2019-12-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       16 DECEMBER 2019


YTD performance against Council’s key measures of financial sustainability have been calculated
as at November 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%           18.0%          On Track
Net Financial Liabilities Ratio   <60%              Ongoing          -5.7%          -22.7%       Above Target
Cash Cover Ratio                  3 months          Ongoing       5.5 months      9.3 months     Above Target
Asset Sustainability Ratio        > 90%       30 June 2020           129%           37.9%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 16 December 2019 outlining November 2019 year to date financial performance
against budget, including key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 42%)
Council has received 47% ($46.6 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 $52k above YTD budget (50% or
                       annual budget of $68.7              $25.6 million of $51.0 million budget earned)
                       million has been earned           Waste utility charges $127k above YTD budget
                                                           (51% or $6.5 million of $12.7 million budget
                                                           earned)
 Fees and              $3.4 million (52%) of the         Plumbing application fees $52k above YTD budget
 Charges               $6.7 million annual                 (49% or $472k of $971k budget earned)
                       budget has been earned            Community land use permits $50k above YTD
                                                           budget (66% or $271k of $410k budget earned)
                                                         Cemetery fees $42k above YTD budget (60% or
                                                           $138k of $229k budget earned)
                                                         Development related fees $32k above YTD budget
                                                           (43% or $696k of $1.6 million budget earned)
                                                         Local laws fees $21k above YTD budget (63% or
                                                           $887k of $1.4 million budget earned)
 Sale of Goods         $3.8 million (38%) of the         Noosa River Holiday Park sales $63k above YTD
 and Services          $10.1 million budget has            budget (42% or $920k of $2.2 million budget
                       been received                       earned).
                                                         Noosa Leisure Centre $45k above YTD budget
                                                           (49% or $283k of $575k budget earned).
                                                         Noosa Aquatic Centre admission and other
                                                           revenue $58k below YTD budget (32% or $484k of
                                                           $1.5 million budget earned) – reflecting the actual
                                                           closure period being 2 weeks longer than
                                                           budgeted.

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