2020-03-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                           16 MARCH 2020


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%          29.8%          On Track
 Net Financial Liabilities Ratio   <60%            Ongoing         -9.4%          -45.9%       Above Target
 Cash Cover Ratio                  3 months        Ongoing       6.6 months    11.9 months     Above Target
 Asset Sustainability Ratio        > 90%         30 June 2020      108%           47.1%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 16 March 2020 outlining February 2020 year to date financial performance against budget,
including key financial sustainability indicators.

REPORT
Operating Revenue (YTD Benchmark 66.7%)
Council has received 90% ($89.4 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

 Category              Summary                      Comments
 Rates and Levies      $69.3 million (101%) of         General rates $138k above YTD budget (100% or
                       the annual budget of             $51.1 million of $51.0 million budget earned)
                       $68.7 million has been          Waste utility charges $329k above YTD budget
                       earned                           (103% or $13.1 million of $12.8 million budget
                                                        earned)
 Fees and              $4.9 million (74%) of the       Plumbing application fees $108k above YTD
 Charges               $6.7 million annual              budget (84% or $818k of $971k budget earned)
                       budget has been earned          Cemetery fees $64k above YTD budget (95% or
                                                        $217k of $229k budget earned)
                                                       Community land use permits $43k above YTD
                                                        budget (85% or $348k of $410k budget earned)
                                                       Building application fees $45k below YTD budget
                                                        (61% or $442k of $730k budget spent)
                                                       Development related fees $68k below YTD budget
                                                        (62% or $1.0 million of $1.6 million budget earned)
                                                        – reduced performance from January report due to
                                                        withdrawal of major development application
 Sale of Goods         $6.4 million (63%) of the       Noosa Leisure Centre $51k above YTD budget
 and Services          $10.1 million budget has         (73% or $422k of $575k budget earned)
                       been received                   Waste management disposal fees and recyclable
                                                        sales $159k below YTD budget (62% or $2.7
                                                        million of $4.3 million budget earned)
                                                       Holiday Park sales $81k below YTD budget (61%
                                                        or $1.9 million of $3.1 million budget earned) – 1
                                                        month delay in planned opening of North Shore
                                                        Campground offset by lower expenditure
                                                       Noosa Aquatic Centre admission and other
                                                        revenue $22k below YTD budget (63% or $951k of
                                                        $1.5 million budget earned)

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