2020-05-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               18 MAY 2020


Figure 1: Actual Performance Compared to Budget

  $100                  $93.3      $93.0     YTD Budget ($m)
   $90
                                             YTD Actual ($m)      $79.6       $78.2
   $80
   $70
   $60
   $50
   $40
   $30
   $20
   $10
     $-
                     Operating Revenue                         Operating Expenditure

YTD performance against Council’s key measures of financial sustainability have been calculated
as at April 2020. 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
                                  Target        Target            Current             Actual      30 June
                                  Value          Date             Budget               YTD         Status
Operating Surplus Ratio           0-10%      30 June 2020           0.0%              15.9%        Watch
Net Financial Liabilities Ratio   <60%         Ongoing              -9.4%             -33.5%      On Target
Cash Cover Ratio                  3 months     Ongoing           6.6 months     10.5 months       On Target
Asset Sustainability Ratio        > 90%      30 June 2020           129%              65.0%       On Track


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 18 May 2020 outlining April 2020 year to date financial performance against
budget, including key financial sustainability indicators.


REPORT
Operating Revenue (YTD Benchmark 83.3%)
Council has received 93% ($93.0 million) of its operating revenue budget ($99.9 million).
Commentary on each revenue category is provided below.

Category              Summary                        Comments
Rates and Levies      $69.0 million (100%) of the       General rates $138k above YTD budget (100%
                      annual budget of $68.7              or $51.1 million of $51.0 million budget earned)
                      million has been earned           Waste utility charges $41k above YTD budget
                                                          (100% or $12.8 million of $12.8 million budget
                                                          earned) – the positive variance from previous
                                                          months has reduced back to YTD budget due to
                                                          businesses reducing waste collection services
                                                          due to the COVID-19 pandemic


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