Victoria City Council Budget Report

Transcription

1 Victoria City Council Report Local Government Victoria

2 Contents Page Mayor and CEO s Introduction 3 reports 1. Link to the Council Plan 4 2. Services and service performance indicators 6 3. Financial statements Notes to the financial statements Financial performance indicators 33 Disclaimer The information contained in this document is for general guidance only. It is not professional advice and should not be used, relied upon or treated as a substitute for specific professional advice. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this document. The model budget, including financial statements, has been prepared in accordance with the requirements of the Local Government Act 1989 and the Local Government (Planning and Reporting) Regulations While we have made every effort to ensure that the information contained in this document has been accurate and complies with relevant Victorian legislation, each Council remains responsible to ensure that the budget they prepare is compliant with all statutory requirements.

3 G1 Mayor and CEO s Introduction Provide a summary and overview of the budget, linking key initiatives to the strategic objectives of the Council. Refer to guidance document for an example disclosure. Local Government Victoria 3

4 G2 1. Link to the Council Plan This section describes how the Annual links to the achievement of the Council Plan within an overall planning and reporting framework. This framework guides the Council in identifying community needs and aspirations over the long term, medium term (Council Plan) and short term (Annual ) and then holding itself accountable (Annual Report). G3 1.1 Planning and accountability framework The Strategic Resource Plan, part of and prepared in conjunction with the Council Plan, is a rolling four-year plan that outlines the financial and non-financial resources that Council requires to achieve the strategic objectives described in the Council Plan. The Annual is framed within the Strategic Resource Plan, considering the services and initiatives which contribute to achieving the strategic objectives specified in the Council Plan. The diagram below depicts the planning and accountability framework that applies to local government in Victoria. Source: Department of Environment, Land, Water and Planning In addition to the above, Council has a long term plan which articulates a community vision, mission and values. The Council Plan is prepared with reference to Council's long term Community Plan. The timing of each component of the planning framework is critical to the successful achievement of the planned outcomes. Local Government Victoria 4

5 G4 1.2 Our purpose Our vision Insert vision statement Our mission Insert mission statement Our values Insert organisational values G5 1.3 Strategic objectives Insert introduction to Council s Strategic Objectives Strategic Objective Description 1. Strategic Objective Description 2. Strategic Objective Description Local Government Victoria 5

6 G6 2. Services and initiatives and service performance outcome indicators This section provides a description of the services and initiatives to be funded in the for the 2018/19 year and how these will contribute to achieving the strategic objectives outlined in the Council Plan. It also describes several initiatives and service performance outcome indicators for key areas of Council s operations. Council is required by legislation to identify major initiatives, initiatives and service performance outcome indicators in the and report against them in their Annual Report to support transparency and accountability. The relationship between these accountability requirements in the Council Plan, the and the Annual Report is shown below. Source: Department of Environment, Land, Water and Planning 2.1 Strategic Objective 1 Insert introduction on how council will be able to achieve <Strategic Objective 1>. G6 Services Service area Service area Service area Description of services provided Describe the services to be provided (Add quantum of services delivered i.e. measures of activity e.g. number of school crossings) Describe the services to be provided (Add quantum of services delivered i.e. measures of activity e.g. number of school crossings) 2016/17 Actual $' /18 $' /19 $'000 Exp $ 000 $ 000 $ 000 Rev $ 000 $ 000 $ 000 NET $ 000 $ 000 $ 000 Exp $ 000 $ 000 $ 000 Rev $ 000 $ 000 $ 000 NET $ 000 $ 000 $ 000 Local Government Victoria 6

7 G6 Major Initiatives 1) List Council initiatives to achieve the Strategic Objective 2) List Council initiatives to achieve the Strategic Objective Other Initiatives 3) List Council initiatives to achieve the Strategic Objective 4) List Council initiatives to achieve the Strategic Objective G7 Service Performance Outcome Indicators 2016/ / /19 Service Indicator Actual Governance* Satisfaction *refer to table at end of section 2.2 for information on the calculation of Service Performance Outcome Indicators. Local Government Victoria 7

