2021-04-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                              12 APRIL 2021


Council’s performance against key measures of financial sustainability have been calculated as at
31 March 2021. 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       Current      Actual YTD
                                                 Budget
 Operating Surplus Ratio            0-10%         -3.0%          22.4%           On Track
 Net Financial Liabilities Ratio    < 60%         -8.5%          -43.0%          On Track
 Cash Cover Ratio                  3 months    7.9 months     12.2 months      Above Target
 Asset Sustainability Ratio         > 90%        100.1%          62.3%           On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 12 April 2021 outlining March 2021 year to date financial performance against budget,
including performance against key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 75.0%)
Council has received 96% ($92.8 million) of its operating revenue budget ($96.9 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $69.3 million (101%) of the         Waste utility charges $844k above YTD budget
                       annual budget of $68.4               (107% or $13.2 million of $12.4 million budget
                       million has been earned              earned), due to recovery of collection services
                                                            previously impacted by the COVID-19 pandemic
                                                           General rates $115k above YTD budget (100% or
                                                            $52.2 million of $52.1 million budget earned)
 Fees and              $5.8 million (87%) of the $6.6      Development assessment fees $217k above YTD
 Charges               million annual budget has            budget (89.3 % or $1.4 million of $1.6 million
                       been earned                          budget earned) – offset by additional costs
                                                           Building application fees $169k above YTD
                                                            budget (99% or $658k of $667k budget earned)
                                                           Waste Management fees $93k above YTD
                                                            budget (106% or $188k of $177k budget earned)
 Sale of Goods         $8.5 million (117%) of the          Holiday Park sales $1.65 million above YTD
 and Services          $7.3 million budget has been         budget (175% or $2.9 million of $1.6 million
                       received                             budget earned) – Parks reopened earlier than
                                                            forecast following COVID-19 pandemic closures.
                                                            Positive revenue variances that hold through the
                                                            financial year will be offset in part by additional
                                                            variable operating costs including park
                                                            commissions
                                                           Community Facilities (NAC, NLC and The J)
                                                            $966k above YTD budget (133% or $1.93 million
                                                            of $1.45 million budget earned) – Facilities
                                                            reopened earlier than forecast following COVID-
                                                            19 pandemic closures. Positive revenue
                                                            variances that hold through the financial year will


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