LONG TERM FINANCIAL PLAN 2016 2026 - Yass Valley Council · 2018-07-31 · Financial Plan are to:...

JULY 2016

LONG TERM FINANCIAL PLAN

2016–2026

CONTENTS

Overview ................................................................................................................................................................. 3

Current Financial Position ................................................................................................................................ 5

Improving our Financial Position .................................................................................................................. 6

Measuring Performance .................................................................................................................................... 7

Scenario Modelling ............................................................................................................................................. 8

Scenario with SRV ............................................................................................................................................... 9

Scenario without SRV ...................................................................................................................................... 14

Scenario for General Fund Only .................................................................................................................. 19

Conclusion........................................................................................................................................................... 24

Overview A long term financial plan (LTFP) is one of the three key Resourcing Strategies required by the NSW Integrated Planning & Reporting legislation. Local government operations are vital to its community, and it is important that stakeholders can understand the financial implications arising from its Community Strategic Plan, Delivery Program and annual Operational Plan. The Integrated Planning and Reporting Guidelines guide preparation of the LTFP for Local Government in NSW issued by the Office of Local Government. The LTFP includes:

• projected income and expenditure • balance sheet • cash flow statement • planning assumptions used to

develop the plan • sensitivity analysis – highlight factors

most likely to affect the plan • financial modelling for different

scenarios • methods of monitoring financial

performance

The LTFP contains a core set of assumptions. These assumptions are based on CPI forecasts, interest rate expectations, employee award increases, loan repayment schedules and other special income and costs. Yass Valley Council’s Long Term Financial Plan (LTFP) covers the period 2015/16 to 2025/26. It recognises its current and future financial capacity to continue delivering high quality services, facilities and infrastructure to the community while commencing new initiatives and projects to achieve the goals set down in its Community Strategic Plan. Financial planning over a 10-year time horizon is difficult and obviously relies on a variety of assumptions that will undoubtedly change during this period. The LTFP is therefore closely monitored, and regularly revised, to reflect these changing circumstances. A number of scenarios were considered during the development of the LTFP. In particular, two scenarios have been outlined in more detail for consideration.

“The Long Term Financial

Plan is the point where

long-term community

aspirations and goals are

tested against financial

realities.”

OLG Manual, 2013

The aims of Yass Valley Council’s Long Term Financial Plan are to:

• Set out the assumptions upon which Council’s Financial Plans and budgets have been structured.

• Identify some Key Performance Indicators upon which Council can benchmark its financial performance.

• Set the framework so that the

impact of future policy decisions can be identified.

• Evaluate the impact of future scenarios upon Council’s financial position.

• Provide a basis for future informed decision making.

• Identify issues which impact upon the financial sustainability of Council including known opportunities and threats.

• Achieve a minimum of a balanced budget on a funding basis over time acknowledging that minimum service delivery and urgent asset renewal are the main priorities in the current situation where working fund deficits are forecast.

• Seek to reduce the current working fund deficits by reducing operating costs in real terms over time or expanding the revenue base of Council.

Current Financial Position

Yass Valley Council faces a number of challenges in terms of financial sustainability. Our council administers a regional centre of New South Wales which immediately adjoins the Australian Capital Territory (ACT). As per the DRAFT South East and Tablelands Regional Plan from 2016, the population of the Greater Capital sub-region is projected to increase 47.8% by 2036. This growth and the growth seen in the preceding 10 years has placed pressure on infrastructure and services including roads, utilities, education, health and emergency services. Council currently operates on an annual income around $30 million, with a substantial percentage being derived from government grants which cannot be guaranteed into the future. The graph below shows sources of income:

In 2013, the Division of Local Government appointed New South Wales Treasury Corporation (TCorp) to undertake an assessment of the financial sustainability of all New South Wales councils. The report by Tcorp in 2013, which considered both historic financial information and a 10 year financial forecast, determined Yass Valley Council to be only moderately sustainable in the short to medium term but in a deteriorating position in respect of its longer term sustainability. Council prepared a Fit for the Future Improvement Proposal in June 2015 which included an SRV of 8.5% for 5 years. In August 2015 Council decided to defer implementation of the proposed SRV. In September 2015 IPART determined Council to be not fit. Council subsequently applied for and was granted a special rate variation (SRV) of 8.5% to take effect in 2016/17 for a period of 4 years. The second scenario considers the effect of not implementing this SRV. In order to continue to meet the needs of current and future residents of Yass Valley, the Council must address financial sustainability.

Rates & Annual Charges

User Charges & Fees

Interest

Other Revenue

Grants & Contrib.

Improving our Financial Position

Council is committed to achieving the objectives outlined by the Yass Valley community in the Community Strategic Plan. This includes addressing current goals while planning to meet the requirements for the future. Council is carrying out and will continue to review the following initiatives to maximise the ability to provide services. Improving efficiency of Council operations Although operational efficiencies alone are unlikely to provide the level of additional funding required to achieve financial sustainability, there is scope to improve Council’s financial position by undertaking a full review of operations. This includes reviewing the organisational structure, business systems, exploring opportunities for out-sourcing activities and improving project management capabilities. Service reviews for all functional areas of Council will be carried out over the next few years.

Improving asset management Council currently manages a large number of assets, some of which may be surplus to community needs. Undertaking a review and possible rationalisation of assets will assist in reducing operational costs. Review of community expectations & service levels Council needs to ensure that it is providing services and infrastructure that meets community needs and is within the community’s ability to pay. Increasing state and federal funding Council needs to continue to aggressively pursue all avenues for State and Federal grants which may improve its position. This includes lobbying local members and government Ministers for additional funding. Increasing rates revenue To maintain services at their expected level, Council has considered an increase in rates is appropriate. This option considered community consultation and consideration of affordability.

