submit the financial statements to its auditor or the Minister unless it has first passed a resolution giving its approval in principle to the same.

Finance

3. The financial implications are detailed in the body of the report and attachments.

4. The comprehensive result for the Council is summarised in the table below.

$M

Underlying Surplus/(Deficit) 16.09

Plus external contributions to capital 21.54

Plus gain on property investment revaluation 16.85

Plus contributed assets 4.15

Less loss on investment revaluation (0.26)

Surplus for the year 58.37

Net asset revaluation increment (decrement) 230.77

Comprehensive Result 289.14

Conflict of interest

5. No member of Council staff, or other person engaged under a contract, involved in advising on or preparing this report has declared a direct or indirect interest in relation to the matter of the report.

Stakeholder consultation

6. Consultation with the various branches of Council has been undertaken in preparation of this report.

Environmental sustainability

7. The financial performance for the quarter ended 30 June 2016 reflects many activities impacting on environmental sustainability. There is no direct impact on environmental sustainability from the recommendations in this report.

Attachment 1Agenda item 6.9

Future Melbourne Committee 16 August 2016

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FINANCIAL

PERFORMANCE

REPORT

June 2016

Attachment 2 Agenda item 6.9

Future Melbourne Committee 16 August 2016

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Executive Summary

Key Financial Implications: The underlying surplus is $16.088 million, which is $6.677 million favourable against budget. The most significant variances are: Cash Development Contributions ($3.615 million) due to higher Public Open Space contributions. Sales & Recoveries ($3.291 million Fav) due mainly to higher recoveries including in-kind grants. Grants & Subsidies ($2.586 million Fav) due mainly to additional grants received, including Dockland Park

Enhancement works. Parking Fees ($1.800 million Fav) due mainly to higher parking meter revenue. Finance Income ($1.659 million Fav) due to higher investment income as a result of cash holdings being

higher than budget. This was due to funds received from the Clean Energy Finance Corporation. Sundry fees & charges ($1.640 million Fav) due mainly to higher building fees. Property Rental & Hire ($1.443 million Fav) due mainly to higher property rental revenue and surrender of

lease at Mirvac Building. Employee Costs ($3.863 million Unfav) largely due to work being done in-house and lower than budgeted

turnover of staff during the course of the year. Underlying Operating Results

2014-15 2015-16 $000s

Actual Budget Budget Actual Variance

423,968 409,688 Revenue 409,688 424,963 15,275375,389 385,804 Operating Expenditure 385,804 386,812 (1,008)48,579 23,884 Results from Ordinary Activities 23,884 38,151 14,2681,382 920 Total Gain/(Loss) on Sale 920 (526) (1,446)

364 0 Gain on Investment Revaluation 0 16,849 16,84932,093 0 Contributed Assets 0 4,157 4,157

(232) 0 Writtendown on Investment 0 (264) (264)82,187 24,804 Profit/(Loss) 24,804 58,366 33,562(31,940) (15,393) Less External Contributions to Capital (15,393) (21,541) (6,148)

(364) 0 Less Gain on Investment Revaluation 0 (16,844) (16,844)(32,093) 0 Less Contributed Assets 0 (4,157) (4,157)

232 0 Add Writedown on Investment 0 264 26418,022 9,411 Underlying Surplus/(Deficit) 9,411 16,088 6,677

Year to Date

Council Works Program The value of works completed is $86.779 million compared to the planned $113.996 million work.

