Financial Performance Report – June 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                                     17 JULY 2023


Finance
As above
Risk & Opportunities
Council’s risk register identifies a number of risks that could impact on its ongoing financial
sustainability. In order to manage and mitigate these risks Council uses various tools which include
monthly ongoing financial reporting to identify and address emerging issues, conservative budgeting,
compliance with the Financial Sustainability Policy, regular budget reviews, effective liquidity
management to ensure sufficient fiscal flexibility, as well as adhering to the Reserves and Restricted
Cash policy which requires that Council maintains both a disaster management reserve and a
minimum 3 months cash cover to fund emergent matters.

Some examples of potential risks that may impact on Council’s operational performance, capital
program delivery, cashflow and cash reserves include:
      •    Substantial damage to or failure of Council infrastructure due to natural disaster or other
           emergent issue that may require significant unplanned investment;
      •    An extended closure of Council facilities impacting operational revenues;
      •    A prolonged IT system failure affecting Council’s ability to deliver services or issue rates
           notices;
      •    Economic conditions affecting ratepayers’ ability to pay rates;
      •    Market driven increases in construction and operational costs significantly above estimates;
      •    Labour and material shortages and delays.
Consultation
External Consultation - Community & Stakeholder
Nil
Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.

Departments/Sections Consulted:

      Mayor                        Community Services                          Corporate Services

      Councillors               x Director                                   x Director
                                   Community Development                     x Financial Services
 x Chief Executive Officer         Community Facilities                        Fleet

      Executive Support            Libraries & Galleries                       ICT
                                   Local Laws                                  Procurement

                                   Waste & Environmental Health                Property

                                                                               Revenue Services



      Executive Services           Environment & Sustainable Development       Infrastructure Services

 x Director                     x Director                                   x Director
      Community Engagement         Building & Plumbing Services                Asset Management

      Customer Service             Development Assessment                      Buildings and Facilities