Measuring Performance

Council will continue to report on and monitor its financial performance based on standard financial indicators. These indicators include: • Operating Performance Ratio

• Own Source Operating Revenue Ratio

• Building and Infrastructure Asset Renewal

• Building and Infrastructure Backlog Ratio

• Asset Maintenance Ratio

• Debt Service Cover Ratio

• Real Operating Expenditure Ratio

• Cash Expense Cover Ratio

We will also ensure compliance with the accounting and reporting requirements of the Local Government Code of Accounting Practice, including annual auditing of accounts and provision of information to the community and the Office of Local Government.

Quarterly reporting Performance in regard to Operational Plan budgets will be monitored and reported to Council each quarter. Reports will include budget variations and reviews. Annual Reporting Council will prepare annual reports to the community, in accordance with the requirements of the Local Government Act 1993 and the Integrated Planning and Reporting Guidelines. The report will include a summary of financial performance and achievements against delivering the outcomes of the Operational Plan and Delivery Program. Review of LTFP The Long Term Financial Plan will be reviewed annually, in conjunction with the review of the Operational Plan and Delivery Program and financial projections will be revised and updated.

Scenario Modelling

The Long Term Financial Plan is structured around two financial models or ‘scenarios’. Included is also a scenario outlining the General Fund result only for further information. The scenarios incorporate the Asset Management Plans for all asset classes. The first, known as the Scenario with SRV, is based on historical information up to 2014/15, the 2015/16 adopted budget and the 2016/17 adopted budget with trended forecasts projected out to 2025/26. The second scenario, known as the Scenario without SRV, models the effect of not implementing the 8.5%pa 4 year special rate variation.

The General Fund Only scenario forecasts the sustainability of Council without the effect of the Water Utility Service (water and sewer functions). The LTFP details the assumptions used when compiling each scenario as well as the financial outcomes over a 10 year period. It also identifies the major opportunities and risks associated with each scenario to provide an analysis of the sensitivity of the modelling to a variety of changes.

Scenario with SRV

The Scenario with the SRV uses 2012/13–2014/15 actual results, the adopted revised 2015/16 budget and the 2016/17 adopted budget to forecast a result over the 10 year planning period. It is assumed in this Scenario that Council undertakes additional operating changes to generate productivity improvements and efficiency gains without affecting service levels. The result presents a significantly improved financial position for Council with the operating position reaching surplus by 2025/26. Reserves will increase to provide an infrastructure renewal reserve in order to meet the required infrastructure renewal costs in future years. All financial indicators improve by the end of the planning period to the point where they fall within benchmarks. To achieve this result, strategies such as productivity improvements must be made across the scope of the planning period. It is assumed that a 2% annual efficiency gain is made for materials, contracts and other expenditure. Internal service reviews and subsequent levels of service community consultation it expect to identify suitable opportunities to make these savings a reality.

The Scenario assumes an underlying CPI index of 2.5% therefore the annual efficiency gain does not completely absorb the indexation. Lastly, an 8.5% annual rate increase including rate pegging is included for the period 2016/17 – 2019/20 to bring the operating result to surplus by the end of the planning period. Given the current freeze on Financial Assistance Grants the model assumes an indexation on grants of zero over the planning period. In sensitivity testing of assumptions, if the average annual rate increase following the SRV falls below 1.95% for the 6 year period then the operating result will be in deficit at the end of the planning period. This assumption will need to be monitored. The efficiency gain assumption of 2% per year would need to not be achieved for at least 5 years of the planning period for the operating result to be in deficit. Asset renewals are carried out at the required rate in accordance with our asset management plan’s replacement/renewal schedule. From 2023, additional funds allocated to an asset renewal reserve have been included in the Building and Asset Renewal Ration calculation to demonstrate that enough funds are generated to meet the benchmark.

-10000

NET OPERATING RESULT FOR THEYEAR BEFORE GRANTS &CONTRIBUTIONS FOR CAPITALPURPOSES

CASH & CASH EQUIVALENTS - endof year

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Notes Actual Actual Actual Budget Budget Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Income from Continuing Operations

Revenue: 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02

Rates & annual charges 9,816 10,177 10,486 13,637 13,613 14,770 16,025 17,387 17,874 18,375 18,889 19,418 19,962 20,521

User charges & fees 8,233 8,681 8,617 3,094 4,561 4,675 4,792 4,912 5,035 5,161 5,290 5,422 5,558 5,696

Interest & investment revenue 2,237 1,150 823 607 572 511 433 197 245 330 356 674 984 1,316

Other revenues 496 412 529 5,863 611 626 642 658 674 691 708 726 744 763

Grants & contributions for operating purposes 6,143 3,141 5,671 7,851 8,113 8,113 8,113 8,113 8,113 8,113 8,113 8,113 8,113 8,113

Grants & contributions for capital purposes 8,666 4,650 3,719 2,608 737 2,740 2,740 2,740 2,740 2,740 2,740 2,740 2,740 2,740

Other Income:

Net gains from disposal of assets 176 294 151 - - - - - - - - - - -

Net share of interests in joint ventures - - - - - - - - - - - - - -

TOTAL INCOME FROM CONTINUING OPERATIONS 35,767 28,505 29,996 33,660 28,206 31,435 32,745 34,006 34,681 35,409 36,096 37,093 38,101 39,149

Expenses from Continuing Operations 0.990 0.990 0.990 0.990 0.990 0.990 0.990 0.990 0.990

Employee benefits & costs 10,653 10,585 10,743 10,569 11,650 11,856 12,066 12,280 12,498 12,719 12,945 13,174 13,407 13,671

Borrowing costs 1,294 1,329 1,251 1,347 1,266 1,168 1,066 955 838 786 464 350 250 150

Materials & contracts 5,562 6,405 6,008 11,528 5,839 5,865 5,891 5,918 5,944 5,971 6,098 6,226 6,254 6,282