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Table of Contents

Page Income Statement 4 Balance Sheet 5 Cash Flow Statement 7 Revenue Details 9 Expense Details 12 Council Works – Expenditure 15 Investment Portfolio Performance 16 Supplementary Valuations 17

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$ Thousands Period: Jun-16

2014-15 2015-16

Actual Budget Budget Actual Variance

REVENUE

231,190 243,601 Rates 243,601 243,691 9033,389 22,234 Grants & Subsidies 22,234 24,815 2,58112,111 6,000 Cash Development Contributions 6,000 9,615 3,61549,270 46,593 Parking Fees 46,593 48,393 1,80043,813 43,628 Fines 43,628 43,069 (559)23,762 23,245 Sundry Fees & Charges 23,245 24,885 1,6407,724 8,058 Property Rental & Hire 8,058 9,501 1,4437,409 3,487 Sales & Recoveries 3,487 6,778 3,2913,416 652 Finance Income 652 2,311 1,659

423,968 409,688 Total Revenue 409,688 424,963 15,275

EXPENDITURE

132,797 139,429 Employee costs 139,429 143,292 (3,863)150,753 149,900 Materials & Services 149,900 149,311 589

9,576 10,701 Finance & Insurance Costs 10,701 9,782 91957,684 59,749 Depreciation & Amortisation 59,749 58,785 96410,373 12,205 Maintenance Costs 12,205 11,040 1,16513,216 12,533 Grants & Contributions 12,533 12,893 (360)

990 1,287 Government Taxes & Levies 1,287 1,709 (422)375,389 385,804 385,804 386,812 (1,008)

1,382 920 Total Gain/(Loss) on Sale 920 (526) (1,446)364 0 Gain on Investment Revaluation 0 16,849 16,849

32,093 0 Contributed Assets 0 4,157 4,157(232) 0 Writtendown on Investment 0 (264) (264)

82,187 24,804 24,804 58,366 33,562

(31,940) (15,393) Less External Contributions to Capital (15,393) (21,541) (6,148)(364) 0 Less Gain on Investment Revaluation 0 (16,844) (16,844)

(32,093) 0 Less Contributed Assets 0 (4,157) (4,157)232 0 Add Writedown on Investment 0 264 264

18,022 9,411 Underlying Surplus/(Deficit) 9,411 16,088 6,677

Income Statement

Profit/(Loss)

Year to Date

Total Operating Expenditure

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Period: Jun-16

Prior Year Current Movement2014-15 Jun-16 2014-15Actual Actual Actual

AssetsCurrent Assets

108,519 Ref 1 Cash assets 88,110 (20,409)

25,552 Ref 2 Receivables 26,535 98310,030 Prepayments 1,789 (8,241)

2,634 Other Current Assets 5,454 2,820146,735 Total Current Assets 121,888 (24,847)

Non current assets31,658 Investments 31,394 (264)10,852 Ref 3 Intangible Assets 14,353 3,501

3,572,798 Ref 3 Property, Plant & Infrastructure 3,911,997 339,1993,594,777 Total Non-Current Assets 3,957,744 362,9673,741,512 TOTAL ASSETS 4,079,632 338,120

LiabilitiesCurrent Liabilities

(59,420) Ref 4 Payables (54,165) 5,255(28,606) Employee entitlements (30,151) (1,545)(1,663) Provisions (1,807) (144)

0 Loans & Borrowings (12) (12)(89,689) Total Current Liabilities (86,135) 3,554

Non- current Liabilities

(2,900) Employee entitlements (3,314) (414)

0 Ref 5 Non-Current Loans & Borrowings (30,000) (30,000)(2,900) Total Non-Current Liabilities (33,314) (30,414)

(92,589) TOTAL LIABILITIES (119,449) (26,860)

3,648,923 NET ASSETS 3,960,183 311,260

Equity

(1,892,914) Accumulated Surplus (1,959,164) (66,250)(1,756,010) Reserves (2,001,019) (245,009)

(3,648,923) TOTAL EQUITY (3,960,183) (311,260)

Balance Sheet

$ Thousands

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Balance Sheet

Comparison to prior Year June 2015 Actual

1. Cash assets have decreased by $20.409 million due mainly capital works payments.

2. Receivables are higher by $0.983 million due mainly to increase in debtors.

3. Property, Plant and Infrastructure assets have increased by $339.199 million due to fixed asset revaluation increase ($230.772 million), capital works ($74.025 million), contributed assets ($4.157 million), gain on investment revaluations ($16.849 million) and settlement of Munro Site ($76.345 million), which are partially offset by asset depreciation ($58.785 million).

