2022-12-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                    12 DECEMBER 2022



Council’s performance against key measures of financial sustainability has been calculated as at
November 2022. These statutory 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
                                      Target                         Actual YTD           Status
                                                       Budget
 Operating Surplus Ratio              0-10%             -0.6%           16.8%            On Track
 Net Financial Liabilities Ratio       <60%             1.0%            -52.9%           On Track
 Cash Cover Ratio                   3 months         6.7 months      12.7 months         On Track
 Asset Sustainability Ratio           > 90%            188.0%           78.1%            On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 12 December 2022 outlining November 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 41.7%)
Council has received 48.0% ($56.8 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                   Comments
 Rates and Levies     $41.6 million (50.4%)     •   Waste utility charges $163.9k above YTD budget
                      of the annual budget          (50.9% or $7.3 million of $14.3 million annual budget
                      of $82.5 million has          earned)
                      been earned               •   General rate (net of discounts) $202.7k above YTD
                                                    budget (50.2% or $31.4 million of $62.6 million annual
                                                    budget earned)
 Fees and             $4.1 million (46.9%) of   •   Property and Facility fees $108.1k above YTD budget
 Charges              the $8.9 million annual       (56.6% or $290.5k of $514k annual budget earned)
                      budget has been           •   Building & Plumbing fees $90.2k above YTD budget
                      earned                        (43.5% or $953.9k of $2.2 million annual budget
                                                    earned)
                                                •   Development assessment fees $53.7k above YTD
                                                    budget (37.1% or $1.0 million of $2.8 million annual
                                                    budget earned)
                                                •   Revenue Services $38.0k below YTD budget (38.2%
                                                    or $146.6k of $383.5k annual budget earned)
 Sale of Goods        $5.7 million (46.0%) of   •   Waste disposal fees $266.0k above YTD budget
 and Services         the $12.3 million             (45.6% or $1.9 million of $4.2 million annual budget
                      annual budget has             earned)
                      been received             •   Holiday Park revenue $239.7k above YTD budget
                                                    (48.75% or $1.7 million of $3.5 million annual budget
                                                    earned). Any revenue upside will be generally offset by
                                                    a corresponding increase in associated operating
                                                    costs


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