$1.8 Million Dollars Over Budget

16 Aug

According to the Finance and Policy agenda Grants and Subsidies were $1,848,337 over budget (page 12).  I do realise that page 8 claims it is $37,923 but what is the $6.3M in expenditure about?

Am I reading it wrong? Which councillors will question it at the meeting?  I might have to go to the meeting for the answer to that alone!

I can see there is some reserve account fiddling but does it explain anything?  Not to me it doesn’t.  I wish ICC finances made more sense.  Did ICC make a resolution to spend $6.3 M in grants and that $1.7 M be funded from reserves because that is what it looks like to me.  Anyone got alternative information?

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