2022-11-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                   14 NOVEMBER 2022


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              0-10%            -0.6%            29.4%          On Track
 Net Financial Liabilities Ratio      <60%              1.0%           -71.4%          On Track
 Cash Cover Ratio                   3 months         6.7 months      13.8 months       On Track
 Asset Sustainability Ratio           > 90%           188.0%            65.6%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 14 November 2022 outlining October 2022 year to date financial performance
against budget, including changes to the financial performance report with the inclusion of key
financial sustainability indicators.

REPORT
Operating Revenue (YTD Benchmark 33.3%)
Council has received 45.4% ($53.8 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                   Comments
 Rates and Levies     $41.5 million (50.3%)        Waste utility charges $154.1k above YTD budget
                      of the annual budget          (50.9% or $7.3 million of $14.3 million annual budget
                      of $82.5 million has          earned)
                      been earned                  General rate (net of discounts) $159.9k above YTD
                                                    budget (50.2% or $31.4 million of $62.6 million annual
                                                    budget earned)
 Fees and             $3.5 million (39.4%) of      Building & Plumbing fees $80.4k above YTD budget
 Charges              the $8.9 million annual       (35.9% or $788.0k of $2.2 million annual budget
                      budget has been               earned)
                      earned                       Property and Facility fees $78.3k above YTD budget
                                                    (50.7% or $260.6k of $514k annual budget earned)
                                                   Development assessment fees $73.3k above YTD
                                                    budget (31.0% or $864.2k of $2.8 million annual
                                                    budget earned)
                                                   Revenue Services $32.6k below YTD budget (31.9%
                                                    or $122.3k of $383.5k annual budget earned)
                                                   Local Laws $24.0k below YTD budget (44.3% or
                                                    $748.6k of $1.7 million annual budget earned)
 Sale of Goods        $4.5 million (36.6%) of      Waste disposal fees $227.1k above YTD budget
 and Services         the $12.3 million             (36.3% or $1.5 million of $4.2 million annual budget
                      annual budget has             earned)
                      been received                Holiday Park sales $197.7k above YTD budget (38.6%
                                                    or $1.3 million of $3.5 million annual budget earned).
                                                    Any revenue upside will be generally offset by a
                                                    corresponding increase in associated operating costs
                                                   Community Facility fees $107.7k above YTD budget
                                                    (36.5% or $1.0 million of $2.8 million annual budget
                                                    earned)

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