8 2.2 Strategic Objective 2 Insert introduction on how council will be able to achieve <Strategic Objective 2>. Services Service area Service area Service area Description of services provided Describe the services to be provided (Add quantum of services delivered i.e. measures of activity e.g. number of school crossings) Describe the services to be provided (Add quantum of services delivered i.e. measures of activity e.g. number of school crossings) 2016/17 Actual $' /18 $' /19 $'000 Exp $ 000 $ 000 $ 000 Rev $ 000 $ 000 $ 000 NET $ 000 $ 000 $ 000 Exp $ 000 $ 000 $ 000 Rev $ 000 $ 000 $ 000 NET $ 000 $ 000 $ 000 G6 Major Initiatives 1) List Council initiatives to achieve the Strategic Objective 2) List Council initiatives to achieve the Strategic Objective G6 Other Initiatives 3) List Council initiatives to achieve the Strategic Objective 4) List Council initiatives to achieve the Strategic Objective G7 Service Performance Outcome Indicators 2016/ / /19 Service Indicator Actual Statutory planning Decision making Local Government Victoria 8

9 Service Performance Outcome Indicators Service Indicator Performance Measure Computation Governance Satisfaction Satisfaction with Council decisions (Community satisfaction rating out of 100 with how Council has performed in making decisions in the interests of the community) Community satisfaction rating out of 100 with how Council has performed in making decisions in the interests of the community Statutory planning Decision making Council planning decisions upheld at VCAT (Percentage of planning application decisions subject to review by VCAT and that were not set aside) Roads Satisfaction Satisfaction with sealed local roads (Community satisfaction rating out of 100 with how Council has performed on the condition of sealed local roads) Libraries Participation Active library members (Percentage of the municipal population that are active library members) Waste collection Waste diversion Kerbside collection waste diverted from landfill (Percentage of garbage, recyclables and green organics collected from kerbside bins that is diverted from landfill) Aquatic Facilities Utilisation Utilisation of aquatic facilities (Number of visits to aquatic facilities per head of municipal population) [Number of VCAT decisions that did not set aside Council s decision in relation to a planning application / Number of VCAT decisions in relation to planning applications] x100 Community satisfaction rating out of 100 with how Council has performed on the condition of sealed local roads. [Number of active library members / municipal population] x100 [Weight of recyclables and green organics collected from kerbside bins / Weight of garbage, recyclables and green organics collected from kerbside bins] x100 Number of visits to aquatic facilities / Municipal population Animal Management Health and safety Animal management prosecutions (Number of successful animal management prosecutions) Number of successful animal management prosecutions Food safety Health and safety Critical and major non-compliance outcome notifications (Percentage of critical and major non-compliance outcome notifications that are followed up by Council) Maternal and Child Health Participation Participation in the MCH service (Percentage of children enrolled who participate in the MCH service) [Number of critical non-compliance outcome notifications and major non-compliance outcome notifications about a food premises followed up / Number of critical non-compliance outcome notifications and major non-compliance outcome notifications about food premises] x100 [Number of children who attend the MCH service at least once (in the year) / Number of children enrolled in the MCH service] x100 Participation in MCH service by Aboriginal children (Percentage of Aboriginal children enrolled who participate in the MCH service) [Number of Aboriginal children who attend the MCH service at least once (in the year) / Number of Aboriginal children enrolled in the MCH service] x100 Local Government Victoria 9

10 G8 2.3 Reconciliation with budgeted operating result Net Cost Strategic Objectives (Revenue) Expenditure Revenue $ 000 $ 000 $ 000 Strategic Objectives Strategic Objectives Strategic Objectives Total Expenses added in: Depreciation 0 Finance costs 0 Others 0 Deficit before funding sources 0 Funding sources added in: Rates & charges revenue 0 Waste charge revenue 0 Total funding sources 0 Operating surplus for the year 0 Less Capital grants 0 Capital contributions 0 Underlying surplus 0 Less Additional rates funded Capex beyond depreciation 0 Loan principal repayments 0 Transfer from reserves to operating budget 0 Transfer to reserves from operating budget 0 (Surplus) / Deficit funds 0 Local Government Victoria 10

