Meeting papers

GENERAL COMMITTEE MEETING                                                            14 AUGUST 2023




Previous Council Consideration
The 2023/24 original budget was adopted by Council resolution on 30 June 2023 (Ref. Special
Meeting Minutes, 30 June 2023, Item 2.5, Page 4).

The original 2023/24 fees and charges were adopted by Council resolution on 15 June 2023 (Ref:
Ordinary Meeting Minutes, 15 June 2022, Item 8.3, Page 20)
Finance
The financial sustainability ratios for asset sustainability and net financial liabilities are forecast
to meet the benchmark targets under the revised BR1 budget for 2023/24; however the
operating surplus ratio will fall below the target range.

Ratio                         Target       Original Budget        BR1
Operating Surplus             0 – 10%            0.1%            (0.6%)
Net Financial Liabilities      < 60%            (6.8%)            -9.0%
Asset Sustainability           > 90%           145.7%            150.5%




Risk & Opportunities
Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.


Consultation
External Consultation - Community & Stakeholder
Nil
Internal Consultation
Financial Services have been in contact with all Council branches.

Directors of each department have reviewed endorsed all submissions received. The Executive




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