2020-07-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     13 JULY 2020


Figure 1: Actual Performance Compared to Budget

 $120
                                              YTD Budget ($m)
                       $99.8                  YTD Actual ($m)      $99.8           $98.0
 $100                              $98.3



   $80

   $60

   $40

   $20

     $-
                    Operating Revenue                           Operating Expenditure

Council’s performance against key measures of financial sustainability have been calculated for
the interim 2019/20 full financial year. These indicators enable the reader to assess Council’s
success in managing its budget, cash and debt as well as undertaking sustainable asset
management. The table below contains a snapshot of a number of key measures, with full detail
included in the report.
 Measures of Financial Sustainability
                                     Target          Target            Current              Actual        30 June
                                     Value            Date             Budget               Result         Status
 Operating Surplus Ratio             0-10%       30 June 2020              0.0%              0.4%         On Target
 Net Financial Liabilities Ratio     <60%            Ongoing               -9.4%            -17.8%        On Target
 Cash Cover Ratio                  3 months          Ongoing         6.6 months            8.5 months     On Target
 Asset Sustainability Ratio          > 90%       30 June 2020              129%              93.7%        On Track

RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 13 July 2020 outlining interim 2019/20 full year financial performance against budget,
including key financial sustainability indicators.

REPORT
Operating Revenue (Annual Benchmark 100%)
Council has received 98% ($98.3 million) of its operating revenue budget ($99.8 million).
Commentary on each revenue category is provided below.

 Category              Summary                            Comments
 Rates and Levies      $69.0 million (100%) of the             General rates $134k above annual budget
                       annual budget of $68.7                   (100% or $51.1 million of $51.0 million budget
                       million has been earned                  earned)
                                                               Waste utility charges $63k above annual budget
                                                                (100% or $12.8 million of $12.8 million budget
                                                                earned) – a positive variance early in the
                                                                financial year now has reduced back to align
                                                                with annual budget due to businesses reducing
                                                                their waste collection services due to the
                                                                COVID-19 pandemic

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