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Colac Otway Shire

Profile Performance

Provision of relevant information about the effectiveness of financial management in local government including efficiency, liquidity, obligations, operating position and stability

Expenses per property assessment

Amount of council expenditure for each property

Colac-Otway Shire (2020-2021)

$3,500.51

Similar Councils (2020-2021)

$3,692.18

All Councils (2020-2021)

$3,509.99

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 $3,279.64 $3,308.02 $3,173.85
2018-2019 $3,546.50 $3,542.34 $3,322.88
2019-2020 $3,609.44 $3,618.71 $3,402.81
2020-2021 $3,500.51 $3,692.18 $3,509.99
2021-2022 $3,395.64 $3,576.15 $3,428.50
2022-2023 $3,363.63 $3,531.97 $3,373.59
2023-2024 $3,414.90 $3,574.51 $3,409.38
2024-2025 $3,483.71 $3,643.64 $3,474.36

Colac-Otway Shire Council Says...

Average rate per property assessment

Amount of rates charged on average for each property. New indicator from July 2019. Please refer to retired indicators link for previous results.

Colac-Otway Shire (2020-2021)

$1,827.60

Similar Councils (2020-2021)

$1,804.01

All Councils (2020-2021)

$1,798.88

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 Service not provided 0 0
2018-2019 Service not provided 0 0
2019-2020 $1,811.10 $1,773.46 $1,774.72
2020-2021 $1,827.60 $1,804.01 $1,798.88
2021-2022 $1,865.52 $1,830.77 $1,801.50
2022-2023 $1,868.42 $1,877.61 $1,838.57
2023-2024 $1,879.88 $1,915.64 $1,872.67
2024-2025 $1,891.32 $1,952.51 $1,908.57

Colac-Otway Shire Council Says...

Current assets as a percentage of current liabilities

Value of current assets at the end of the year (i.e. assets that can easily be converted to cash within 12 months) divided by the value of current liabilities at the end of year (i.e. obligations due or payable by cash within the next 12 months)

Colac-Otway Shire (2020-2021)

189.73%

Similar Councils (2020-2021)

239.06%

All Councils (2020-2021)

240.07%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 254.66% 306.83% 317.53%
2018-2019 204.46% 310.29% 319.74%
2019-2020 178.40% 277.58% 291.35%
2020-2021 189.73% 239.06% 240.07%
2021-2022 145.12% 214.23% 220.98%
2022-2023 118.30% 210.39% 213.74%
2023-2024 77.93% 199.25% 207.11%
2024-2025 31.29% 180.71% 198.93%

Colac-Otway Shire Council Says...

Working capital is forecast to continually decrease over the coming years as increases in revenue are not sufficient to cover the increases in operating costs associated with delivering the current level of services. Council is reviewing its Revenue and Rating Plan and Long Term Financial Plan to address this concern.

Unrestricted cash as a percentage of current liabilities

Amount of cash at the end of the year which is free of restrictions divided by the value of current liabilities at the end of year (i.e. obligations due or payable by cash within the next 12 months)

Colac-Otway Shire (2020-2021)

93.11%

Similar Councils (2020-2021)

75.38%

All Councils (2020-2021)

61.81%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 9.42% 115.91% 101.05%
2018-2019 119.98% 88.99% 94.27%
2019-2020 104.93% 79.37% 88.99%
2020-2021 93.11% 75.38% 61.81%
2021-2022 97.96% 105.30% 99.39%
2022-2023 80.76% 98.01% 91.85%
2023-2024 40.65% 88.87% 86.88%
2024-2025 4.55% 79.61% 83.72%

Colac-Otway Shire Council Says...

This indicator has continued to reduce and is forecast to reduce further, primarily due to increases in revenue not being sufficient to cover the increases in operating costs associated with delivering the current level of services. The 2020/21 result has been impacted by increased expenditure/reduced revenue resulting from the COVID-19 pandemic and average rate increases below the rate cap (2019/20: 0.5% compared to 2.5% rate cap; 2020/21: 0.5% compared to 2.5% rate cap), which is insufficient to meet increasing costs. Council is reviewing its Revenue and Rating Plan and Long Term Financial Plan to address this concern.