4. Payables are lower by $5.255 million due mainly to lower creditor balances.

5. Non-Recurrent Loan & Borrowings increased by $30.000 million due to loan from Clean Energy Finance Corporation for sustainability capital projects.

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Statement of Cash Flows

$Thousands Period: Jun-16

2014-15 2015-16

Actual Actual

Cashflows from Operating Activities

Receipts

351,454 Rates, Fees and Charges 373,771

41,342 Grants and Other Contributions 34,435

3,416 Interest 2,311

9,140 Tax Equivalents - Subsidiaries 8,238

6,250 Sales & Recoveries 6,778411,602 425,532

Payments

(133,691) Employee Costs (141,333)

(152,096) Materials & Services (150,047)

(33,460) Grants and Other Payments (35,412)(319,247) (326,792)

92,355 Net Cash Inflow / (Outflow) from Operating Activities 98,740

Cashflows from Investing Activities

1,382 Profit/(Loss) from sale of property, plant & equipment 526

(87,302) Payments for property, plant & equipment (153,343)

(85,920) Net Cash Inflow / (Outflow) from Investing Activities (152,817)

Cashflows from Financing Activities

2,744 Dividends received 3,667

0 (Repayments)/Proceeds from borrowings 30,0002,744 Net Cash Inflow / (Outflow) from Financing Activities 33,667

9,180 Net Cash Inflow/ (Outflow) from all Activities (20,409)

99,339 Cash at beginning of the financial period 108,519

108,519 Cash at the end of Jun-16 88,110

9,180 Movement in cash equivalents (20,409)

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Period: Jun-16

2014-15 2015-16Actual Actual

62,157 Net Surplus/(Deficit) from operations 58,371

Add Back Non-Cash Items57,684 Depreciation & Amortisation 58,785(1,382) Loss/(Profit) on Sale of Assets 526

(364) Recognition of increase in investment properties (16,849)(11,562) Non Current Assets Additions (4,157)

657 Writedown on Investment 264107,190 Operating Surplus/(Deficit) before Non cash items 96,942

(12,635) Net Movement in Working Capital 4,5760 Procees from borrowings 30,000

(87,302) Capital Expenditure (77,033)0 Purchase of Munro Site (76,345)

1,927 Proceeds from sale of assets 1,452

9,180 Net Cash inflow/(outflow) (20,409)

$ Thousands

Statement of Cash Flow (reconciliation)

On a year-to-date basis Council had a total cash outflow of $20.409 million. This is comprised of:

An operating surplus before non-cash items of $96.942 million;

Proceeds from sale of assets of $1.452 million;

An outflow associated with capital expenditure of $77.033 million;

An outflow on purchase of Munro Site of $76.345 million;

An inflow from borrowings of $30.000 million; and

An inflow from working capital of $5.373 million.

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YTD Revenue Summary

$ Thousands Period: Jun-16

Annual

Budget REVENUE Budget Actual Variance

243,601 Ref 3.1 Net Rates 243,601 243,691 9022,234 Ref 3.2 Grants & Subsidies 22,234 24,820 2,5866,000 Ref 3.3 Cash Development Contributions 6,000 9,615 3,615

46,593 Ref 3.4 Parking Fees 46,593 48,393 1,80043,628 Ref 3.5 Fines 43,628 43,069 (559)23,245 Ref 3.6 Sundry Fees & Charges 23,245 24,885 1,6408,058 Ref 3.7 Property Rental & Hire 8,058 9,501 1,4433,487 Ref 3.8 Sales & Recoveries 3,487 6,778 3,291

652 Ref 3.9 Finance Income 652 2,311 1,659

12,190 Ref 3.10 Intercompany Revenue 12,190 11,905 (285)409,686 Total Revenue 409,688 424,968 15,280

