Statement of Cash Flows
The Statement of Cash Flows shows where Council ’ s cash came from and how it was spent throughout the year . This differs from the earlier reports as “ non-cash items ”, such as depreciation and donated assets , are excluded .
$’ 000 ’ s |
Opening Balance |
150,706 |
Plus Cash Received |
436,958 |
Less Cash Spent |
432,422 |
Cash Available at End of Year |
155,242 |
Cash available is used to invest and utilise for future outlays . Much of this is restricted for specific purposes , such as future infrastructure . Council ’ s cash is wisely invested in accordance with our investment policy , so the interest earned contributes to the funding of operational expenses .
Financial Sustainability Measures
The financial sustainability statement and the associated measures ( ratios ) provide evidence of Council ’ s ability to continue operating and provide an acceptable level of service and infrastructure to the community both now and into the future . Section 168 ( 5 ) of Local Government Regulation 2012 outlines the three relevant measures of financial sustainability that Council must report . In addition , the Department of Local Government , Community Recovery and Resilience sets target ranges for each of these measures .
As part of Council ’ s 2014-2019 Corporate Plan we aim to implement sustainable financial management . Council ’ s performance in these three key measures is an indication of whether we are delivering on this goal .
1 . Asset Sustainability Ratio
Indicates if Council is renewing or replacing existing infrastructure assets at the same rate that the assets are wearing out . The target for 2016 is a ratio of greater than 90 %. If the target ratio is not reached over the medium to long term , Council may face a reduction in the asset ’ s service levels and / or useful lives which would create a burden on future ratepayers .
160
Asset Sustainability Ratio Target range = > 90 %
140 120 100 80 60 40 20
82.68 % 76 . 63 %
55.99 % 52 . 38 % 49 . 58 % 50 . 45 % 44 . 67 % 46.18 % 43 . 23 % 43.19 %
16.62 %
0
2015 / 16 2016 / 17 2017 / 18 2018 / 19 2019 / 20 2020 / 21 2021 / 22 2022 / 23 2023 / 24 2024 / 25 2025 / 26
A higher proportion of new and upgrade projects , such as the Toowoomba City Library , Highfields Sports Park , and road projects relating to the Second Range Crossing have been undertaken this financial year . This has resulted in a lower amount of renewal projects
23