Annual Report Summary 2011 - 2012 - City of Monash

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Financial SustainabilityCouncil’s overall FinancialPerformance has improvedconsiderably, with Council achievinga surplus of $8.8 million in 2011-12compared with a $7.2 million deficitthe previous year.Despite this surplus, Council doesrecognise a $12.3 million liability forthe payment of the Local AuthoritiesSuperannuation Fund unfundedliability.Monash Council had the lowest levels of rates amongst its neighbourswith a 6% increase in rates for the 2011-12 year. The table below showshow Monash compares based on the average rate (in dollar amounts) perassessment as compiled by the Municipal Association of Victoria.20001750150012501000750500250Average Rates Per Assessment 2011-120MonashWhitehorseGlen EiraKnoxStonningtonKingstonState AverageGreater DandenongBaysideManninghamBoroondaraBased on average rate per assessmentfor 2011-2012 - Source: MAVCouncil’s Balance Sheet is a representation of the overall state of Council’sfinancial position. In 2011-12 Council’s total equity, represented by total netassets, was $2.06 billion. With more than $2.0 billion in non-current assets(comprising Land, Buildings, Roads, Drains, Plant, Art, Library books andother infrastructure) and current assets of $57 million, Council’s overallfinancial position is very strong.Overall, Council continues to be in a sound financial position with a positiveworking capital ratio (1:1) demonstrating Council’s ability to meet its currentcommitments.18
As detailed in Note 44 of theFinancial Statements, Council’sfinancial ratios remain healthy.Over the three years:• Debt Servicing Costs as aproportion of Total Revenue havereduced slightly at 0.45%• Debt Servicing and RedemptionCosts as a proportion of RateRevenue have decreased from3.19% to 2.95%• Debt Exposure Costs as a proportionof Total Realisable Assets haveincreased from 4.11% to 5.4% dueto increased borrowings to fundmajor capital works• Working Capital Ratio hasdecreased from 104.29% to100.35%• Adjusted Working Capital Ratio has decreased from 217.08% to 212.89%YOUR RATES AT WORK 2011-2012Where your rates go per $100Aged, Disabled & Residential Care Services $15.65Garbage, Street & Public Facilities Cleaning* $14.12Building, Roads, Path & Drainage Maintenance* $13.06Recreation and Aquatic Centres $12.39Parks & Sports Ground Maintenance* $7.73Children, Youth and Families Services $7.61Libraries, Arts & Culture $6.33Engineering, Transport & Infrastructure Development $6.09Property, Insurance, Fire Protection & Interest $4.94Planning, Building, Economic & Urban Development $4.66Health, Local Law & School Crossings $4.59Governance & Administration $2.83*Costs include Plant & EquipmentAnnual Report Summary 2011-2012 19
Page 1 and 2: ANNUAL REPORT SUMMARY20112012Annual
Page 3 and 4: HighlightsEnvironmentalSustainabili
Page 5 and 6: CEO’s MessageCouncil has been bus
Page 7 and 8: Calendar of major events2011JULY•
Page 9 and 10: 1.2 Valuing the social and cultural
Page 11 and 12: • Some of the major employersincl
Page 13 and 14: to provide guidance for futuredevel
Page 15 and 16: • 55.67% of waste was divertedfro
Page 17: 5.2 Continuously developing the org

Annual Report Summary 2011 - 2012 - City of Monash

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