Year to Date

15,000

30,000

45,000

60,000

75,000

250,000

0Net Rates Grants &

SubsidiesCash

DevelopmentContributions

Parking Fees Fines Sundry Fees& Charges

Prop Rental &Hire

Sales &Recoveries

FinanceIncome

Inter-CoRevenue

Actual Budget

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Analysis of Revenue Variances Budget $409.688 Actual $424.968 Variance $15.280m favourable

3.1 Net Rates -0.0% Variance $0.090m Fav

This unfavourable variance is due mainly to 0.928 million higher Rates income, which is offset by $0.784 million valuer general adjustments. 3.2 Grants & Subsidies 11.6% Variance $2.586m Fav

This favourable variance is due mainly to: $2.300 million grants from Places Victoria in relation to Dockland Park Enhancement Works; $0.651 million Blackspot funding from VicRoads; $0.357 million fund for City Road Improvement project; $0.280 million additional Roads for Recovery funds; $0.222 million engineering project funding from VicRoads and TAC; $0.217 million community services funds; $0.205 million sustainability project contributions; and $0.200 million Arts Catalyst program funding.

The above favourable variance is partly offset by:

$1.525 million Vic Grants Commission first instalment of 2015-16 received in last financial year; $0.806 million funding for University Square Project not received this financial year; $0.255 million arts grants of 2015-16 received in last financial year; and $0.335 million lower Federal arts grants allocation to Australia Council.

3.3 Cash Development Contributions 60.3% Variance $3.615m Fav

This favourable variance is due to higher Public Open Space contributions.

3.4 Parking Fees 3.9% Variance $1.800m Fav

This favourable variance is due to $2.232 million higher parking meter revenue as a result of increased revenue from construction zones and more parking spaces than budgeted, which is partially offset by $0.374 million lower car park parking fees and $0.056 million lower towaway fees.

3.5 Fines (Parking Fines and General Fines) -1.3% Variance ($0.559m) Unfav

This unfavourable variance is due to lower than anticipated parking infringements being issued as a result of increased compliance and lower vehicle turnover.

This favourable variance is due mainly to: $1.472 million higher building fees; $0.186 million higher tree removal fees; $0.120 million property project settlement fee for Transfield contract; $0.107 million local law permits; and $0.087 million event site fees and admission income.

The above favourable variance is partially offset by $0.251 million lower sales of tickets for the Melbourne Visitor Shuttle and $0.238 million lower recreation centre membership income.

This favourable variance is higher property rental revenue surrender of lease at Mirvac Building. Analysis of Revenue Variances

3.6 Sundry Fees & Charges (excluding parking and hire fees) 7.1% Variance $1.640m Fav

3.7 Property Rental & Hire Fees 17.9% Variance $1.443m Fav

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Budget $409.688 Actual $424.968 Variance $15.280m favourable

The favourable variance is mainly due to: $0.971 million grants in kind revenue ( offset by unfavourable grants in kind expense); $0.689 million higher assessment charges to water authorities and State Revenue Office supplementary

valuations; $0.183 million park reinstatement revenue; $0.209 million legal cost recoveries; $0.125 million sustainability salary recoveries from Melbourne Water; $0.218 million recyclable material sales; and $0.810 million other recoveries for project across Council.

This favourable variance is due to higher investment income as a result of cash holdings being higher than budget.

This unfavourable variance is due mainly to lower than budgeted return from subsidiaries.

