2019-08-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         12 AUGUST 2019


This report also includes changes to present Council’s performance on a number of key
measures of financial sustainability. These indicators, as supported by various industry bodies
including QTC and QAO, enable users of financial data to assess an organisation’s long term
success in managing its budget, cash and debt as well as asset management.

The table below contains a snapshot 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%           0.1%          77.7%          On Track
 Net Financial Liabilities Ratio    <60%            -7.0%         -48.5%       Above Target
 Cash Cover Ratio                  3 months      5.8 months     9.1 months     Above Target
 Asset Sustainability Ratio         > 90%           120%            4%           On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 August 2019 outlining July 2019 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 8.3%)
Council has received 39% ($38.6 million) of its operating revenue budget ($98.7 million).
Commentary on each revenue category is provided below.

 Category              Summary                          Comments
 Rates and Levies      $35.4 million (52%) of the           Waste levy associated with commercial utility
                       annual budget of $68.0                 charges $355k (currently no budget – dealt
                       million has been earned                with via BR1)
                                                            Waste utility charges $360k above YTD budget
                                                              (54% or $4.5 million of $8.4 million budget
                                                              earned)
 Fees and              $1.4 million (20%) of the $6.7       Plumbing application fees $62k above YTD
 Charges               million annual budget has              budget (23% or $220k of $971k budget
                       been earned                            earned)
                                                            Development related fees $52k above YTD
                                                              budget (11% or $184k of $1.6 million budget
                                                              earned)
                                                            Local laws fees $20k above YTD budget (37%
                                                              or $521k of $1.4 million budget earned)
 Sale of Goods         $656k (7%) of the $9.6               Landfill disposal charges $42k above YTD
 and Services          million budget has been                budget (10% or $323k of $3.4 million budget
                       received                               earned)
                                                            Noosa Leisure Centre sales $16k above YTD
                                                              budget (10% or $59k of the $575k budget
                                                              earned)
 Interest              $107k (3%) of the $4.0               Investment revenue $23k above YTD budget
 Received              million annual budget has              (11% or $107k of $1.0 million budget earned)
                       been earned


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