2020-04-30 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                         30 APRIL 2020


Figure 1: Actual Performance Compared to Budget

 $100                                         YTD Budget ($m)
                       $90.4       $91.1
   $90                                        YTD Actual ($m)
   $80                                                             $72.0       $70.7
   $70
   $60
   $50
   $40
   $30
   $20
   $10
     $-
                     Operating Revenue                          Operating Expenditure

YTD performance against Council’s key measures of financial sustainability have been calculated
as at March 2020. 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.

 YTD Measures of Financial Sustainability
                                   Target          Target            Current           Actual      30 June
                                   Value            Date             Budget             YTD         Status
 Operating Surplus Ratio           0-10%       30 June 2020            0.0%            22.4%        Watch
 Net Financial Liabilities Ratio   <60%           Ongoing             -9.4%            -40.1%      On Target
 Cash Cover Ratio                  3 months       Ongoing          6.6 months     11.5 months      On Target
 Asset Sustainability Ratio        > 90%       30 June 2020           129%             53.9%       On Track


RECOMMENDATION
That Council note the report by the Director Corporate Services to the Ordinary Meeting dated 30
April 2020 outlining March 2020 year to date financial performance against budget, including key
financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 75.0%)
Council has received 91% ($91.1 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $69.2 million (101%) of the         General rates $138k above YTD budget (100% or
                       annual budget of $68.7 million       $51.1 million of $51.0 million budget earned)
                       has been earned                     Waste utility charges $242k above YTD budget
                                                            (102% or $13.1 million of $12.8 million budget
                                                            earned) – this positive variance will reduce back
                                                            to budget in April 2020 as businesses reduce
                                                            waste collection services due to the COVID-19
                                                            pandemic



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