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2022-10-24 General Committee Meeting Agenda
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GENERAL COMMITTEE MEETING AGENDA 24 OCTOBER 2022
Category Comments
Net Financial Liabilities Ratio • Intent: Outlines the level that
net Council debt can be
serviced by operating
revenues. A ratio below zero
implies that liabilities are less
than cash (and other current
assets) and there is adequate
borrowing capacity available if
needed.
• Target: less than 60%
• Result: -96%
• Comment: Council has low
debt levels and strong cash
holdings. The July rates
revenue also inflates the YTD
actual outcome.
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 (1.80%)
• Result: 2.75%
• Comment: With bond rates
rising, Council has invested
surplus cash in higher yielding
term deposits to maximise
returns. Council’s investment
returns remain well above
target.
Rates in Arrears • Intent: Ensuring that the
amount of unpaid rates remains
sustainable and does not
negatively impact cash flows
• Target: 5% industry
benchmark
• Result: 7.1%
• Comment: Rates arrears are in
line with performance for the
previous 6 and 12 monthly
cycles.
Previous Council Consideration
Nil.
Finance
As above.
Page 108 of 113
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