3.8 Sales & Recoveries (includes proceeds from asset sales) 94.4% Variance $3.291m Fav

3.9 Finance Income 254.4% Variance $1.659m Fav

3.10 Intercompany Revenue -2.3% Variance ($0.285m) Unfav

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YTD Expense Summary

$ Thousands Period: Jun-16

AnnualBudget Budget Actual Variance

EXPENDITURE

139,429 Ref 4.1 Employee costs 139,429 143,292 (3,863)149,900 Ref 4.2 Materials & Services 149,900 149,311 58910,701 Ref 4.3 Finance & Insurance Costs 10,701 9,782 91959,749 Ref 4.4 Depreciation & Amortisation 59,749 58,785 96412,205 Ref 4.5 Maintenance Costs 12,205 11,040 1,16512,533 Ref 4.6 Grants & Contributions 12,533 12,893 (360)1,287 Ref 4.7 Government Taxes & Levies 1,287 1,709 (422)

385,806 Total Expenditure 385,804 386,812 (1,008)

Year to Date

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

Employee costs Materials &Services

Finance &Insurance Costs

Depreciation &Amortisation

MaintenanceCosts

Grants &Contributions

GovernmentTaxes & Levies

Actual Budget

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Analysis of Expense Variances Budget $385.804m Actual $386.812m Variance $1.008m unfavourable

Employee costs are unfavourable largely due to work being done in-house and lower than budgeted turnover of staff during the course of the year. This is partly offset by savings in other categories.

Materials and services are made up of a number of different cost categories. Major variances between actual and budget have occurred in the following categories:

Professional services favourable $2.191 million; Utilities favourable $0.850 million; Administrative expenses favourable $0.446million; Plant and equipment favourable $0.276 million; Contractors and Intercompany Contractors unfavourable $4.838 million.

The main variances in each category are listed below.

Professional Services (favourable $2.191 million)

This favourable variance is due mainly to: $0.595 million lower arts project costs. Of this favourable variance, $0.562 million relates to Arts

House and reflects lower artist fees to offset unfavourable arts grants revenue; $0.508 million consultancy expenditure in sustainability projects; $0.423 million engineering asset management and waste management consultancy; $0.215 million costs in relation to various events including Melbourne Spring Fashion Week; $0.285 million Business and Tourism related projects, including Melbourne Visitor Shuttle promotion,

and City Yield; and $0.126 million consultancy costs in relation to social investment projects.

Utilities (favourable $0.850 million)

This favourable variance is due mainly to $0.682 million savings in public lighting as a result of lower electricity cost increase and energy initiatives and $0.268 million lower telecommunication costs.

Administrative Expense (favourable $0.446 million)

This favourable variance is due mainly to: $0.207 million lower marketing campaigns and event advertising costs; $0.276 million training programs; $0.185 million court filing fees and Bylaw search fees related with lower parking fines revenue; and $0.116 million travel costs.

The above favourable variance is partly offset by:

$0.196 million payment of rent increase CAE library(including back payment); and $0.137 million printing cost mainly due to unplanned increases to number of print devices.

Plant and Equipment (favourable $0.276 million)

This favourable variance is due to IT related maintenance and support costs.

4.1 Employee Costs -2.8% Variance ($3.863m) Unfav

4.2 Materials & Services 0.4% Variance $0.589m Fav

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Analysis of Expense Variances Budget $385.804m Actual $386.812m Variance $1.008m unfavourable

Contractors and Intercompany Contractors (unfavourable $4.838 million)

This unfavourable variance is due mainly to: Efficiency savings budgeted in contractors realised in other expenditure categories; and Agency costs mainly used for backfilling vacant positions.

The above unfavourable variances are partially offset by:

$0.337 million intercompany civil infrastructure services contract; $0.685 million parks and waterway intercompany service contracts; $0.393 million council property maintenance and cleaning costs; and $0.715 million aged care contractors as a result of planned Activity Group contract ceased and coming

in house.

The favourable variance is due mainly to lower provision for PINs doubtful debts as a result of lower than budgeted net PINs revenue and improving recovery rates. The favourable variance is partially offset by unbudgeted interest costs ($0.151 million) and higher insurance cost ($0.202 million).

The favourable variance is due to timing of capitalisation of projects.

This favourable variance is due to Street Lighting and other maintenance works.

This unfavourable variance is due to:

$0.971 million grants in kind expense, which is fully offset by favourable grants in kind revenue; and

$0.142 million events partnership program funding.

