2023-02-13 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                    13 FEBRUARY 2023


Figure 1: Actual Performance Compared to Budget




Council’s performance against key measures of financial sustainability has been calculated as at
January 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%           39.4%            On Track
 Net Financial Liabilities Ratio       <60%             1.0%            -55.6%           On Track
 Cash Cover Ratio                   3 months         6.7 months      12.2 months         On Track
 Asset Sustainability Ratio           > 90%            188.0%           102.4%           On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services (Acting) to the General Committee
Meeting dated 13 February 2023 outlining January 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 58.3%)
Council has received 89.6% ($106.0 million) of its operating revenue budget ($118.4 million).
Commentary on each revenue category is provided below.

 Category             Summary                   Comments
 Rates and Levies     $84.3 million (102.2%)       General rate (net of discounts) $394.7k above YTD
                      of the annual budget          budget (102.3% or $63.9 million of $62.6 million annual
                      of $82.5 million has          budget earned)
                      been earned                  Waste utility charges $295.6k above YTD budget
                                                    (102.3% or $14.6 million of $14.3 million annual budget
                                                    earned)
 Fees and             $5.3 million (59.6%) of      Property and Facility fees $126.7k above YTD budget
 Charges              the annual budget of          (60.3% or $309.5k of $514k annual budget earned)
                      $8.9 million has been        Building & Plumbing fees $54.6k above YTD budget
                      earned                        (59.7% or $1.3 million of $2.2 million annual budget
                                                    earned)

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