Council Agenda - Kangaroo Island Council - SA.Gov.au

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Item No 11.2 Report Title Finance Quarterly Report – June 2013 Council Meeting Date 10 July 2013 Author Title Senior Manager Department File Ref - Records Hours to compile 4.0 Strategic Plan Reference Purpose Executive Summary Recommendation Discussion Nicki Putland Finance Manager Andrew Cole, Finance General Manager Finance & Systems Department 7.2.5 – General Council Reports – Finance Department 3.1.13 Continual Improvement of “best practice” financial management. The purpose of this report is to provide Council with a quarterly financial snapshot as part of its reporting requirements under the Financial Departments new internal control process. This report highlights Council’s financial position from the perspective of Rates Collection, Held Assets and the Level of Doubtful Debts. That the report “Finance Quarterly Report – June 2013” be received for information. This report is being prepared under Strategic Objective 3.1.13, to provide continual improvement in “best practice” financial management and reporting. The following aspects of Council’s financial performance are presented with the specific goal of informing Council of a quarterly financial snapshot as part of its reporting requirements under the Financial Departments internal process control process. a) Rates Report The following table highlights the rate revenue received for the 2012/13 financial year, as at the 30 th of June 2013, as well as at the same time for the previous 2 years. RATES REPORT - COLLECTION OF RATE REVENUE AS AT 30/06/2013 2010/11 2011/12 2012/13 Previous Years Arrears (as at 30th June) $ 748,363 $ 757,413 $ 488,345 Rates Levied $ 7,245,153 $7,779,473 $ 7,992,257 Less: Rebates Granted $ 43,522 $ 47,557 $ 58,947 Rate Capping - 20% Rebate $ 131,052 $ 89,134 $ 61,748 Pensioner Concessions granted $ 108,725 $ 119,053 $ 115,190 Amounts Received $ 7,236,813 $7,599,074 $ 7,844,278 Total General Rates Remaining $ 756,703 $ 937,812 $ 636,324 Less: Postponed Rates** $ - $ - $ - Add: Rates in credit $ 67,025 $ 57,975 $ 60,865 Total Rates Remaining $ 823,728 $ 995,787 $ 697,188 Instalments Not Yet Due $ - $ - $ - Rates Outstanding $ 823,728 $ 995,787 $ 697,188 Rates Outstanding as a % of Arrears & Rates 10.30% 11.66% 8.22% Levied **Postponed Rates - Council policy allows certain eligible ratepayers to apply for a postponement of their rates. As permission has been granted for postponed of payment of these rates, they are excluded from the Rates Outstanding balance. Kangaroo Island Council – 10 July 2013 Agenda 32
) Funds Report The following report describes Council’s current Cash position and the current balance of Fixed Term Loans. FUNDS REPORT AS AT JUNE 2013. June 2011 June 2012 June 2013 Cash Position $ 86,376 $ 132,282 $ 355,592 Investment Account Balance $ 142,831 $ 219,765 $ 526,640 Loan Balance Outstanding $ 7,168,840 $ 7,998,575 $ 9,386,012 The cash position represents the operational cash position as at the end of last quarter. This balance is actively being managed to ensure that Council is able to meet its financial commitments. C) Significant Doubtful Debts This report highlights to Council any significant Doubtful Debt provisions currently held by Council. The status of these amounts is under regular review and any change in status will be referred to Council. Account Amount No Current Provisions $0 Balance as at 2011/12 Governance Considerations (relates to consistent management, cohesive policies, guidance, processes and decision-rights for a given area of responsibility) This report provides a regular financial picture for Council and satisfies Council’s Internal Control policies. Risk Management Considerations (identification, assessment, and prioritization of risks (defined as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities) The regular reporting of Council’s financial position provides Council with the information to monitor its financial performance. Economic Considerations (Assessment of likely financial implications of pursuing a course of action) Issues with the financial information presented above, such as rates arrears and the level of doubtful debts, are dealt with according to current financial procedures. Social Considerations (Assessment of likely impacts with the Community) Nil at this time. Environmental Considerations (Assessment of likely impacts on the environment) Nil at this time. Kangaroo Island Council – 10 July 2013 Agenda 33
Page 1 and 2: 10 JULY 2013 COUNCIL MEETING INDEX
Page 3 and 4: ATTACHMENTS BEHIND BLUE PAGE BEHIND
Page 5 and 6: 5.0 MAYOR’S REPORT Report Title M
Page 7 and 8: 6.0 QUESTIONS FROM THE GALLERY 7.0
Page 9 and 10: Item No 8.1.2 Report Title Council
Page 11 and 12: 8.2 QUESTIONS WITHOUT NOTICE 9.0 RE
Page 13 and 14: 20-06-13 Thu Jeff Ellison, Bill Spu
Page 15 and 16: Executive Summary The Visible Solar
Page 17 and 18: Item No 10.3 Report Title Council M
Page 19 and 20: z y x There are a significant numbe
Page 21 and 22: The cost option for this is estimat
Page 23 and 24: The prudential review process will
Page 25 and 26: Economic Considerations (Assessment
Page 27 and 28: Email 3 - J Hart - general comment
Page 29 and 30: It was determined that Council shou
Page 31 and 32: In Financial terms this presents as
Page 33: 5. ICT Developments Council’s IT
Page 37 and 38: Governance Considerations (relates
Page 39 and 40: Training and Development A. Council
Page 41 and 42: Grants 9. Emily Larcombe has been a
Page 43 and 44: Item No 13.2 Council Meeting Date 1
Page 47 and 48: Item No 13.4 Report Title Sponsorsh
Page 49 and 50: Of the 31 applications received, 28
Page 51 and 52: Figure 6: FWS Youth Services (Decem
Page 57 and 58: Item No 13.7 Report Title Community
Page 63 and 64: Item No 13.10 Report Title Council
Page 65 and 66: 14.0 DEVELOPMENT SERVICES REPORT It
Page 67 and 68: Mid/late August - documentation to
Page 69 and 70: 15.0 ASSET SERVICES REPORT Item No
Page 71 and 72: 28. Improvement Notices were issued
Page 73 and 74: Property - Amenity use (Halls) 57.
Page 75 and 76: Table 1.0 Non RPT Passenger and Gen
Page 77 and 78: Governance Considerations (relates
Page 79 and 80: 17.0 CORRESPONDENCE FOR DISCUSSION
Page 85 and 86:
19.0 NOTIFICATIONS & REPORT REQUEST
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Council Agenda - Kangaroo Island Council - SA.Gov.au

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