Depreciation & amortisation 7,681 7,590 7,614 8,335 6,546 6,784 7,518 8,672 9,314 9,936 10,734 11,126 11,467 11,819

Impairment - - - - - - - - - - - - - -

Other expenses 4,953 4,053 76,559 1,870 3,507 3,273 3,288 3,303 3,318 3,332 3,347 3,363 3,378 3,393

Net losses from disposal of assets - - - - - - - - - - - - - -

TOTAL EXPENSES FROM CONTINUING OPERATIONS 30,143 29,962 102,175 33,649 28,808 28,946 29,829 31,127 31,912 32,745 33,588 34,238 34,755 35,315

OPERATING RESULT FOR THE YEAR 5,624 (1,457) (72,179) 11 (602) 2,489 2,916 2,879 2,769 2,664 2,508 2,855 3,345 3,834

NET OPERATING RESULT FOR THE YEAR BEFORE GRANTS &

CONTRIBUTIONS FOR CAPITAL PURPOSES (3,042) (6,107) (75,898) (2,597) (1,339) (251) 176 139 29 (76) (232) 115 605 1,094

NET OPERATING RESULT FOR THE YEAR EXCLUDING

EXTRAORDINARY ITEMS BEFORE GRANTS &

CONTRIBUTIONS FOR CAPITAL PURPOSES (3,218) (6,401) (4,346) (2,597) (1,339) (251) 176 139 29 (76) (232) 115 605 1,094

Assumptions

Rate Increase (incl. 0.3% increase from growth) 2.40% 8.50% 8.50% 8.50% 8.50% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Employee Cost Index 3.00% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80% 3.00%

Grant Index 2.00% 0.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Inv estment Interest rate 2.50% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.50% 3.50% 3.50%

Ov erdue rates interest rate 7.50% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.50% 8.50% 8.50%

Efficiency gain on Materials, Contracts & Other Exp. -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00%

Asset Maintenance Increase ($ '000) 100 100

INCOME STATEMENT

Long Term Financial Plan - ALL FUNDS with SRV

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Notes Actual Actual Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Assets

Current Assets:

Cash & cash equivalents 16,920 12,195 13,114 16,025 15,756 13,156 5,265 6,874 9,705 10,593 12,982 16,839 16,315 15,502

Investments - - 1,288 1,288 1,288 1,288 1,288 1,288 1,288 1,288 6,288 11,288 21,288 31,288

Receivables 4,921 2,972 2,719 2,966 3,018 2,176 1,795 1,861 1,558 1,140 807 645 368 9

Inventories 516 381 406 416 427 437 448 459 471 483 495 507 520 533

Other 230 103 110 113 116 118 121 124 128 131 134 137 141 144

Non-current assets classified as 'held for sale' - - - - - - - - - - - - - -

TOTAL CURRENT ASSETS 22,587 15,651 17,637 20,808 20,604 17,176 8,918 10,607 13,149 13,634 20,706 29,416 38,632 47,476

Non-Current Assets:

Investments 3,872 6,311 5,105 5,105 - - - - - - - - - -

Receivables - - - - - - - - - - - - - -

Inventories - - - - - - - - - - - - - -

Infrastructure, property, plant & equipment 403,375 405,070 349,555 357,863 369,755 380,762 398,071 407,708 417,039 429,008 434,887 439,993 445,276 451,755

Investments accounted for using the equity method - - - - - - - - - - - - - -

Investment property 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213 2,213

Intangible assets - - - - - - - - - - - - - -

TOTAL NON-CURRENT ASSETS 409,460 413,594 356,873 365,181 371,968 382,975 400,284 409,921 419,252 431,221 437,100 442,206 447,489 453,968

TOTAL ASSETS 432,047 429,245 374,510 385,989 392,572 400,150 409,201 420,528 432,401 444,855 457,805 471,621 486,121 501,444

Liabilities

Current Liabilities:

Payables 3,044 2,644 3,756 3,756 3,850 3,946 4,045 4,146 4,250 4,356 4,465 4,576 4,691 4,808

Borrowings 956 1,043 1,937 1,379 1,500 1,624 1,758 977 520 322 250 200 150 100

Provisions 2,424 2,431 2,527 2,285 2,349 2,415 2,483 2,552 2,623 2,697 2,772 2,850 2,930 3,018

TOTAL CURRENT LIABILITIES 6,424 6,118 8,220 7,420 7,699 7,985 8,285 7,675 7,393 7,375 7,487 7,626 7,771 7,926

Non-Current Liabilities:

Payables - - - - - - - - - - - - - -

Borrowings 18,043 16,997 15,057 19,691 18,191 16,567 14,809 13,895 13,343 13,021 12,765 10,924 10,774 10,674

Provisions 1,582 1,540 1,534 1,504 1,490 1,465 1,448 1,425 1,406 1,385 1,365 1,344 1,324 1,304

TOTAL NON-CURRENT LIABILITIES 19,625 18,537 16,591 21,195 19,681 18,032 16,257 15,320 14,749 14,406 14,130 12,268 12,098 11,978

TOTAL LIABILITIES 26,049 24,655 24,811 28,615 27,380 26,017 24,542 22,995 22,142 21,781 21,617 19,895 19,869 19,904

NET ASSETS 405,998 404,590 349,699 357,374 365,192 374,133 384,659 397,532 410,259 423,074 436,188 451,727 466,252 481,540

Equity

Retained earnings 286,516 282,607 210,428 209,795 205,721 203,655 196,873 200,108 203,504 204,350 211,585 222,018 231,260 240,070

Revaluation reserves 119,482 121,983 139,271 147,579 159,471 170,478 187,787 197,424 206,755 218,724 224,603 229,709 234,992 241,471