11 3. Financial statements This section presents information in regard to the Financial Statements and Statement of Human Resources. The budget information for the year 2018/19 has been supplemented with projections to 2021/22 extracted from the Strategic Resource Plan. This section includes the following financial statements prepared in accordance with the Local Government Act 1989 and the Local Government (Planning and Reporting) Regulations Comprehensive Income Statement Balance Sheet Statement of Changes in Equity Statement of Cash Flows Statement of Capital Works Statement of Human Resources Local Government Victoria 11

12 G9 Comprehensive Income Statement For the four years ending 30 June 2022 Strategic Resource Plan Actual Projections 2017/ / / / /22 NOTES $ 000 $ 000 $ 000 $ 000 $ 000 Income Rates and charges Statutory fees and fines User fees Grants operating Grants - capital Contributions - monetary Contributions non-monetary Net gain/(loss) on disposal of property, infrastructure, plant and equipment Fair value adjustments for investment property Share of net profits/(losses) of associates and joint ventures Other income Total income Expenses Employee costs Materials and services Depreciation and amortisation Bad and doubtful debts Borrowing costs Other expenses Total expenses Surplus/(deficit) for the year Other comprehensive income Items that will not be reclassified to surplus or deficit in future periods Net asset revaluation increment /(decrement) Share of other comprehensive income of associates and joint ventures Items that may be reclassified to surplus or deficit in future periods (detail as appropriate) Total comprehensive result Local Government Victoria 12

13 G9 Balance Sheet For the four years ending 30 June 2022 Strategic Resource Plan Actual Projections 2017/ / / / /22 NOTES $ 000 $ 000 $ 000 $ 000 $ 000 Assets Current assets Cash and cash equivalents Trade and other receivables Other financial assets Inventories Non-current assets classified as held for sale Other assets Total current assets Non-current assets Trade and other receivables Other financial assets Investments in associates, joint arrangements and subsidiaries Property, infrastructure, plant & equipment Investment property Intangible assets Total non-current assets Total assets Liabilities Current liabilities Trade and other payables Trust funds and deposits Provisions Interest-bearing liabilities Total current liabilities Non-current liabilities Provisions Interest-bearing liabilities Total non-current liabilities Total liabilities Net assets Equity Accumulated surplus Reserves Total equity Local Government Victoria 13

14 G9 Statement of Changes in Equity For the four years ending 30 June 2022 Total Accumulated Surplus Revaluation Reserve Other Reserves NOTES $ 000 $ 000 $ 000 $ Actual Balance at beginning of the financial year Surplus/(deficit) for the year Net asset revaluation increment/(decrement) Transfers to other reserves Transfers from other reserves Balance at end of the financial year Balance at beginning of the financial year Surplus/(deficit) for the year Net asset revaluation increment/(decrement) Transfers to other reserves Transfers from other reserves Balance at end of the financial year Balance at beginning of the financial year Surplus/(deficit) for the year Net asset revaluation increment/(decrement) Transfers to other reserves Transfers from other reserves Balance at end of the financial year Balance at beginning of the financial year Surplus/(deficit) for the year Net asset revaluation increment/(decrement) Transfers to other reserves Transfers from other reserves Balance at end of the financial year Balance at beginning of the financial year Surplus/(deficit) for the year Net asset revaluation increment/(decrement) Transfers to other reserves Transfers from other reserves Balance at end of the financial year Local Government Victoria 14

15 G9 Statement of Cash Flows For the four years ending 30 June 2022 Actual Strategic Resource Plan Projections 2017/ / / / /22 $ 000 $ 000 $ 000 $ 000 $ 000 Inflows Inflows Inflows Inflows Inflows NOTES (Outflows) (Outflows) (Outflows) (Outflows) (Outflows) Cash flows from operating activities Rates and charges Statutory fees and fines User fees Grants operating Grants - capital Contributions - monetary Interest received Dividends received Trust funds and deposits taken Other receipts Net GST refund / payment Employee costs Materials and services Trust funds and deposits repaid Other payments Net cash provided by/(used in) operating activities Cash flows from investing activities Payments for property, infrastructure, plant and equipment Proceeds from sale of property, infrastructure, plant and equipment Payments for investments Proceeds from sale of investments Loans and advances made Payments of loans and advances Net cash provided by/ (used in) investing activities 0 Cash flows from financing activities Finance costs Proceeds from borrowings Repayment of borrowings Net cash provided by/(used in) financing activities Net increase/(decrease) in cash & cash equivalents Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at the end of the financial year Local Government Victoria 15

