2020-01-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         13 JANUARY 2020


YTD Measures of Financial Sustainability
                                  Target           Target           Current        Actual          Status
                                  Value             Date            Budget          YTD
Operating Surplus Ratio           0-10%       30 June 2020           0.0%           4.7%          On Track
Net Financial Liabilities Ratio   <60%             Ongoing           -9.4%         -18.8%       Above Target
Cash Cover Ratio                  3 months         Ongoing        6.6 months     8.4 months     Above Target
Asset Sustainability Ratio        > 90%       30 June 2020           108%           39.5%         On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 13 January 2020 outlining December 2019 year to date financial performance
against budget, including key financial sustainability indicators.

REPORT
Operating Revenue (YTD Benchmark 50%)
Council has received 49% ($49.4 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

Category              Summary                          Comments
Rates and Levies      $34.6 million (50%) of the           General rates $55k above YTD budget (50% or
                      annual budget of $68.7                 $25.6 million of $51.0 million budget earned)
                      million has been earned              Waste utility charges $128k above YTD budget
                                                             (51% or $6.5 million of $12.8 million budget
                                                             earned)
Fees and              $4.3 million (64%) of the $6.7       Development related fees $423k above YTD
Charges               million annual budget has              budget (76% or $1.2 million of $1.6 million
                      been earned                            budget earned)
                                                           Community land use permits $40k above YTD
                                                             budget (68% or $279k of $410k budget
                                                             earned)
                                                           Cemetery fees $38k above YTD budget (67%
                                                             or $153k of $229k budget earned)
                                                           Plumbing application fees $35k above YTD
                                                             budget (54% or $486k of $971k budget
                                                             earned)
                                                           Building application fees $25k below YTD
                                                             budget (47% of $340k of $730k budget spent)
Sale of Goods         $4.7 million (47%) of the            Noosa Leisure Centre $47k above YTD budget
and Services          $10.1 million budget has               (55% or $318k of $575k budget earned)
                      been received                        Noosa River Holiday Park sales $36k above
                                                             YTD budget (52% or $1.1 million of $2.2 million
                                                             budget earned)
                                                           Noosa Aquatic Centre admission and other
                                                             revenue $35k below YTD budget (42% or
                                                             $634k of $1.5 million budget earned) –
                                                             reflecting the actual renovation closure period
                                                             being 2 weeks longer than budgeted
                                                           Waste disposal fees $160k below YTD budget
                                                             (46% or $1.7 million of $3.9 million budget
                                                             earned)
Interest              $850k (60%) of the $1.4              Interest on overdue rates and charges $56k
                      million annual budget has

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