2022-09-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                12 SEPTEMBER 2022


   Council’s performance against key measures of financial sustainability has been calculated
   as at August 2022. These statutory 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
                                                           Current
                                          Target                         Actual YTD           Status
                                                           Budget
     Operating Surplus Ratio               0-10%            0.1%            81.4%           On Track
     Net Financial Liabilities Ratio       <60%             -7.1%          -148.1%          On Track
     Cash Cover Ratio                    3 months         8 months       11.8 months        On Track
     Asset Sustainability Ratio            > 90%           151.6%           10.7%           On Track

   RECOMMENDATION
   That Council note the report by the Manager Financial Services (Acting) to the General
   Committee Meeting dated 12 September 2022 outlining August 2022 year to date financial
   performance against budget, including changes to the financial performance report with the
   inclusion of key financial sustainability indicators.

   REPORT
   Operating Revenue (YTD Benchmark 16.7%)
   Council has received 40% ($47.5 million) of its operating revenue budget ($118.4 million).
   Commentary on each revenue category is provided below.
    Category           Summary                   Comments
    Rates and          $41.5 million (50.3%)        Waste utility charges $127k above YTD budget
    Levies             of the annual budget of       (50.9% or $7.3 million of $14.3 million annual
                       $82.5 million has been        budget earned)
                       earned                       General rate (net of discounts) $110k above YTD
                                                     budget (50.2% or $31.4 million of $62.6 million
                                                     annual budget earned)
    Fees and           $2.0 million (22.5%) of      Property and Facility fees $33k above YTD budget
    Charges            the $8.9 million annual       (22.9% or $118k of $514k annual budget earned)
                       budget has been              Local Laws fees $53k below YTD budget (34.8% or
                       earned                        $587k of $1.7 million annual budget earned)
                                                    Building & Plumbing fees $28k below YTD budget
                                                     (17.6% or $384k of $2.2 million annual budget
                                                     earned)
                                                    Development assessment fees $28k below YTD
                                                     budget (12.5% or $348k of $2.8 million annual
                                                     budget earned)
    Sale of            $2.2 million (18.4%) of      Holiday Park sales $131k above YTD budget
    Goods and          the $12.3 million             (18.1% or $638k of $3.5 million annual budget
    Services           annual budget has             earned). Any revenue upside will be generally offset
                       been received                 by a corresponding increase in associated
                                                     operating costs
                                                    Waste disposal fees $216k above YTD budget
                                                     (19.2% or $812k of $4.2 million annual budget
                                                     earned)
                                                    Community Facility fees $57k above YTD budget
                                                     (17.8% or $507k of $2.8 million annual budget

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