The above unfavourable variances are partially offset by:

$0.314 million social enterprise and precinct program; and

$0.208 million due to timing of Resilient Cities grant.

This unfavourable variance is due to unbudgeted land tax for the Munro site.

4.3 Finance and Insurance 8.6% Variance $0.919m Fav

4.4 Depreciation 1.6% Variance $0.964m Fav

4.5 Maintenance 9.5% Variance $1.165m Fav

4.6 Grants & Contributions -2.9% Variance ($0.360m) Unfav

4.7 Government Taxes & Levies -32.7% Variance ($0.422m) Unfav

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$ Thousands Period: Jun-16

2011-12 Council Works Area Full YearActual Budget Actual Variance Budget

Maintenance1,584 Capital Grants 1,800 1,113 687 round8,768 Maintenance 10,405 9,925 480 10,405

10,352 Total Maintenance 12,205 11,038 1,167 10,405

Capital WorksExpansion 10,848 8,212 2,637Upgrade 4,524 1,171 3,353

55,466 New Works 46,773 28,174 18,599 30,78448,947 Renewal 39,646 38,184 1,461

104,413 Total Capital Expenditure 101,791 75,741 26,050 30,784

114,766 Total Council Works Program 113,996 86,779 27,217 41,189

YTD Council Works Program Summary

Year to Date

$12.2m

$10.8m

$4.5m

$46.8m

$40m

$11.0m

$8.2m

$1.2m

$28.2m

$38.2m

Maintenance

Expansion

Upgrade

New Works

Renewal

YTD Actual YTD Budget

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Investment Portfolio Performance 2015-2016 (as at 30 June 2016)

The Investment Portfolio returned $19.989 million for the year to date, above the budgeted $18.860 million. The portfolio returned a yield of 5.53%.

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Supplementary Valuations

Supplementary valuations are undertaken for a variety of reasons and these are prescribed in the Valuation of Land Act 1960 (VLA). In February 2013, Council resolved to authorise that future supplementary valuation returns be forwarded to the Chief Executive Officer and subsequently provide a quarterly report to Council.

In the April to June 2016 quarter, there were two supplementary valuation returns; the totals of these returns are as follows:

Date NAV Change Total Rate

Change New Rates Exemptions Objections

19 May 2016 $8,066,604 ($174,327.99) $46,024.34 ($79,093.81) ($141,258.52)

29 June 2016 ($2,384,640) ($211,003.94) ($211,003.94)

Total $5,681,964 ($385,332) $46,024 ($79,094) ($352,262)

The 2015-16 supplementary (new) rates budget is $3.61 million. The year to date actual for new rates is $3.69

million and the total rateable NAV is currently $5,517 million.

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Ref # Address Category

Previous NAV

Current NAV

NAV Change

Rate Change

Comments

19 May 2016

5 351-355 King Street WEST MELBOURNE VIC 3003

Exempt $141,000 $141,000 $0.00 ($1,703.62) Property is exempt as it is occupied by charitable organisation.

3 Part Level 1 Union House Building 130 230 Grattan Street PARKVILLE VIC 3010

Exempt $54,300 $54,300 $0.00 ($2,447.93) Property is exempt as it is occupied by charitable organisation.

1 Levels 2-3 & Part Level 4 236 Bourke Street MELBOURNE VIC 3000

Exempt $1,571,100 $1,571,100 $0.00 ($74,705.81) Property is exempt as it is occupied by charitable organisation.

