01 Financial Performance Report - Jul 2023

GENERAL COMMITTEE MEETING                                                          14 AUGUST 2023


 Category                                                       Comments
                                                                     previous 6 and 12 monthly
                                                                     cycles.




Link to Corporate Plan

Theme No. 5. - Excellence
This theme focuses on customer experience, financial sustainability, innovation and technology,
levels of service, governance, our employees and volunteers, funding streams and asset
management practices.
Objective 5.2 - Continue to deliver a financially sustainable Council that has the resources now and
into the future to achieve its strategic objectives. This will be supported through the introduction of
enhanced sustainability reporting and performance indicators, as well as ESG (environment social
and governance) accounting practices as guided by statutory requirements.


Previous Council Consideration
Nil




Finance
As above

Risk & Opportunities
Council’s risk register identifies a number of risks that could impact on its ongoing financial
sustainability. In order to manage and mitigate these risks Council uses various tools which include
monthly ongoing financial reporting to identify and address emerging issues, conservative budgeting,
compliance with the Financial Sustainability Policy, regular budget reviews, effective liquidity
management to ensure sufficient fiscal flexibility, as well as adhering to the Reserves and Restricted
Cash policy which requires that Council maintains both a disaster management reserve and a
minimum 3 months cash cover to fund emergent matters.

Some examples of potential risks that may impact on Council’s operational performance, capital
program delivery, cashflow and cash reserves include:
      •   Substantial damage to or failure of Council infrastructure due to natural disaster or other
          emergent issue that may require significant unplanned investment;