2023-01-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                     16 JANUARY 2023


Figure 1: Actual Performance Compared to Budget




Council’s performance against key measures of financial sustainability has been calculated as at
December 2022. These statutory 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%            7.5%           On Track
 Net Financial Liabilities Ratio      <60%              1.0%            -36.9%          On Track
 Cash Cover Ratio                   3 months         6.7 months      11.7 months        On Track
 Asset Sustainability Ratio           > 90%            188.0%           95.6%           On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 16 January 2022 outlining December 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 50.0%)
Council has received 50.7% ($60.1 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                   Comments
 Rates and Levies     $41.6 million (50.4%)        Waste utility charges $174.5k above YTD budget
                      of the annual budget          (51.0% or $7.3 million of $14.3 million annual budget
                      of $82.5 million has          earned)
                      been earned                  General rate (net of discounts) $208.3k above YTD
                                                    budget (50.2% or $31.4 million of $62.6 million annual
                                                    budget earned)
 Fees and             $4.6 million (51.9%) of      Building & Plumbing fees $130.7k above YTD budget
 Charges              the $8.9 million annual       (50.3% or $1.1 million of $2.2 million annual budget
                      budget has been               earned)
                      earned


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