Financial Performance Report – Jul 2024 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                       12 AUGUST 2024


Council has elected to apply National Competition Policy (NCP) reforms to its Waste Management
and Holiday Parks which provides greater transparency and assists with removing anti-competitive
conduct and ensure the best allocation of Councils limited resources. A summary of the YTD
operational performance of these business activities are outlined below.

                                       Waste Operations                     Holiday Parks
                                   Budget   Actual   Variance         Budget    Actual Variance
                                     YTD      YTD         YTD           YTD       YTD       YTD
                                      $m       $m          $m            $m        $m        $m
 Revenue                              9.1     9.5          0.4           0.3       0.4       0.1
 Expenditure                          1.8     1.8          0.0           0.3       0.3       0.0
 Net Operating Position               7.3     7.7          0.4           0.0       0.1       0.1

Financial statements including Statement of Income & Expenditure, Statement of Financial Position
(balance sheet), and Statement of Cash Flows are included as attachments as further information
for Council.

Figure 1: Actual Performance Compared to Budget




Council’s performance against key measures of financial sustainability has been calculated as at
July 2024. 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%          0.1%           77.9%       On Track
 Net Financial Liabilities Ratio              < 60%         0.7%          -91.9%       On Track
 Cash Cover Ratio                           3 months     8.9 months     10.2 months    On Track
 Asset Sustainability Ratio                   > 80%        102.7%           7.2%       On Track



RECOMMENDATION
That Council note the report by the Financial Services Manager to the General Committee
Meeting dated 12 August 2024 outlining July 2024 year to date financial performance against
budget, including changes to the financial performance report with the inclusion of key financial
sustainability indicators.