Financial Performance Report – October 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                13 NOVEMBER 2023


Category                    Comments
                                 serviced     by     operating
                                 revenues. A ratio below zero
                                 implies that liabilities are
                                 less than cash (and other
                                 current assets) and there is
                                 adequate            borrowing
                                 capacity available if needed.
                               • Target: less than 60%
                               • Result: -49.6
                               • Comment: Council has low
                                 debt levels and strong cash
                                 holdings. The July rates
                                 revenue also inflates the
                                 YTD actual outcome.
Investment Return              • Intent: Ensure appropriate
                                 return on investment yield
                                 for cash at bank.
                               • Target: 0.25%           above
                                 current            Bloomberg
                                 commonwealth          10-year
                                 bond rate yield (3.99%)
                               • Result: 5.01%
                               • Comment: With bond at
                                 higher levels, Council has
                                 invested surplus cash in
                                 higher yielding term deposits
                                 to                  maximise
                                 returns.             Council’s
                                 investment returns remain
                                 above target.
Rates in Arrears               • Intent: Ensuring that the
                                 amount of unpaid rates
                                 remains sustainable and
                                 does not negatively impact
                                 cash flows
                               • Target: 5%            industry
                                 benchmark
                               • Result: 6.7%
                               • Comment: Rates arrears
                                 are in line with performance
                                 for the previous 6 and 12
                                 monthly cycles.