2019-11-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      18 NOVEMBER 2019


YTD performance against Council’s key measures of financial sustainability have been calculated
as at October 2019. 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          Status
                                   Value             Date            Budget          YTD
 Operating Surplus Ratio           0-10%       30 June 2020           0.0%           30.2%         On Track
 Net Financial Liabilities Ratio   <60%             Ongoing           -5.7%         -29.2%       Above Target
 Cash Cover Ratio                  3 months         Ongoing        5.5 months     10.0 months    Above Target
 Asset Sustainability Ratio        > 90%       30 June 2020           129%           26.8%         On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 18 November 2019 outlining October 2019 year to date financial performance against
budget, including key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 33%)
Council has received 45% ($44.7 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $34.6 million (50%) of the            General rates $43k above YTD budget (50% or
                       annual budget of $68.7                 $25.6 million of $51.0 million budget earned)
                       million has been earned               Waste utility charges $125k above YTD budget
                                                              (51% or $6.5 million of $12.8 million budget
                                                              earned)
 Fees and              $2.9 million (44%) of the $6.7        Development related fees $52k above YTD
 Charges               million annual budget has              budget (36% or $583k of $1.6 million budget
                       been earned                            earned)
                                                             Plumbing application fees $65k above YTD
                                                              budget (43% or $420k of $971k budget earned)
                                                             Community land use permits $31k above YTD
                                                              budget (47% or $193k of $410k budget earned)
                                                             Local laws fees $23k above YTD budget (58%
                                                              or $813k of $1.4 million budget earned)
 Sale of Goods         $3.0 million (30%) of the             Noosa Leisure Centre $39k above YTD budget
 and Services          $10.1 million budget has               (40% or $229k of $575k budget earned).
                       been received                         Noosa River Holiday Park site fees $33k above
                                                              YTD budget (29% or $898k of $$3.1 million
                                                              budget earned).
                                                             Noosa Aquatic Centre admission and other
                                                              revenue $64k below YTD budget (20% or $305k
                                                              of $1.5 million budget earned) – reflecting the
                                                              actual closure period being 2 weeks longer than
                                                              budgeted.




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