2020-02-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       17 FEBRUARY 2020


YTD performance against Council’s key measures of financial sustainability have been calculated
as at January 2020. 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          Target           Current         Actual          Status
                                  Value            Date            Budget           YTD
Operating Surplus Ratio           0-10%       30 June 2020          0.0%           38.7%          On Track
Net Financial Liabilities Ratio   <60%           Ongoing            -9.4%          -51.1%       Above Target
Cash Cover Ratio                  3 months       Ongoing         6.6 months      9.4 months     Above Target
Asset Sustainability Ratio        > 90%       30 June 2020          108%           43.1%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 17 February 2020 outlining January 2020 year to date financial performance
against budget, including key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 58.3%)
Council has received 88% ($87.8 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

Category              Summary                          Comments
Rates and Levies      $70.0 million (102%) of the         General rates $145k above YTD budget (100%
                      annual budget of $68.7                or $51.1 million of $51.0 million budget earned)
                      million has been earned             Waste utility charges $333k above YTD budget
                                                            (100% or $13.1 million of $12.8 million budget
                                                            earned)
Fees and              $4.8 million (72%) of the $6.7      Development related fees $37k above YTD
Charges               million annual budget has             budget (81% or $1.3 million of $1.6 million
                      been earned                           budget earned)
                                                          Cemetery fees $51k above YTD budget (81%
                                                            or $185k of $229k budget earned)
                                                          Community land use permits $37k above YTD
                                                            budget (69% or $284k of $410k budget
                                                            earned)
                                                          Plumbing application fees $27k above YTD
                                                            budget (69% or $671k of $971k budget
                                                            earned)
                                                          Building application fees $40k below YTD
                                                            budget (53% or $340k of $730k budget spent)
Sale of Goods         $5.6 million (55%) of the           Noosa Leisure Centre $45k above YTD budget
and Services          $10.1 million budget has              (64% or $365k of $575k budget earned)
                      been received                       Holiday Park sales $69k below YTD budget
                                                            (54% or $1.7 million of $3.9 million budget
                                                            earned) – 1 month delay in planned opening of
                                                            North Shore Campground offset by lower
                                                            expenditure



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