16 G9 Statement of Capital Works For the four years ending 30 June 2022 Actual Strategic Resource Plan Projections 2017/ / / / /22 NOTES $ 000 $ 000 $ 000 $ 000 $ 000 Property Land Land improvements Total land Buildings Heritage buildings Building improvements Leasehold improvements Total buildings Total property Plant and equipment Heritage plant and equipment Plant, machinery and equipment Fixtures, fittings and furniture Computers and telecommunications Library books Total plant and equipment Infrastructure Roads Bridges Footpaths and cycleways Drainage Recreational, leisure and community facilities Waste management Parks, open space and streetscapes Aerodromes Off street car parks Other infrastructure Total infrastructure Total capital works expenditure Expenditure types represented by: New asset expenditure Asset renewal expenditure Asset expansion expenditure Asset upgrade expenditure Total capital works expenditure Funding sources represented by: Grants Contributions Council cash Borrowings Total capital works expenditure Local Government Victoria 16

17 G10 Statement of Human Resources For the four years ending 30 June 2022 Actual Strategic Resource Plan Projections 2017/ / / / /22 $ 000 $ 000 $ 000 $ 000 $ 000 Staff expenditure Employee costs - operating Employee costs - capital Total staff expenditure FTE FTE FTE FTE FTE Staff numbers Employees Total staff numbers A summary of human resources expenditure categorised according to the organisational structure of Council is included below: Comprises 2018/19 Permanent Casual Temporary Department $ 000 Full time Part Time $ 000 $ 000 $ 000 $ 000 Asset Management City Services Community Services Corporate Services Culture and Leisure Environment and Amenity Strategy and Governance Total permanent staff expenditure Casuals, temporary and other expenditure 0 Capitalised Labour costs 0 Total expenditure 0 A summary of the number of full time equivalent (FTE) Council staff in relation to the above expenditure is included below: Department 2018/19 FTE Permanent Full time Part Time Comprises Casual Temporary Asset Management City Services Community Services Corporate Services Culture and Leisure Environment and Amenity Strategy and Governance Total permanent staff Casuals, temporary and other expenditure 0 Capitalised Labour costs 0 Total staff 0 Local Government Victoria 17

18 4. Notes to the financial statements This section presents detailed information on material components of the financial statements. Council needs to assess which components are material, considering the dollar amounts and nature of these components. 4.1 Comprehensive Income Statement G Rates and charges Rates and charges are required by the Act and the Regulations to be disclosed in Council s annual budget. In developing the Strategic Resource Plan, rates and charges were identified as an important source of revenue. Planning for future rate increases has therefore been an important component of the Strategic Resource Planning process. The Fair Go Rates System (FGRS) sets out the maximum amount councils may increase rates in a year. For 2018/19 the FGRS cap has been set at 2.25%. The cap applies to both general rates and municipal charges and is calculated on the basis of council s average rates and charges. The level of required rates and charges has been considered in this context, with reference to Council's other sources of income and the planned expenditure on services and works to be undertaken for the community. To achieve these objectives while maintaining service levels and a strong capital expenditure program, the average general rate and the municipal charge will increase by 2.25% in line with the rate cap. <Insert other rate increases as applicable>. This will raise total rates and charges for 2018/19 to <insert $ amount> (a) The reconciliation of the total rates and charges to the Comprehensive Income Statement is as follows: Actual 2017/ /19 Change $ 000 $ 000 $ 000 % General rates* % Municipal charge* % Waste management charge % Service rates and charges % Special rates and charges % Supplementary rates and rate adjustments % Interest on rates and charges % Revenue in lieu of rates % Total rates and charges % *These items are subject to the rate cap established under the FGRS (b) The rate in the dollar to be levied as general rates under Section 158 of the Act for each type or class of land compared with the previous financial year Type or class of land 2017/ /19 cents/$civ* cents/$civ* Change General rate for rateable residential properties % General rate for rateable commercial properties % General rate for rateable industrial properties % Local Government Victoria 18

