Financial Performance Report – October 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                       13 NOVEMBER 2023


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;
      •   An extended closure of Council facilities impacting operational revenues;
      •   A prolonged IT system failure affecting Council’s ability to deliver services or issue rates
          notices;
      •   Economic conditions affecting ratepayers’ ability to pay rates;
      •   Market driven increases in construction and operational costs significantly above estimates;
      •   Labour and material shortages and delays.


Consultation
External Consultation - Community & Stakeholder
Nil