Council equity interest 405,998 404,590 349,699 357,374 365,192 374,133 384,659 397,532 410,259 423,074 436,188 451,727 466,252 481,540

Non-controlling interest - - - - - - - - - - - - - -

TOTAL EQUITY 405,998 404,590 349,699 357,374 365,192 374,133 384,659 397,532 410,259 423,074 436,188 451,727 466,252 481,540

Assumptions

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

No impact forecast from rev aluation of assets

Long Term Financial Plan - ALL FUNDS with SRVSTATEMENT OF FINANCIAL POSITION

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Notes Actual Actual Actual Budget Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Cash Flows from Operating Activities

Receipts:

Investment & interest revenue received 1,046 684 647 360 519 511 433 197 245 330 356 674 984 1,316

Grants & contributions 9,101 6,671 8,111 10,459 8,850 10,853 10,853 10,853 10,853 10,853 10,853 10,853 10,853 10,853

Bonds, deposits & retention amounts received - 140 - - - - - - - - - - - -

Other 3,092 2,211 1,448 5,863 611 626 642 658 674 691 708 726 744 763

Payments:

Employee benefits & costs (10,668) (10,609) (10,754) (10,569) (11,650) (11,856) (12,066) (12,280) (12,498) (12,719) (12,945) (13,174) (13,407) (13,671)

Materials & contracts (4,622) (8,742) (5,720) (11,528) (5,839) (5,865) (5,891) (5,918) (5,944) (5,971) (6,098) (6,226) (6,254) (6,282)

Borrowing costs (849) (1,290) (1,253) (1,347) (1,266) (410) (324) (283) (239) (209) (188) (168) (152) (38)

Bonds, deposits & retention amounts refunded (436) - (65) - - - - - - - - - - -

Other (7,305) (3,880) (5,094) (1,870) (3,507) (3,273) (3,288) (3,303) (3,318) (3,332) (3,347) (3,363) (3,378) (3,393)

NET CASH PROVIDED (OR USED IN) OPERATING ACTIVITIES 6,477 5,927 6,939 8,099 5,893 10,031 11,176 12,223 12,682 13,179 13,518 14,162 14,910 15,765

Cash Flows from Investing Activities

Receipts:

Sale of investment securities 6,576 1,000 1,397 - 5,105 - - - - - - - - -

Sale of infrastructure, property, plant & equipment 552 771 427 - - - - - - - - - - -

Deferred debtors receipts - - - - - - - - - - - - - -

Other investing activity receipts 144 - - - - - - - - - - - - -

Payments:

Purchase of investment securities - (2,983) (1,288) - - - - - - - (5,000) (5,000) (10,000) (10,000)

Purchase of infrastructure, property, plant & equipment (17,595) (8,481) (5,511) (8,308) (11,892) (11,007) (17,309) (9,638) (9,331) (11,968) (5,879) (5,106) (5,284) (6,478)

Deferred debtors & advances made - - - - - - - - - - - - - -

NET CASH PROVIDED (OR USED IN) INVESTING ACTIVITIES (10,323) (9,693) (4,975) (8,308) (6,787) (11,007) (17,309) (9,638) (9,331) (11,968) (10,879) (10,106) (15,284) (16,478)

Cash Flows from Financing Activities

Receipts:

Proceeds from borrowings & advances 5,000 - - 4,500 2,125 - - - - - - - - -

Payments:

Repayment of borrowings & advances (859) (959) (1,046) (1,379) (1,500) (1,624) (1,758) (977) (520) (322) (250) (200) (150) (100)

Repayment of finance lease liabilities (167) - - - - - - - - - - - - -

NET CASH PROVIDED (OR USED IN) FINANCING ACTIVITIES 3,974 (959) (1,046) 3,121 625 (1,624) (1,758) (977) (520) (322) (250) (200) (150) (100)

NET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTS 128 (4,725) 918 2,912 (269) (2,599) (7,891) 1,608 2,831 888 2,389 3,856 (523) (813)

plus: CASH & CASH EQUIVALENTS - beginning of year 16,792 16,920 12,195 13,113 16,025 15,756 13,156 5,265 6,874 9,705 10,593 12,982 16,839 16,315

CASH & CASH EQUIVALENTS - end of year 16,920 12,195 13,113 16,025 15,756 13,156 5,265 6,874 9,705 10,593 12,982 16,839 16,315 15,502

Assumptions

Rates & charges recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Debtor recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Inv estment Interest rate 0.00% 2.50% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.50% 3.50% 3.50%

Ov erdue rates interest rate 0.00% 7.50% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.50% 8.50% 8.50%

Long Term Financial Plan - ALL FUNDS with SRVSTATEMENT OF CASH FLOWS

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Actual Actual Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Operating Performance Ratio

This ratio measures Council's ability to contain operating

expenditure within operating revenue 0.00% -13.48% -26.83% -17.49% -8.36% -4.87% -0.88% 0.59% 0.44% 0.09% -0.23% -0.70% 0.33% 1.71% 3.00%

Benchmark - Greater than 0%

(operat ing revenue excl. capital grants and contribut ions -

operat ing expenses) / operat ing revenue excluding capital

grants and contribut ions

Own Source Operating Revenue incl. FAGs 2795 2901 2885 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827

This ratio measures the level of Council's fiscal flexibility. It is the

degree of reliance on external funding sources such as operating

grants and contributions. Council's financial flexibility improves

the higher the level of its own source revenue 60% 66.41% 82.85% 78.31% 77.33% 78.65% 74.47% 75.49% 76.40% 76.86% 77.33% 77.77% 78.36% 78.94% 79.50%

operat ing revenue excl. grants and contribut ions (except

FAGs) / operat ing revenue incl. all grants and contribut ions

Own Source Operating Revenue excl. FAGs 0 0 0 0 0 0 0 0 0 0 0 0 0 0

operat ing revenue excl. all grants and contribut ions /

operat ing revenue incl. all grants and contribut ions

Building and Asset Renewal Ratio 14955.75 7208.85 4684.35 7061.8 10108.2 $4,993.95 $16,296.24 $5,984.71 $4,747.98 $4,165.63 $8,976.24 $9,703.30 $14,880.93 $16,075.61

