2021-06-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               14 JUNE 2021


Council’s performance against key measures of financial sustainability have been calculated as at
31 May 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%         -0.9%          10.0%           On Track
 Net Financial Liabilities Ratio    < 60%         -8.1%          -35.0%          On Track
 Cash Cover Ratio                  3 months    7.7 months     10.9 months      Above Target
 Asset Sustainability Ratio         > 90%        100.1%          69.8%           On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 14 June 2021 outlining May 2021 year to date financial performance against budget, including
performance against key financial sustainability indicators.



REPORT
Operating Revenue (YTD Benchmark 91.7%)
Council has received 97% ($98.3 million) of its operating revenue budget ($101.2 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $69.3 million (100%) of the         Total rates and levies earned are in line with
                       annual budget of $69.4               YTD budget.
                       million has been earned             Tourism and Economic Levy $75k below budget
                                                            (97% or $2.8 million of $2.9 million budget
                                                            earned) - offset by all other rates and charges
                                                            above YTD budget
 Fees and              $6.9 million (98%) of the $7.0      Building application fees $109k above YTD
 Charges               million annual budget has            budget (105% or $803k of $767k budget
                       been earned                          earned)
                                                           Lions Park holiday parking $106k above YTD
                                                            budget (259% or $173k of $67k budget earned)
                                                           Waste collection fees for temporary services
                                                            and infringements $95k above YTD budget
                                                            (119% or $211k of $177k budget earned)
                                                           Local Laws infringement revenue $65k above
                                                            YTD budget (100% or $1.5 million of $1.5 million
                                                            budget earned)
                                                           Noosa Community Support fees $108k below
                                                            YTD budget (55% of $159k of $291k budget
                                                            earned) – offset by lower costs
 Sale of Goods         $10.6 million (105%) of the         Holiday Park sales $489k above YTD budget
 and Services          $9.9 million budget has been         (111% or $3.5 million of $3.2 million budget
                       received                             earned) – Any positive revenue variances that
                                                            hold through the financial year will be offset in
                                                            part by additional variable operating costs
                                                            including park commissions

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