SHIRE OF GOOMALLING
NOTES TO AND FORMING PART OF THE BUDGET
FOR THE YEAR ENDED 30 JUNE 2018
The council will continue to develop major land transactions during the year. The Shire of Goomalling has undertaken rural residential subdivisions in Salmon Gum Way and Grange Street Goomalling. The Shire will conduct either auction or tender process for the sale of lots for Salmon Gum Way. In relation to lots in Grange Street, the sale will be by tender process at market valuations. The proceeds from the sale of the two rural subdivisions will be applied towards the repayment of loans raised to finance the development and thereafter any surplus funds remaining will be held in the Municipal Fund Account. A business plan was prepared for the town rural residential subdivisions in accordance with section 3.59 of the Local Government Act 1995.
There no current year transactions in this budget.
| Expected future cash flows | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/21 | Total |
|---|
| | | | | | |
|---|
| Cash outflows | | | | | | |
|---|
| Interest on Borrowing | (57,341) | (45,439) | (32,610) | (18,780) | (3,870) | (158,040) |
|---|
| (57,341) | (45,439) | (32,610) | (18,780) | (3,870) | (158,040) |
|---|
| Cash Inflows | | | | | | |
|---|
| *Sale of 3 blocks Grange St | 250,000 | 0 | 0 | 0 | 0 | 250,000 |
|---|
| 250,000 | 0 | 0 | 0 | 0 | 250,000 |
|---|
| Net cash flows | 192,659 | (45,439) | (32,610) | (18,780) | (3,870) | 91,960 |
|---|
It is not anticipated any trading undertakings or major trading undertakings will occur in 2017/18.
It is not anticipated the Shire of Goomalling will be party to any joint venture arrangements during 2017/18.