This ratio indicates the extent to which Council is forecasting to

meet its consumption level on assets by renewing or replacing

assets 1.00 195% 95% 62% 85% 154% 74% 217% 69% 51% 42% 84% 87% 130% 136%

Benchmark - Greater than 100% - av erage ov er 3 years

asset renewals (building and infrast ructure) / Depreciat ion,

amort isat ion and impairment (building and infrast ructure) *From 2018 asset renewals carried out in accordance with required renewals from AMP. Increase in renewals in future years to be funded with reserve transfers of surplus funds in 2023-2026.

197350 189,760 182,146 173,811 167,265 160,481 152,963 144,291 134,977 125,041 114,306 103,180 91,714 79,895

Infrastructure Backlog Ratio 20450 $16,689.00 $8,123.00 $6,742.19 $3,013.61 $2,013.61 $1,013.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00This ratio shows what proportion the backlog is against total value

of infrastructure 0.02 10% 8% 5% 4% 1% 1% 0% 0% 0% 0% 0% 0% 0% 0%

Benchmark - Less than 2%

Est imated cost to bring to sat isfactory condit ion / Total (WDV)

of infrast ructure, buildings and other st ructures

Asset Maintenance Ratio

This ratio shows whether assets are maintained to the current

standard 1.00 35% 61% 98% 98% 98% 98% 98% 98% 98% 98% 100% 102% 102% 102%

Actual asset maintenance / Required asset maintenance

Debt Service Ratio

This ratio measures the ability to service debt including interest,

principal, and lease payments -0.01 9% 10% 9% 9% 10% 10% 9% 6% 4% 3% 2% 2% 1% 1%

Benchmark - Between 0% and 20%

Cost of debt service (interest expense & principal repayments)

/ Total cont inuing operat ing revenue (excl. capital grants &

contribut ions)

Real Operating Expenditure 16280 16422 16564 16730 16931 17134 17391 17652 18005 18365 18916 19483 20067 20669

This ratio shows the operating expenditure per capita 2.00 $1,852 $1,825 $6,168 $2,011 $1,701 $1,689 $1,715 $1,763 $1,772 $1,783 $1,776 $1,757 $1,732 $1,709

Benchmark - Decrease ov er time

Operat ing expenditure / Populat ion

Cash Expense Cover Ratio

This ratio indicates the number of months Council can continue

paying for its immediate expenses without additional cash inflow 3.00 8.15 5.74 6.58 7.20 7.96 6.86 2.71 3.62 5.17 5.64 6.82 8.74 8.39 7.92

Benchmark - Greater than 3.0 months

(current year's cash and cash equivalents / (total expenses -

depreciat ion - interest costs) * 12

Long Term Financial Plan - ALL FUNDS with SRVFINANCIAL RATIOS

Scenario without SRV

The Scenario without the SRV uses an assumption for rate peg of 1.8% to 2020 then increases to 2.8% to 2026. The result presents a significantly deteriorated financial position from the first scenario with the operating position increasing the annual deficit to almost $7 million by 2026 and depleting cash reserves by 2019. The Operating Performance Ratio sees significant deterioration over the planning period. Due to the decreasing cash levels, capital renewals would need to cease creating significant risk of critical infrastructure failure.

It is unrealistic to expect $7 million in annual savings without impacting current service levels. Therefore not implementing the SRV would require a significant reduction in service levels, particularly in areas supporting infrastructure such as roads and community buildings seeing continued deterioration of these assets over the planning period. It is not feasible to continue operations under this scenario.

-20000

-15000

-10000

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Revenue: 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02

Interest & investment revenue 2,237 1,150 823 607 572 278 83 - - - - - - -

Other revenues 496 412 529 5,863 611 626 642 658 674 691 708 726 744 763

Other Income:

Borrowing costs 1,294 1,329 1,251 1,347 1,266 1,168 1,066 955 838 786 464 350 250 150

Impairment - - - - - - - - - - - - - -

Other expenses 4,953 4,053 76,559 1,870 3,507 3,273 3,288 3,303 3,318 3,332 3,347 3,363 3,378 3,393

OPERATING RESULT FOR THE YEAR 5,624 (1,457) (72,179) 11 (3,283) (1,387) (2,131) (3,173) (3,495) (3,854) (4,110) (4,158) (4,160) (4,191)

CONTRIBUTIONS FOR CAPITAL PURPOSES (3,042) (6,107) (75,898) (2,597) (4,020) (4,127) (4,871) (5,913) (6,235) (6,594) (6,850) (6,898) (6,900) (6,931)

CONTRIBUTIONS FOR CAPITAL PURPOSES (3,218) (6,401) (4,346) (2,597) (4,020) (4,127) (4,871) (5,913) (6,235) (6,594) (6,850) (6,898) (6,900) (6,931)

Assumptions

Rate Peg 2.40% 1.80% 1.80% 1.80% 1.80% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Grant Index 2.00% 0.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Efficiency gain on Materials & Contracts -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00%

Long Term Financial Plan - ALL FUNDS NO SRV ScenarioINCOME STATEMENT

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Assets

Current Assets:

Cash & cash equivalents 16,920 12,195 13,114 16,025 7,969 1,494 (5,051) (9,495) (12,927) (18,557) (17,785) (15,941) (13,970) (12,807)

Investments - - 1,288 1,288 1,288 1,288 - - - - - - - -

Receivables 4,921 2,972 2,719 2,966 3,019 2,176 1,795 1,862 1,558 1,140 807 645 368 10