19 (* Use CIV or NAV depending on the valuation basis used by the Council) 4.1.1(c) The estimated total amount to be raised by general rates in relation to each type or class of land, and the estimated total amount to be raised by general rates, compared with the previous financial year Type or class of land 2017/ /19 Change $ 000 $ 000 $ 000 % Residential % Commercial % Industrial % Total amount to be raised by general rates % 4.1.1(d) The number of assessments in relation to each type or class of land, and the total number of assessments, compared with the previous financial year. Type or class of land 2017/ /19 Change Number Number $ 000 % Residential % Commercial % Industrial % Total number of assessments % 4.1.1(e) The basis of valuation to be used is the* (*use Capital Improved Value (CIV) or Net Annual Value (NAV) depending on which is applicable to Council) (f) The estimated total value of each type or class of land, and the estimated total value of land, compared with the previous financial year Type or class of land 2017/ /19 Change $ 000 $ 000 $ 000 % Residential % Commercial % Industrial % Total value of land % 4.1.1(g) The municipal charge under Section 159 of the Act compared with the previous financial year Per Rateable Per Rateable Property Property Change Type of Charge 2017/ /19 $ $ $ % Municipal % 4.1.1(h) The estimated total amount to be raised by municipal charges compared with the previous financial year 2017/ /19 Change Type of Charge $ $ $ % Municipal % Local Government Victoria 19

20 4.1.1(i) The rate or unit amount to be levied for each type of service rate or charge under Section 162 of the Act compared with the previous financial year Per Rateable Property Per Rateable Property Change Type of Charge 2017/ /19 $ $ $ % List service rate/charge % List service rate/charge % Total % 4.1.1(j) The estimated total amount to be raised by each type of service rate or charge, and the estimated total amount to be raised by service rates and charges, compared with the previous financial year Type of Charge 2017/ /19 Change $ $ $ % List service rate/charge % List service rate/charge % Total % 4.1.1(k) The estimated total amount to be raised by all rates and charges compared with the previous financial year 2017/ /19 Change $ 000 $ 000 $ 000 % List service rate/charge % List service rate/charge % List service rate/charge % List service rate/charge % List service rate/charge % Total Rates and charges % 4.1.1(l) Fair Go Rates System Compliance Victorian City Council is fully compliant with the State Government s Fair Go Rates System. 2017/ /19 Total Rates $ $ Number of rateable properties xxx xxx Base Average Rate $ $ Maximum Rate Increase (set by the State Government) 2.00% 2.25% Capped Average Rate $ $ Maximum General Rates and Municipal Charges Revenue $ $ ed General Rates and Municipal Charges Revenue $ $ 4.1.1(m) Any significant changes that may affect the estimated amounts to be raised by rates and charges There are no known significant changes which may affect the estimated amounts to be raised by rates and charges. However, the total amount to be raised by rates and charges may be affected by: The making of supplementary valuations (2018/19: estimated $xxxx and 2017/18: $xxxx) The variation of returned levels of value (e.g. valuation appeals) Changes of use of land such that rateable land becomes non-rateable land and vice versa Changes of use of land such that residential land becomes business land and vice versa (n) Differential rates Local Government Victoria 20

21 Refer to better practice guide for details on disclosing differential rates. G Statutory fees and fines Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Infringements and costs % Court recoveries % Town planning fees % List other components - agree to Model % Accounts Total statutory fees and fines % <Add comments here> G User fees Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Aged and health services % Leisure centre and recreation % Child care/children's programs % List other components - agree to Model % Accounts Total user fees % <Add comments here> Local Government Victoria 21

