09 Financial Performance Report - Mar 2022

GENERAL COMMITTEE MEETING AGENDA                                                              19 APRIL 2022


Council’s performance against key measures of financial sustainability has been calculated as at
March 2022. 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
                                                     Current
                                     Target                          Actual YTD             Status
                                                     Budget
 Operating Surplus Ratio             0-10%            -0.6%             24.7%           Above Target
 Net Financial Liabilities Ratio     <60%            -12.7%            -50.1%           Above Target
 Cash Cover Ratio                  3 months         8.8 months      13.4 months         Above Target
 Asset Sustainability Ratio          > 90%           130.1%             64.2%           Below Target


RECOMMENDATION
That Council note the report by the Financial Services Manager (Acting) to the General Committee
Meeting dated 19 April 2022 outlining March 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 75%)
Council has received 94% ($103.2 million) of its operating revenue budget ($109.6 million).
Commentary on each revenue category is provided below.

 Category             Summary                   Comments
 Rates and Levies     $74.9 million (100%) of   •   Waste utility charges $360k above YTD budget (102%
                      the annual budget of          or $13.5 million of $13.2 million annual budget earned)
                      $74.8 million has been    •   General rate (net of discounts) $153k below YTD
                      earned                        budget (100% or $56.1 million of $56.2 million annual
                                                    budget earned)
 Fees and             $7.1 million (86%) of     •   Plumbing application fees $132k above YTD budget
 Charges              the $8.2 million annual       (94% or $1.2 million of $1.3 million annual budget
                      budget     has    been        earned)
                      earned                    •   Local Laws fees $72k above YTD budget (86% or
                                                    $1.35 million of $1.6 million annual budget earned) –
                                                    offset by corresponding additional staff costs
                                                •   Property and Facility fees $129k above YTD budget
                                                    (98% or $401k of $408k annual budget earned)
                                                •   Development assessment fees $184k above YTD
                                                    budget (83% or $2.0 million of $2.4 million annual
                                                    budget earned)
 Sale of Goods        $9.6 million (87%) of     •   Holiday Park sales $530k above YTD budget (92% or
 and Services         the   $11.1     million       $2.8 million of $3.1 million annual budget earned) –
                      annual budget has             Positive revenue variances that hold through the
                      been received                 financial year will be offset in part by additional variable
                                                    operating costs
                                                •   Waste management sale of recoverable materials
                                                    $446k above YTD budget (120% or $1.4 million of $1.1
                                                    million annual budget earned)
                                                •   Waste disposal fees $105k above YTD budget (76% or
                                                    $3.1 million of $4.0 million annual budget earned)