Inventories 516 381 406 416 427 437 448 459 471 483 495 507 520 533

Other 230 103 110 113 116 118 121 124 128 131 134 137 141 144

TOTAL CURRENT ASSETS 22,587 15,651 17,637 20,808 12,817 5,513 (2,687) (7,049) (10,771) (16,803) (16,349) (14,651) (12,941) (12,120)

Non-Current Assets:

Investments 3,872 6,311 5,105 5,105 5,105 5,105 - - - - - - - -

Receivables - - - - - - - - - - - - - -

Inventories - - - - - - - - - - - - - -

TOTAL ASSETS 432,047 429,245 374,510 385,989 389,890 393,593 397,597 402,872 408,482 414,417 420,751 427,554 434,549 441,847

Liabilities

Payables 3,044 2,644 3,756 3,756 3,850 3,946 4,045 4,146 4,250 4,356 4,465 4,576 4,691 4,808

Borrowings 956 1,043 1,937 1,379 1,500 1,624 1,758 977 520 322 250 200 150 100

Provisions 2,424 2,431 2,527 2,285 2,349 2,415 2,483 2,552 2,623 2,697 2,772 2,850 2,930 3,018

Payables - - - - - - - - - - - - - -

Borrowings 18,043 16,997 15,057 19,691 18,191 16,567 14,809 13,895 13,343 13,021 12,765 10,924 10,774 10,674

Provisions 1,582 1,540 1,534 1,504 1,490 1,465 1,448 1,425 1,406 1,385 1,365 1,344 1,324 1,304

NET ASSETS 405,998 404,590 349,699 357,374 362,510 367,576 373,055 379,877 386,339 392,637 399,133 407,660 414,680 421,944

Equity

TOTAL EQUITY 405,998 404,590 349,699 357,374 362,510 367,576 373,055 379,877 386,339 392,637 399,133 407,660 414,680 421,944

Assumptions

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

No impact from rev aluation of assets

Long Term Financial Plan - ALL FUNDS NO SRV ScenarioSTATEMENT OF FINANCIAL POSITION

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Receipts:

Investment & interest revenue received 1,046 684 647 360 519 278 83 - - - - - - -

Other 3,092 2,211 1,448 5,863 611 626 642 658 674 691 708 726 744 763

Payments:

Borrowing costs (849) (1,290) (1,253) (1,347) (1,266) (410) (324) (283) (239) (209) (188) (168) (152) (38)

Other (7,305) (3,880) (5,094) (1,870) (3,507) (3,273) (3,288) (3,303) (3,318) (3,332) (3,347) (3,363) (3,378) (3,393)

NET CASH PROVIDED (OR USED IN) OPERATING ACTIVITIES 6,477 5,927 6,939 8,099 3,211 6,156 6,129 6,171 6,418 6,661 6,901 7,150 7,405 7,741

Receipts:

Sale of investment securities 6,576 1,000 1,397 - - - 6,393 - - - - - - -

Payments:

Purchase of investment securities - (2,983) (1,288) - - - - - - - - - - -

NET CASH PROVIDED (OR USED IN) INVESTING ACTIVITIES (10,323) (9,693) (4,975) (8,308) (11,892) (11,007) (10,916) (9,638) (9,331) (11,968) (5,879) (5,106) (5,284) (6,478)

Receipts:

Proceeds from borrowings & advances 5,000 - - 4,500 2,125 - - - - - - - - -

Payments:

Repayment of borrowings & advances (859) (959) (1,046) (1,379) (1,500) (1,624) (1,758) (977) (520) (322) (250) (200) (150) (100)

NET CASH PROVIDED (OR USED IN) FINANCING ACTIVITIES 3,974 (959) (1,046) 3,121 625 (1,624) (1,758) (977) (520) (322) (250) (200) (150) (100)

NET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTS 128 (4,725) 918 2,912 (8,056) (6,475) (6,545) (4,444) (3,433) (5,629) 772 1,844 1,971 1,163

plus: CASH & CASH EQUIVALENTS - beginning of year 16,792 16,920 12,195 13,113 16,025 7,969 1,494 (5,051) (9,495) (12,927) (18,557) (17,785) (15,941) (13,970)

CASH & CASH EQUIVALENTS - end of year 16,920 12,195 13,113 16,025 7,969 1,494 (5,051) (9,495) (12,927) (18,557) (17,785) (15,941) (13,970) (12,807)

Assumptions

Rates & charges recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Debtor recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Inv estment Interest rate 0.00% 2.50% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.50% 3.50% 3.50%

Ov erdue rates interest rate 0.00% 7.50% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.50% 8.50% 8.50%

Long Term Financial Plan - ALL FUNDS NO SRV ScenarioSTATEMENT OF CASH FLOWS

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

expenditure within operating revenue 0.00% -13.48% -26.83% -17.49% -8.36% -16.22% -16.63% -19.52% -23.45% -24.28% -25.21% -25.71% -25.42% -24.95% -24.59%

Own Source Operating Revenue incl. FAGs 2795 2901 2885 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827

Building and Asset Renewal Ratio 5128 6266 5000 5500 8000 $4,993.95 $16,296.24 $5,984.71 $4,747.98 $4,165.63 $3,976.24 $4,703.30 $4,880.93 $6,075.61

This ratio indicates the extent to which Council is forecasting to

meet its consumption level on assets by renewing or replacing

assets 1.00 67% 83% 66% 66% 122% 74% 217% 69% 51% 42% 37% 42% 43% 51%

amort isat ion and impairment (building and infrast ructure)

197350 189,760 182,146 173,811 167,265 160,481 152,963 144,291 134,977 125,041 114,306 103,180 91,714 79,895

