2019-10-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                        14 OCTOBER 2019


YTD performance against Council’s key measures of financial sustainability have been calculated
as at September 2019. These indicators enable the reader to assess a 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%          43.1%         On Track
 Net Financial Liabilities Ratio   <60%              Ongoing          -5.7%         -41.1%       Above Target
 Cash Cover Ratio                  3 months          Ongoing        5.5 months    11.6 months    Above Target
 Asset Sustainability Ratio        > 90%           30 June 2020       129%           17.5%         On Track


RECOMMENDATION
That Council note the report by the Director Corporate Services to the General Committee
Meeting dated 14 October 2019 outlining September 2019 year to date financial performance
against budget, including key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 25%)
Council has received 42% ($41.6 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 $38k above YTD budget (50.1%
                      annual budget of $68.7                  or $25.55 million of $25.51 million budget
                      million has been earned                 earned)
                                                            Waste utility charges $124k above YTD budget
                                                              (51% or $6.5 million of $12.7 million budget
                                                              earned)
Fees and              $2.4 million (36%) of the $6.7        Development related fees $75k above YTD
Charges               million annual budget has               budget (29% or $474k of $1.6 million budget
                      been earned                             earned)
                                                            Local laws fees $42k above YTD budget (50%
                                                              or $703k of $1.4 million budget earned)
                                                            Plumbing application fees $36k above YTD
                                                              budget (34% or $326k of $971k budget earned)
                                                            Community land use permits $26k above YTD
                                                              budget (44% or $180k of $410k budget earned)
                                                            Noosa Community Support fees $13k below
                                                              YTD budget (21% or $61k of $295k budget
                                                              earned)
                                                            Property change of ownership fees $10k below
                                                              YTD budget (19% or $36k of $185k budget
                                                              earned)
Sale of Goods         $2.2 million (21%) of the             Noosa Leisure Centre group fitness revenue and
and Services          $10.1 million budget has                venue hire $42k above YTD budget (31% or
                      been received                           $179k of $575k budget earned)


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