2022-10-24 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       24 OCTOBER 2022


Council’s performance against key measures of financial sustainability has been calculated as at
September 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%           44.8%            On Track
 Net Financial Liabilities Ratio       <60%             -67.2%          -277.0%           On Track
 Cash Cover Ratio                    3 months          8 months       15.1 months         On Track
 Asset Sustainability Ratio            > 90%            188.0%           44.0%            On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 24 October 2022 outlining September 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 25.0%)
Council has received 42% ($50.1 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                    Comments
 Rates and Levies     $41.5 million (50.3%)      •   Waste utility charges $166k above YTD budget (50.9%
                      of the annual budget of        or $7.3 million of $14.3 million annual budget earned)
                      $82.5 million has been     •   General rate (net of discounts) $147k above YTD
                      earned                         budget (50.2% or $31.4 million of $62.6 million annual
                                                     budget earned)
 Fees and             $2.5 million (28.3%) of    •   Property and Facility fees $24k above YTD budget
 Charges              the $8.9 million annual        (28.2% or $145k of $514k annual budget earned)
                      budget     has    been     •   Local Laws fees $36k below YTD budget (38.5% or
                      earned                         $651k of $1.7 million annual budget earned)
                                                 •   Building & Plumbing fees $43k below YTD budget
                                                     (23.2% or $509k of $2.2 million annual budget earned)
                                                 •   Development assessment fees $67k below YTD
                                                     budget (19.0% or $531k of $2.8 million annual budget
                                                     earned)
 Sale of Goods        $3.5 million (27.2%) of    •   Waste disposal fees $246k above YTD budget
 and Services         the   $12.3      million       (26.65% or $1.1 million of $4.2 million annual budget
                      annual budget has              earned)
                      been received              •   Holiday Park sales $169k above YTD budget (29.2%
                                                     or $1 million of $3.5 million annual budget earned). Any
                                                     revenue upside will be generally offset by a
                                                     corresponding increase in associated operating costs
                                                 •   Community Facility fees $87k above YTD budget
                                                     (26.7% or $760k of $2.8 million annual budget earned)
                                                 •   Waste management sale of recoverable materials
                                                     $29k above YTD budget (24.31% or $363k of $1.5
                                                     million annual budget earned)

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