22 G Grants Grants are required by the Act and the Regulations to be disclosed in Council s annual budget. Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Grants were received in respect of the following: Summary of grants Commonwealth funded grants % State funded grants % Total grants received % (a) Operating Grants Recurrent - Commonwealth Government Financial Assistance Grants % Family day care % General home care % Add additional grants by type as appropriate % Recurrent - State Government Primary care partnerships % Aged care % School crossing supervisors % Libraries % Maternal and child health % Recreation % Community safety % Add additional grants by type as appropriate % Total recurrent operating grants % Non-recurrent - Commonwealth Government Drainage maintenance % Environmental planning % Non-recurrent - State Government Community health % Family and children % Total non-recurrent operating grants % Total operating grants % (b) Capital Grants Recurrent - Commonwealth Government Roads to recovery % Add additional grants by type as appropriate % Recurrent - State Government Add additional grants by type as appropriate % Total recurrent capital grants % Non-recurrent - Commonwealth Government Buildings % Plant, machinery and equipment % Drainage % Add additional grants by type as appropriate % Non-recurrent - State Government Buildings % Add additional grants by type as appropriate % Total non-recurrent capital grants % Total capital grants % Total Grants % Insert commentaries on operating grants e.g. sources and use of funds and projected level in the next financial year. Insert commentaries on capital grants e.g. sources and use of funds and projected level in the next financial year. Local Government Victoria 22

23 G Contributions Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Monetary % Non-monetary % Total contributions % <Add comments here. Revise the table as appropriate> G Other income Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Interest % Dividends % Investment property rental % List other components - agree to Model % Accounts Total other income % <Add comments here> G Employee costs Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Wages and salaries % WorkCover % Superannuation % List other components - agree to Model % Accounts Total employee costs % <Add comments here> Local Government Victoria 23

24 G Materials and services Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Contract payments % Building maintenance % General maintenance % List other components - agree to Model % Accounts Total materials and services % <Add comments here> G Depreciation and amortisation Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Property % Plant & equipment % Infrastructure % List other components - agree to Model % Accounts Total depreciation and amortisation % <Add comments here> G Other expenses Add additional tables for each material components of the Comprehensive Income Statement. Actual 2017/ /19 Change $ 000 $ 000 $ 000 % List the other components % List the other components % List the other components % List the other components - agree to Model % Accounts Total other expenses % <Add comments here> Local Government Victoria 24

25 4.2 Balance Sheet Assets <Add relevant comments here> Liabilities <Add relevant comments here> G Borrowings The table below shows information on borrowings specifically required by the Regulations. 2017/ /19 $ $ Amount borrowed as at 30 June of the prior year 0 0 Amount proposed to be borrowed 0 0 Amount projected to be redeemed 0 0 Amount of borrowings as at 30 June 0 0 Local Government Victoria 25

26 4.3 Statement of changes in Equity Reserves <Add comments detailing movements to and from reserves. If not clearly apparent, comments should explain the purpose of the reserve > Equity <Add any relevant comments here> Local Government Victoria 26

27 4.4 Statement of Cash Flows Net cash flows provided by/(used in) operating activities <Add comments here> Net cash flows provided by/(used in) investing activities <Add comments here> Net cash flows provided by/(used in) financing activities <Add comments here> Local Government Victoria 27

28 4.5 Capital works program This section presents a listing of the capital works projects that will be undertaken for the 2018/19 year, classified by expenditure type and funding source. Works are also disclosed as current budget or carried forward from prior year Summary G15 Actual 2017/ /19 Change $ 000 $ 000 $ 000 % Property % Plant and equipment % Infrastructure % Total % <Add comments here> Project Cost Asset expenditure types Summary of Funding Sources New Renewal Upgrade Expansion Grants Contributions Council Cash Borrowings $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $'000 $'000 Property Plant and equipment Infrastructure Total <Add comments here> Victorian City Council Model 2018/2019 Local Government Victoria 28

29 4.5.2 Current G15 Project Asset expenditure types Summary of Funding sources Capital Works Area Cost New Renewal Upgrade Expansion Grants Contributions Council Cash Borrowings $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $'000 $'000 PROPERTY Land Land Improvements Buildings Building Improvements Leasehold Improvements Heritage buildings TOTAL PROPERTY PLANT AND EQUIPMENT Plant, Machinery and Equipment Fixtures, Fittings and Furniture Computers and Telecommunications Heritage Plant and Equipment Library books TOTAL PLANT AND EQUIPMENT Victorian City Council Model 2018/2019 Local Government Victoria 29

