2021-08-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      16 AUGUST 2021


Previous Council Consideration

The 2021/22 original budget was adopted by Council resolution on 30 June 2021 (Ref. Special
Meeting Minutes, 30 June 2021, Item 3, Page 3).

Finance
The financial sustainability ratios for asset sustainability and net financial liabilities are forecast to
meet the benchmark targets under the revised BR1 budget for 2021/22; however the operating
surplus ratio will fall below the target range.

Ratio                          Target       Original Budget        BR1
Operating Surplus             0 – 10%            0.3%             (0.6%)
Net Financial Liabilities      < 60%             (8.1%)           (4.9%)
Asset Sustainability           > 90%            107.8%            121.9%




Risks & Opportunities

Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.

Consultation

External Consultation - Community & Stakeholder

Nil.

Internal Consultation

Financial Services have been in contact with all Council branches. Directors of each department
have reviewed endorsed all submissions received. The Executive Team has also reviewed and
endorsed all submissions received.




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