02 Financial Performance Report - Aug 2021

GENERAL COMMITTEE MEETING AGENDA                                                                                                                       13 SEPTEMBER 2021


 Category                                                                                                                                 Comments
 Investment Return                                                                                                                           Intent: Ensure appropriate return
                                                                                                                                              on investment yield for cash at
                                                                                                                                              bank.
                                                                                                                                             Target: 0.25% above current
                                                                                                                                              Bloomberg commonwealth 10
                                                                                                                                              year bond rate yield (0.01%)
                                                                                                                                             Result: 0.3%
                                                                                                                                             Comment: Regardless of the
                                                                                                                                              current levels of low long term
                                                                                                                                              bond and interest rates (due to
                                                                                                                                              current economic conditions),
                                                                                                                                              Council’s investment return still
                                                                                                                                              remains above target


 Rates in Arrears                                                                                                                            Intent: Ensuring that the amount
                                                                                                                                              of    unpaid    rates     remains
                                              12.0%
     Percentage of Annual Rates in Arrears




                                                                                                                                              sustainable    and    does    not
                                                      9.6%                                      9.5%                                          negatively impact cash flows
                                              10.0%
                                                                                                                                             Target: 5% industry benchmark
                                               8.0%          7.1%                                      7.4%
                                                                    6.0% 5.8% 5.7%                            6.2%                           Result: 4.6%
                                                                                                                     5.7%
                                               6.0%                                      5.0%                               5.2%
                                                                                                                                   4.6%
                                                                                                                                             Comment: Rates arrears are in
                                                                                                                                              line with performance for the
                                               4.0%
                                                                                                                                              previous 6 and 12 monthly cycles.
                                               2.0%

                                               0.0%
                                                      Sep    Oct    Nov   Dec    Jan     Feb    Mar    Apr    May    Jun    Jul    Aug

                                                                                Actual           Target



Previous Council Consideration
Nil.
Finance
As above.
Risks & Opportunities
Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.
Departments/Sections Consulted:

 X                                           Chief Executive Officer              X      Community Services                                      X   Corporate Services
                                             Executive Officer                           Director                                                X   Director
                                             Executive Support                           Community Development                                   X   Financial Services
                                                                                         Community Facilities                                        ICT
                                                                                         Libraries & Galleries                                       Procurement & Fleet
                                                                                         Local Laws                                                  Property
                                                                                         Waste & Environmental Health                                Revenue Services