2021-09-13 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       13 SEPTEMBER 2021


Council’s performance against key measures of financial sustainability have been calculated as at
August 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%           -0.6%           60.9%          On Track
 Net Financial Liabilities Ratio    <60%            -8.0%          -119.9%         On Track
 Cash Cover Ratio                  3 months    7.3 months        12.8 months       On Track
 Asset Sustainability Ratio         > 90%           121.9%           6.5%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 13 September 2021 outlining August 2021 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 41% ($44.0 million) of its operating revenue budget ($107.2 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $37.5 million (50%) of the             Waste utility charges $239k above YTD budget
                       annual budget of $74.6                  (52% or $6.7 million of $12.9 million budget
                       million has been earned                 earned)
                                                              All other rates and charges in line with YTD
                                                               budget
 Fees and              $2.4 million (33%) of the $7.2         Development assessment fees $329k above
 Charges               million annual budget has               YTD budget (33% or $606k of $1.8 million
                       been earned                             budget earned)
                                                              Plumbing application fees $94k above YTD
                                                               budget (31% or $323k of $1.0 million budget
                                                               earned)
                                                              Building application fees $51k above YTD
                                                               budget (22% or $122k of $791k budget earned)
 Sale of Goods         $1.9 million (19%) of the              Waste management sale of recoverable
 and Services          $10.2 million budget has                materials $191k above YTD budget (21% or
                       been received                           $956k of $4.6 million budget earned).
                                                              Holiday Park sales $62k above YTD budget
                                                               (19% or $529k of $2.8 million budget earned) –
                                                               offset by higher operating costs
                                                              Community Facilities (NAC, NLC and The J)
                                                               $91k above YTD budget (16% or $414k of $2.6
                                                               million budget earned) – offset by higher
                                                               operating costs




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