2021-04-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         12 APRIL 2021


Previous Council Consideration
The 2020/21 original budget was adopted by Council resolution on 10 July 2020 (Ref. Special
Meeting Minutes, 10 July 2020, Item 3, Page 3).
The 2020/21 budget review 1 (BR1) was adopted by Council resolution on 20 August 2020 (Ref.
Ordinary Meeting Minutes, 20 August 2020, Item 6, Page 10).
The 2020/21 budget review 2 (BR2) was adopted by Council resolution on 17 December 2020 (Ref.
Ordinary Meeting Minutes, 17 December 2020, Item 6, Page 22).

Finance
The financial sustainability ratios for asset sustainability and net financial liabilities are forecast to
meet the benchmark targets under the revised BR3 budget for 2020/21; however the operating
surplus ratio will continue to fall below the target range.

Ratio                         Target     Original Budget         BR1             BR2           BR3
Operating Surplus            0 – 10%          (1.9%)            (2.3%)          (3.0%)        (0.9%)
Net Financial Liabilities     < 60%           (11.1%)           (6.3%)          (8.5%)       (14.5%)
Asset Sustainability          > 90%           87.5%            101.5%          100.1%         96.1%




Risks & Opportunities
Risks
Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.

Consultation

External Consultation - Community & Stakeholder
Nil.

Internal Consultation
Financial Services have been in contact with all Council branches. Directors of each department
have reviewed endorsed all submissions received. The Executive Team has also reviewed and
endorsed all submissions received.


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