2021-07-15 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                         15 JULY 2021


Figure 1: Actual Performance Compared to Budget

 $120
                                               YTD Budget ($m)
                        $101.2     $103.7
                                               YTD Actual ($m)      $102.1     $99.5
 $100

   $80

   $60

   $40

   $20

     $-
                      Operating Revenue                          Operating Expenditure

Council’s performance against key measures of financial sustainability have been calculated for the
interim 2020/21 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.

 Interim Annual Measures of Financial Sustainability
                                    Target      Current            Actual         Interim
                                                Budget             Result         Status
 Operating Surplus Ratio            0-10%        -0.9%              6.3%         On Target
 Net Financial Liabilities Ratio    < 60%        -14.5%            -27.0%        On Target
 Cash Cover Ratio                  3 months    7.7 months        10.1 months   Above Target
 Asset Sustainability Ratio         > 90%       100.1%             75.4%       Below Target


RECOMMENDATION
That Council note the report by the Manager Financial Services to the Ordinary Meeting dated 15
July 2021 outlining the interim 2020/21 full year financial performance against budget, including key
financial sustainability indicators.


REPORT
Operating Revenue (Annual Benchmark 100%)
Council has received 103% ($103.7 million) of its operating revenue budget ($101.2 million).
Commentary on each revenue category is provided below.

 Category              Summary                         Comments
 Rates and Levies      $69.3 million (100%) of the         Overall, total rates and levies earned are in line
                       annual budget of $69.3               with annual budget
                       million has been earned             Tourism and Economic Levy $81k below budget
                                                            (97% or $2.8 million of $2.9 million budget
                                                            earned) - offset by all other rates and charges
                                                            above annual budget




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