2021-05-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                17 MAY 2021



 YTD Measures of Financial Sustainability
                                    Target       Current      Actual YTD
                                                 Budget
 Operating Surplus Ratio            0-10%         -0.9%          16.9%           On Track
 Net Financial Liabilities Ratio    < 60%         -8.1%          -35.0%          On Track
 Cash Cover Ratio                  3 months    7.7 months     11.6 months      Above Target
 Asset Sustainability Ratio         > 90%        100.1%          66.8%           On Track


RECOMMENDATION
That Council note the report by the Director Corporate Services to the General Committee Meeting
dated 17 May 2021 outlining April 2021 year to date financial performance against budget, including
performance against key financial sustainability indicators.



REPORT
Operating Revenue (YTD Benchmark 83.3%)
Council has received 95% ($95.9 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         Total rates and levies earned are in line with
                       annual budget of $69.4               YTD budget.
                       million has been earned             Tourism and Economic Levy $71k below budget
                                                            (97% or $2.8 million of $2.9 million budget
                                                            earned) - offset by all other rates and charges
                                                            above YTD budget
 Fees and              $6.3 million (89%) of the $7.0      Lions Park holiday parking $98k above YTD
 Charges               million annual budget has            budget (247.0% or $165k of $67k budget
                       been earned                          earned)
                                                           Building application fees $94k above YTD
                                                            budget (94% or $721k of $767k budget earned)
                                                           Waste collection fees for temporary services
                                                            and infringements $92k above YTD budget
                                                            (112% or $199k of $177k budget earned)
                                                           Local Laws infringement revenue $82k above
                                                            YTD budget (94% or $1.38 million of $1.47
                                                            million budget earned)
                                                           Noosa Community Support fees $98k below
                                                            YTD budget (49.7% of $144k of $291k budget
                                                            earned) – offset by lower costs
 Sale of Goods         $9.6 million (96%) of the $9.9      Holiday Park sales $366k above YTD budget
 and Services          million budget has been              (103% or $3.3 million of $3.2 million budget
                       received                             earned) – Any positive revenue variances that
                                                            hold through the financial year will be offset in
                                                            part by additional variable operating costs
                                                            including park commissions
                                                           Community Facilities (NAC, NLC and The J)
                                                            $216k above YTD budget (95% or $2.1 million
                                                            of $2.24 million budget earned) – Any positive
                                                            revenue variances that hold through the


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