Financial Performance Report – October 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                   13 NOVEMBER 2023


 A summary of the YTD operational performance of these business activities are outlined below.




Financial statements including Statement of Income & Expenditure, Statement of Financial Position
(balance sheet), and Statement of Cash Flows are included as attachments for information for
Council.

Figure 1: Actual Performance Compared to Budget




Council’s performance against key measures of financial sustainability has been calculated as at
October 2023. These statutory 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.


 YTD Measures of Financial Sustainability

                                                Current
                                 Target                       Actual YTD        Status
                                                Budget
 Operating Surplus Ratio         0-10%            -0.6%         30.3%          On Track
 Net Financial Liabilities
                                                                               On Track
 Ratio                           <60%             -9.0%         -49.6%
 Cash Cover Ratio              3 months       9.3 months     13.8 months       On Track
 Asset Sustainability Ratio      > 90%          150.5%          52.3%          On Track



RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 13 November 2023 outlining October 2023 year to date financial performance against
budget, including changes to the financial performance report with the inclusion of key financial
sustainability indicators.