2023-03-13 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING REPORT                                                        13 MARCH 2023


Figure 1: Actual Performance Compared to Budget




Council’s performance against key measures of financial sustainability has been calculated as at
February 2023. 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%           31.3%           On Track
 Net Financial Liabilities Ratio      <60%               1.0%           -49.6%          On Track
 Cash Cover Ratio                   3 months          6.7 months     15.4 months        On Track
 Asset Sustainability Ratio           > 90%            188.0%           117.0%          On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 13 March 2023 outlining February 2023 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 66.67%)
Council has received 92.5% ($109.6 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                  Comments
 Rates and Levies     $83.2 million               General rate (net of discounts) $341.3k above YTD
                      (100.9%) of the              budget (100.6% or $62.9 million of $62.6 million annual
                      annual budget of             budget earned)
                      $82.5 million has           Waste utility charges $329.1k above YTD budget
                      been earned                  (102.3% or $14.6 million of $14.3 million annual budget
                                                   earned)
 Fees and             $5.8 million (65.6%)        Property and Facility fees $105.3k above YTD budget
 Charges              of the annual budget         (82.8% or $424.9k of $514k annual budget earned)
                      of $8.9 million has         Plumbing fees $164.7k above YTD budget (81.7% or
                      been earned                  $942.6k of $1.1 million annual budget earned)
                                                  Waste Management fees $38.6k above YTD budget
                                                   (59.9% or 131.1k of $219.0k annual budget earned)

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