Infrastructure Backlog Ratio $20,450.00 $16,689.00 $8,123.00 $6,742.19 $3,013.61 $2,013.61 $1,013.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00This ratio shows what proportion the backlog is against total value

standard 1.00 35% 61% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98% 98%

Debt Service Ratio

contribut ions)

This ratio shows the operating expenditure per capita 2.00 $1,852 $1,825 $6,168 $2,011 $1,701 $1,689 $1,715 $1,763 $1,772 $1,783 $1,770 $1,747 $1,722 $1,699

paying for its immediate expenses without additional cash inflow 3.00 8.15 5.74 6.58 7.20 4.02 0.78 -2.60 -5.01 -6.89 -9.87 -9.39 -8.34 -7.24 -6.60

Long Term Financial Plan - ALL FUNDS NO SRV ScenarioFINANCIAL RATIOS

Scenario for General Fund Only

The General Fund Scenario replicates the scenario with the SRV but excludes Water and Sewer funds. The result presents an improved financial position for Council’s General Fund with the operating position reaching surplus by 2019/20. All financial indicators improve by the end of the planning period to the point where they fall within benchmarks. As for the scenario with SRV strategies such as productivity improvements must be made across the scope of the planning period.

It is assumed that a 2% annual efficiency gain is made for materials, contracts and other expenditure. As with the consolidated (all funds) scenario, internal service reviews and levels of service consultation will form the drivers of the productivity gains. The Scenario assumes an underlying CPI index of 2.5% therefore the annual efficiency gain does not completely absorb the indexation. This scenario is subject to the same sensitivities as the Scenario with SRV.

-10000

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Revenue: 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02 1.02

Interest & investment revenue 1,995 999 703 538 504 129 143 129 145 243 374 605 779 945

Other revenues 1,058 995 1,099 6,332 1,286 1,318 1,351 1,385 1,419 1,455 1,491 1,528 1,567 1,606

Other Income:

Borrowing costs 352 338 308 215 159 125 91 54 15 - - - - -

Impairment - - - - - - - - - - - - - -

Other expenses 4,902 4,053 76,559 1,870 3,131 2,895 2,908 2,921 2,934 2,947 2,961 2,974 2,987 3,001

OPERATING RESULT FOR THE YEAR 6,220 (1,348) (72,527) (2,891) (449) 1,413 1,911 2,342 2,139 2,129 2,093 2,182 2,303 2,383

CONTRIBUTIONS FOR CAPITAL PURPOSES (1,842) (5,464) (75,107) (4,749) (1,019) (539) (42) 390 187 177 141 230 351 431

CONTRIBUTIONS FOR CAPITAL PURPOSES (2,018) (5,758) (3,555) (4,749) (1,019) (539) (42) 390 187 177 141 230 351 431

Assumptions

Rate Increase (incl. 0.3% increase from growth) 2.40% 8.50% 8.50% 8.50% 8.50% 2.80% 2.80% 2.80% 2.80% 2.80% 2.80%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Grant Index 2.00% 0.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Efficiency gain on Materials, Contracts & Other Exp. -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00% -2.00%

Asset Maintenance Increase ($ '000) 100 100

*Other Rev enue includes interfund contributions

Long Term Financial Plan - GENERAL FUND ONLYINCOME STATEMENT

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Assets

Current Assets:

Cash & cash equivalents 12900 13,159 8,915 9,661 2,319 3,015 3,477 3,007 3,560 6,825 11,165 11,003 10,969 10,722 10,238

Investments - - 1,288 1,288 1,288 1,288 1,288 1,288 1,288 1,288 6,288 11,288 16,288 21,288

Receivables 4,161 2,220 2,082 2,346 2,742 1,897 1,626 1,839 1,666 1,381 1,130 1,116 964 722

Inventories 483 354 369 378 388 397 407 417 428 439 450 461 472 484

Other 230 103 110 113 116 118 121 124 128 131 134 137 141 144

TOTAL CURRENT ASSETS 18,033 11,592 13,510 6,444 7,549 7,178 6,449 7,229 10,335 14,403 19,005 23,972 28,587 32,876

Non-Current Assets:

Investments 3,060 6,311 5,105 5,105 - - - - - - - - - -

Receivables - - - - - - - - - - - - - -

Inventories - - - - - - - - - - - - - -

TOTAL ASSETS 371,130 366,305 310,025 307,395 311,523 316,511 322,944 330,912 339,283 347,898 356,835 366,406 376,285 386,619

Liabilities

Payables 2,670 2,284 3,422 3,422 3,508 3,595 3,685 3,777 3,872 3,968 4,068 4,169 4,274 4,380

Borrowings 454 481 1,310 540 574 608 645 507 - - - - - -

Provisions 2,196 2,215 2,283 2,082 2,145 2,209 2,275 2,343 2,414 2,486 2,561 2,638 2,717 2,798

Payables - - - - - - - - - - - - - -

Borrowings 4,666 4,185 2,875 2,335 1,761 1,153 508 64 - - - - - -

Provisions 1,582 1,540 1,534 1,504 1,490 1,465 1,448 1,425 1,406 1,385 1,365 1,344 1,324 1,304

NET ASSETS 359,562 355,600 298,601 297,512 302,046 307,481 314,383 322,795 331,591 340,058 348,841 358,255 367,970 378,136

Equity

TOTAL EQUITY 359,562 355,600 298,601 297,512 302,046 307,481 314,383 322,795 331,591 340,058 348,841 358,255 367,970 378,136

Assumptions

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

No impact from rev aluation of assets

Long Term Financial Plan - GENERAL FUND ONLYSTATEMENT OF FINANCIAL POSITION

$ '000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Receipts:

Rates & annual charges 6200 6,918 7,185 7,412 9,258 10,338 11,217 12,171 13,205 13,575 13,955 14,346 14,747 15,160 15,585

