2022-07-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                   18 JULY 2022


Figure 1: Actual Performance Compared to Budget

$140
                                     $114.5
$120                 $109.5                                             $110.2        $105.5
$100

 $80

 $60

 $40

 $20

   $-
                    Operating Revenue                               Operating Expenditure
                                   YTD Budget ($m)          YTD Actual ($m)

Council’s performance against key measures of financial sustainability has been calculated as at
June 2022. 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.

 FY (Interim) Measures of Financial Sustainability
                                                               Current
                                              Target                             Actual FY        Status
                                                               Budget
                                                                                               Above Target
 Operating Surplus Ratio                      0-10%             -0.6%             10.2%
                                                                                                 & Budget
                                                                                               Above Target
 Net Financial Liabilities Ratio              <60%              -12.7%            -28.0%
                                                                                                 & Budget
                                                                                   13.1        Above Target
 Cash Cover Ratio                         3 months            8.8 months
                                                                                  months         & Budget
                                                                                               Above Target
 Asset Sustainability Ratio                   > 90%            130.1%             95.5%
                                                                                               Below Budget


RECOMMENDATION
That Council note the report by the Financial Services Manager (Acting) to the General Committee
Meeting dated 18 July 2022 outlining the interim 2021/22 full year financial performance against
budget, including key financial sustainability indicators.

REPORT
Operating Revenue (FY Benchmark 100.00%)
Council has received 104% ($114.4 million) of its operating revenue budget ($109.6 million).
Commentary on each revenue category is provided below.

 Category             Summary                          Comments
 Rates and Levies     $74.9 million (100.2%)              Waste utility charges $203k above FY budget (101.6%
                      of the annual budget                 or $13.5 million of $13.2 million annual budget earned)
                      of $74.8 million has                General rate (net of discounts) $67k below FY budget
                      been earned                          (99.9% or $56.1 million of $56.2 million annual budget
                                                           earned)



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