2022-05-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         16 MAY 2022


   Council’s performance against key measures of financial sustainability has been calculated
   as at April 2022. 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
                                                        Current        Actual
                                       Target                                             Status
                                                        Budget          YTD
    Operating Surplus Ratio            0-10%             -0.6%          20.5%          Above Target
    Net Financial Liabilities
                                                                                       Above Target
    Ratio                               <60%            -12.7%         -44.8%
    Cash Cover Ratio                 3 months          8.8 months     13 months        Above Target
     Asset Sustainability Ratio        > 90%            130.1%          66.0%          Below Target


   RECOMMENDATION
   That Council note the report by the Financial Services Manager (Acting) to the General
   Committee Meeting dated 16 May 2022 outlining April 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 83.3%)
   Council has received 99% ($108.1 million) of its operating revenue budget ($109.6 million).
   Commentary on each revenue category is provided below.

    Category             Summary                   Comments
    Rates and Levies     $74.9 million (100.2%)       Waste utility charges $355k above YTD budget
                         of the annual budget          (101.7% or $13.5 million of $13.2 million annual
                         of $74.8 million has          budget earned)
                         been earned                  General rate (net of discounts) $103k below YTD
                                                       budget (99.9% or $56.1 million of $56.2 million
                                                       annual budget earned)
    Fees and             $7.6 million (93%) of        Development assessment fees $192k above
    Charges              the $8.2 million annual       YTD budget (89.0% or $2.1 million of $2.4 million
                         budget has been               annual budget earned)
                         earned                       Plumbing application fees $143k above YTD
                                                       budget (102.2% or $1.33 million of $1.30 million
                                                       annual budget earned)
                                                      Property and Facility fees $129k above YTD
                                                       budget (105.7% or $431k of $408k annual
                                                       budget earned)
                                                      Local Laws fees $92.9k above YTD budget
                                                       (92.9% or $1.45 million of $1.56 million annual
                                                       budget earned)
                                                      Building application fees $69k above YTD
                                                       budget (86.0% or $737k of $857k annual budget
                                                       earned)
    Sale of Goods        $10.8 million (97%) of       Holiday Park sales $608k above YTD budget
    and Services         the $11.1 million             (104.8% or $3.2 million of $3.1 million annual
                         annual budget has             budget earned) – Positive revenue variances
                         been received


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