30 G15 Project Asset expenditure types Summary of Funding sources Capital Works Area Cost New Renewal Upgrade Expansion Grants Contributions Council Cash Borrowings $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $'000 $'000 INFRASTRUCTURE Roads Bridges Footpaths and Cycleways Drainage Recreational, Leisure & Community Facilities Waste Management Parks, Open Space and Streetscapes Aerodromes Off Street Car Parks Other Infrastructure TOTAL INFRASTRUCTURE TOTAL CAPITAL WORKS Victorian City Council Model 2018/2019 Local Government Victoria 30

31 4.5.3 Works carried forward from the 2017/18 year G15 Project Asset expenditure types Summary of Funding sources Capital Works Area Cost New Renewal Upgrade Expansion Grants Contributions Council Cash Borrowings $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $'000 $'000 PROPERTY Land Land Improvements Buildings Building Improvements Leasehold Improvements Heritage buildings TOTAL PROPERTY PLANT AND EQUIPMENT Plant, Machinery and Equipment Fixtures, Fittings and Furniture Computers and Telecommunications Heritage Plant and Equipment Library books TOTAL PLANT AND EQUIPMENT Victorian City Council Model 2018/2019 Local Government Victoria 31

32 G15 Project Asset expenditure types Summary of Funding sources Capital Works Area Cost New Renewal Upgrade Expansion Grants Contributions Council Cash Borrowings $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $'000 $'000 INFRASTRUCTURE Roads Bridges Footpaths and Cycleways Drainage Recreational, Leisure & Community Facilities Waste Management Parks, Open Space and Streetscapes Aerodromes Off Street Car Parks Other Infrastructure TOTAL INFRASTRUCTURE TOTAL CARRIED FORWARD CAPITAL WORKS 2017/ Victorian City Council Model 2018/2019 Local Government Victoria 32

33 Notes G16 5. Financial performance indicators The following table highlights Council s current and projected performance across a range of key financial performance indicators. These indicators provide a useful analysis of Council s financial position and performance and should be interpreted in the context of the organisation s objectives. Indicator Operating position Adjusted underlying result Liquidity Working Capital Unrestricted cash Obligations Loans and borrowings Loans and borrowings Measure Adjusted underlying surplus (deficit) / Adjusted underlying revenue Current assets / current liabilities Unrestricted cash / current liabilities Interest bearing loans and borrowings / rate revenue Interest and principal repayments on interest bearing loans and borrowings / rate revenue Actual Strategic Resource Plan Projections Trend 2016/ / / / / /22 +/o/- 1 % % % % % % + 2 % % % % % % o 3 % % % % % % o 4 % % % % % % + % % % % % % + Indebtedness Non-current liabilities / own source revenue % % % % % % + Asset renewal Asset renewal expenses / Asset depreciation 5 % % % % % % - Stability Rates concentration Rate revenue / adjusted underlying revenue 6 % % % % % % - Rates effort Rate revenue / CIV of rateable properties in the municipality % % % % % % o Victorian City Council Model 2018/2019 Local Government Victoria 33

34 Notes Indicator Measure Efficiency Actual Strategic Resource Plan Projections Trend 2016/ / / / / /22 +/o/- Expenditure level Total expenses/ no. of property assessments $000 $000 $000 $000 $000 $000 + Revenue level Workforce turnover Residential rate revenue / no. of residential property assessments No. of permanent staff resignations & terminations / average no. of permanent staff for the financial year $000 $000 $000 $000 $000 $000 + % % % % % % + Key to Trend: + s improvement in Council's financial performance/financial position indicator o s that Council's financial performance/financial position indicator will be steady - s deterioration in Council's financial performance/financial position indicator Notes to indicators 1. Adjusted underlying result <add commentaries as appropriate> 2. Working Capital <add commentaries as appropriate> 3. Unrestricted Cash <add commentaries as appropriate> 4. Debt compared to rates <add commentaries as appropriate> 5. Asset renewal <add commentaries as appropriate> 6. Rates concentration <add commentaries as appropriate> Victorian City Council Model 2018/2019 Local Government Victoria 34