2022-06-13 General Committee Meeting Agenda PUBLIC

GENERAL COMMITTEE MEETING AGENDA                                                                13 JUNE 2022


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          Actual
                                    Target                                                 Status
                                                      Budget            YTD
 Operating Surplus Ratio             0-10%             -0.6%           13.4%           Above Target
 Net Financial Liabilities
                                                                                       Above Target
 Ratio                               <60%             -12.7%           -36.5%
                                                                         12.4
 Cash Cover Ratio                                                                      Above Target
                                   3 months          8.8 months        months
 Asset Sustainability Ratio          > 90%            130.1%           77.6%           Below Target


RECOMMENDATION9
That Council note the report by the Financial Services Manager (Acting) to the General Committee
Meeting dated 13 June 2022 outlining May 2022 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 91.67%)
Council has received 99% ($108.1 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 $343k above YTD budget
                      of the annual budget of        (101.6% or $13.5 million of $13.2 million annual budget
                      $74.8 million has been         earned)
                      earned                     •   General rate (net of discounts) $78k below YTD budget
                                                     (99.9% or $56.1 million of $56.2 million annual budget
                                                     earned)
 Fees and             $8.2 million (99.6%) of    •   Development assessment fees $219k above YTD
 Charges              the   $8.25      million       budget (96.1% or $2.3 million of $2.4 million annual
                      annual budget has              budget earned)
                      been earned                •   Plumbing application fees $124k above YTD budget
                                                     (106.0% or $1.38 million of $1.30 million annual budget
                                                     earned)
                                                 •   Property and Facility fees $261k above YTD budget
                                                     (134.0% or $547k of $408k annual budget earned)
                                                 •   Local Laws fees $68.1k above YTD budget (98.0% or
                                                     $1.5 million of $1.56 million annual budget earned)
                                                 •   Building application fees $55k above YTD budget
                                                     (93.5% or $801k of $857k annual budget earned)
 Sale of Goods        $11.9 million (107%) of    •   Holiday Park sales $607k above YTD budget (112.5%
 and Services         the   $11.1      million       or $3.4 million of $3.1 million annual budget earned) –
                      annual budget has              Positive revenue variances that hold through the
                      been received                  financial year will be offset in part by additional variable
                                                     operating costs
                                                 •   Waste management sale of recoverable materials
                                                     $552k above YTD budget (144.3% or $1.6 million of
                                                     $1.1 million annual budget earned)


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