10 Shop 2, Ground 546 Collins Street MELBOURNE VIC 3000

Objection $69,000 $30,150 ($38,850) ($1,847.32) Valuer General acceptance of recommended valuation

12 200-222 Queen Street MELBOURNE VIC 3000

Objection $8,421,500 $7,584,400 ($837,100) ($39,804.10) Valuer General acceptance of recommended valuation

13 Southgate 16-60 City Road SOUTHBANK VIC 3006

Objection $42,469,846 $41,414,500 ($1,055,346) ($98,623.14) Arithmetic error

32 Lacrosse Docklands 673-683 La Trobe Street DOCKLANDS VIC 3008

Supplementary $463,750 $6,367,950 $5,904,200 $29,078.80 Construction of multi-unit development, 186 residential lots, 11 retail & one Hotel Lot

18 315-321 La Trobe Street MELBOURNE VIC 3000

Supplementary $183,500 $2,852,100 $2,668,600 $12,761.37 Construction of multi-unit development, 149 Residential units and one retail lot.

Balance of 148 assessments $2,999,100 $1,585,000 $1,425,100 $2,963.76

May Total $56,373,096 $61,600,500 $8,066,604 ($174,327.99)

29 June 2016

Port of Melbourne Objection $67,486,750 $65,102,110 ($2,384,640) ($211,003.94) POMC Consent Order

June Total $67,486,750 $65,102,110 ($2,384,640) ($211,003.94)

Total for fourth quarter 2015-16 $123,859,846  $126,702,610  $5,681,964  ($385,332) 

Attachment 3 Agenda item 6.7

Future Melbourne Committee 16 August 2016

Overview of Supplementary Valuation Returns Page 20 of 20

Cash Development Contributions

Date Amount

16/07/2015 276-282 City Rd, 33-37 Clarke St SOUTHBANK $142,000

30/07/2015 20 Chapman Street NORTH MELBOURNE $105,000

3/07/2015 1-5 Argyle Place East CARLTON $40,500

15/10/2015 392-398 Victoria Street NORTH MELBOURNE $162,500

28/10/2015 252-254 City Road SOUTHBANK $485,000

14/10/2015 159-161 Abbotsford Street NORTH MELBOURNE $48,000

19/11/2015 73-77 Cardigan Street CARLTON $210,000

19/11/2015 30 Rankins Road KENSINGTON $65,000

17/12/2015 33-39 Racecourse Road NORTH MELBOURNE $230,500

15/12/2015 85-87 Lambeth Street KENSINGTON $90,000

21 & 22/01/2016 76-78 Hardiman Street KENSINGTON $36,000

18/12/2015 228 Dryburgh Street NORTH MELBOURNE $85,000

11/12/2015 496-504 Elizabeth Street MELBOURNE $1,000,000

16/12/2015 137-141 Bourke Street MELBOURNE $312,500

5/11/2015 138-150 Rathdowne Street CARLTON $175,000

21/12/2015 159-167 Cardigan Street CARLTON $120,000

7/01/2016 108-116 Ireland Street WEST MELBOURNE $110,000

20/01/2016 6/617 Lonsdale Street MELBOURNE $603,000

11/02/2016 235-237 Faraday Street CARLTON $20,440

29/03/2016 366-384 Queensberry Street NORTH MELBOURNE $725,000

1/04/2016 263-267 City Road SOUTHBANK $1,562,750

15/03/2016 57-61 City Road SOUTHBANK $640,000

20/04/2016 423-435 Spencer Street WEST MELBOURNE $200,000

11/04/2016 556-560 Flinders Street MELBOURNE $200,000

14/04/2016 91-93 & 95 Flemington Road NORTH MELBOURNE $375,000

11/04/2016 593-611 Lt Lonsdale Street MELBOURNE $785,000

21/04/2016 85 Flemington Road NORTH MELBOURNE $425,000

29/04/2016 17-19 Kipling Street NORTH MELBOURNE $36,000

20/04/2016 5-9 Lloyd Street WEST MELBOURNE $87,200

6/05/2016 35 Barnett Street KENSINGTON $71,250

10/05/2016 1-3 Waterloo Road CARLTON $52,500

2/06/2016 546-554 Victoria Parade EAST MELBOURNE $115,000

2/06/2016 155 Royal Parade PARKVILLE $300,000

Total $9,615,140

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