2021-08-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                              16 AUGUST 2021


Council’s performance against key measures of financial sustainability have been calculated as at
July 2021. These 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
                                     Target          Current      Actual YTD
                                                     Budget
 Operating Surplus Ratio            0-10%            0.3%           82.5%          On Track
 Net Financial Liabilities Ratio    <60%            -8.1%          -150.7%         On Track
 Cash Cover Ratio                  3 months    7.4 months        10.4 months       On Track
 Asset Sustainability Ratio         > 90%           107.8%           0.8%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 16 August 2021 outlining July 2021 year to date financial performance against budget,
including performance against key financial sustainability indicators.



REPORT
Operating Revenue (YTD Benchmark 8.3%)
Council has received 39% ($42.0 million) of its operating revenue budget ($106.6 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $38.7 million (52%) of the             Waste utility charges $345k above YTD budget
                       annual budget of $74.6                  (53% or $6.8 million of $12.9 million budget
                       million has been earned                 earned)
                                                              All other rates and charges in line with YTD
                                                               budget
 Fees and              $1.2 million (16%) of the $7.2         Development assessment fees $143k above
 Charges               million annual budget has               YTD budget (15% or $282k of $1.8 million
                       been earned                             budget earned)
                                                              Plumbing application fees $40k above YTD
                                                               budget (20% or $202k of $1.0 million budget
                                                               earned)
 Sale of Goods         $975k (10%) of the $10.2               Waste management sale of recoverable
 and Services          million budget has been                 materials $113k above YTD budget (10% or
                       received                                $462k of $4.6 million budget earned).
                                                              Holiday Park sales $43k above YTD budget (9%
                                                               or $269k of $2.8 million budget earned) –
                                                               however will be impacted from COVID-19
                                                               pandemic related closures in August. Any
                                                               revenue impact will be offset by reduced
                                                               operating costs
                                                              Community Facilities (NAC, NLC and The J)
                                                               $78k above YTD budget (8% or $218k of $2.6
                                                               million budget earned) – however will be
                                                               impacted from COVID-19 pandemic related
                                                               closures in August. Any revenue impact will be
                                                               offset by reduced operating costs


                                                                                                Page 64 of 92