Investment & interest revenue received 258 263 178 274 108 129 143 129 145 243 374 605 779 945

Other 1,058 995 1,099 6,332 1,286 1,318 1,351 1,385 1,419 1,455 1,491 1,528 1,567 1,606

Payments:

Borrowing costs (849) (1,290) (1,253) (215) (159) (410) (324) (283) (239) (209) (188) (168) (152) (38)

Other (7,305) (3,880) (5,094) (1,870) (3,131) (2,895) (2,908) (2,921) (2,934) (2,947) (2,961) (2,974) (2,987) (3,001)

NET CASH PROVIDED (OR USED IN) OPERATING ACTIVITIES 5,091 (1,757) 1,017 1,845 4,293 6,429 7,336 8,249 8,529 8,886 9,174 9,571 10,016 10,560

Receipts:

Sale of investment securities 6,576 1,000 1,397 - 5,105 - - - - - - - - -

Payments:

Purchase of investment securities - (2,983) (1,288) - - - - - - - (5,000) (5,000) (5,000) (5,000)

NET CASH PROVIDED (OR USED IN) INVESTING ACTIVITIES (678) (7,009) (4,975) (4,436) (3,023) (5,360) (7,161) (7,189) (5,265) (4,547) (9,335) (9,605) (10,264) (11,044)

Receipts:

Proceeds from borrowings & advances - - - - - - - - - - - - - -

Payments:

Repayment of borrowings & advances (859) (959) (1,046) (540) (574) (608) (645) (507) - - - - - -

NET CASH PROVIDED (OR USED IN) FINANCING ACTIVITIES (1,026) (959) (1,046) (540) (574) (608) (645) (507) - - - - - -

NET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTS 3,387 (9,725) (5,004) (3,131) 696 462 (470) 553 3,264 4,340 (161) (34) (248) (484)

plus: CASH & CASH EQUIVALENTS - beginning of year 16,792 20,179 10,454 5,450 2,319 3,015 3,477 3,007 3,560 6,825 11,165 11,003 10,969 10,722

CASH & CASH EQUIVALENTS - end of year 20,179 10,454 5,450 2,319 3,015 3,477 3,007 3,560 6,825 11,165 11,003 10,969 10,722 10,238

Assumptions

Rates & charges recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Debtor recov ery rate 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

General Index 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%

Inv estment Interest rate 2.00% 2.00% 2.00% 2.50% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.50% 3.50% 3.50%

Ov erdue rates interest rate 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.50% 8.50% 8.50%

* Inv estments purchased in 2023, 24, 25 & 26 are to fund asset renewal requirements in future years - funds to be restricted

Long Term Financial Plan - GENERAL FUND ONLYSTATEMENT OF CASH FLOWS

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

expenditure within operating revenue 0.00% -10.75% -29.47% -17.30% -19.31% -4.42% -2.28% -0.17% 1.51% 0.71% 0.66% 0.51% 0.81% 1.21% 1.45%

Own Source Operating Revenue incl. FAGs FAG 2795 2901 2885 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827 2827

Building and Asset Renewal Ratio* 6757.5 4927.45 4684.35 3770.6 6908.8 $3,866.71 $5,758.07 $5,772.24 $4,732.18 $4,143.79 $3,932.00 $4,202.30 $4,860.89 $5,641.61This ratio indicates the extent to which Council is forecasting to

expand its asset base with capital expenditure spent on both new

assets and replacement and renewal of existing asseets 1.00 106% 79% 74% 75% 134% 73% 102% 94% 72% 59% 123% 122% 125% 130%

amort isat ion and impairment (building and infrast ructure) *From 2018 asset renewals carried out in accordance with required renewals from AMP. Increase in renewals in future years to be funded with reserve transfers of surplus funds in 2023-2026.

Acc Dep 141602 147,862 154,183 159,183 164,321 169,622 175,280 181,416 188,031 194,996 202,265 209,823 217,688 225,904

Infrastructure Backlog Ratio 16450 $11,589.00 $8,123.00 $6,742.19 $3,013.61 $2,013.61 $1,013.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00This ratio shows what proportion the backlog is against total value

standard 1.00 35% 64% 98% 98% 98% 98% 98% 98% 98% 98% 100% 102% 102% 102%

Debt Service Ratio

contribut ions)

This ratio shows the operating expenditure per capita #### $1,515 $1,522 $1,534 $1,754 $1,422 $1,412 $1,424 $1,443 $1,453 $1,458 $1,451 $1,443 $1,430 $1,419

paying for its immediate expenses without additional cash inflow 3.00 6.34 4.20 4.84 1.12 1.86 2.11 1.81 2.13 4.14 6.69 6.48 6.35 6.13 5.81

Long Term Financial Plan - GENERAL FUND ONLYFINANCIAL RATIOS

Conclusion

The scenario with the SRV is achievable, relatively affordable and significantly improves the financial position of Yass Valley Council, allowing Council to continue to meet the expectations of the community and maintain service levels. Changes to service level expectations can change the requirement to include all the rate increase however in the absence of community engagement relating to service expectations it has been assumed to maintain the current service levels. It is proposed that further community engagement be carried out to discuss service level expectations and affordability to maintain or provide additional services following the internal service review process.

Council must continue to develop strategies during the planning period to ensure the forecast efficiency gains and productivity improvements are realised and this will be monitored annually. Before considering the special rate variation, significant community consultation and application as per the Local Government Act 1993 was carried out. Yass Valley Council is committed to ensuring internal efficiencies are realised to demonstrate to the community that Council, as an organisation, is working effectively and efficiently to provide essential services to the residents and visitors to Yass Valley.

LONG TERM FINANCIAL PLAN 2016 2026 - Yass Valley Council · 2018-07-31 · Financial Plan are to:...

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