Loans and borrowings as a percentage of rates

Value of interest bearing loans and borrowings at the end of the year divided by rates raised for the year

Colac-Otway Shire (2020-2021)

2.31%

Similar Councils (2020-2021)

18.19%

All Councils (2020-2021)

15.51%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 11.36% 19.16% 18.05%
2018-2019 8.92% 17.22% 16.44%
2019-2020 3.27% 18.73% 15.03%
2020-2021 2.31% 18.19% 15.51%
2021-2022 1.82% 23.30% 20.83%
2022-2023 0.00% 25.29% 22.15%
2023-2024 0.00% 25.14% 21.31%
2024-2025 0.00% 24.95% 20.47%

Colac-Otway Shire Council Says...

This indicator improved significantly in 2019/20 due to a $1m bond repayment, which was taken under the Local Government Funding Vehicle in 2014. No new debt is forecast.

Loans and borrowings repayments as a percentage of rates

Interest bearing loan and borrowing repayments for the year divided by rates raised for the year

Colac-Otway Shire (2020-2021)

1.06%

Similar Councils (2020-2021)

3.45%

All Councils (2020-2021)

2.47%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 2.79% 4.01% 3.38%
2018-2019 2.71% 3.11% 2.68%
2019-2020 5.74% 7.50% 4.73%
2020-2021 1.06% 3.45% 2.47%
2021-2022 0.55% 5.68% 4.44%
2022-2023 1.90% 3.28% 3.09%
2023-2024 0.00% 3.15% 2.88%
2024-2025 0.00% 3.12% 2.87%

Colac-Otway Shire Council Says...

This indicator improved significantly in 2019/20 due to a $1m bond repayment, which was taken under the Local Government Funding Vehicle in 2014. No new debt is forecast.

Non-current liabilities as a percentage of own source revenue

Value of non-current liabilities at the end of year (i.e. obligations not due or payable by cash within the next 12 months) divided by total revenue excluding government grants, contributions for capital works and the value of assets received from developers

Colac-Otway Shire (2020-2021)

16.12%

Similar Councils (2020-2021)

25.48%

All Councils (2020-2021)

19.90%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 30.33% 26.25% 20.63%
2018-2019 23.52% 22.53% 17.93%
2019-2020 27.14% 29.50% 21.38%
2020-2021 16.12% 25.48% 19.90%
2021-2022 23.56% 31.73% 24.87%
2022-2023 22.47% 33.03% 25.86%
2023-2024 21.26% 32.31% 24.78%
2024-2025 20.06% 30.24% 22.64%

Colac-Otway Shire Council Says...

Non-current liabilities reduced by $3.5m in 2020/21 due to an independent expert assessment of Council's obligations for future restoration of ten closed landfill sites reducing the expected cost of works required by $3.3m, which was recognised as revenue in 2020-21.

Asset renewal and asset upgrade as a percentage of depreciation

Expenditure on renewing existing assets or upgrading assets divided by the amount of depreciation on all assets. New indicator from July 2019. Please refer to retired indicators link for previous results.

Colac-Otway Shire (2020-2021)

97.61%

Similar Councils (2020-2021)

105.51%

All Councils (2020-2021)

109.84%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 Service not provided 0 0
2018-2019 Service not provided 0 0
2019-2020 108.81% 112.24% 115.25%
2020-2021 97.61% 105.51% 109.84%
2021-2022 150.99% 147.03% 160.74%
2022-2023 147.79% 123.09% 122.86%
2023-2024 149.87% 110.95% 111.11%
2024-2025 151.98% 115.16% 107.69%

Colac-Otway Shire Council Says...

This indicator significantly reduced in 2020/21 due to a reduced capital works program and a one-off reduction in renewal projects. This reduction in renewal expenditure has been reallocated to support the community in the recovery from the COVID-19 pandemic.

Adjusted underlying surplus (or deficit) as a percentage of underlying revenue

Surplus or deficit for the year excluding non-recurrent government grants received for capital purposes, contributions for capital works and the value of assets received from developers divided by total revenue excluding non-recurrent government grants received for capital purposes, contributions for capital works and the value of assets received from developers

Colac-Otway Shire (2020-2021)

7.60%

Similar Councils (2020-2021)

-0.40%

All Councils (2020-2021)

-1.09%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 0.97% 3.23% 4.80%
2018-2019 4.15% 1.94% 4.24%
2019-2020 -3.55% -1.73% -0.05%
2020-2021 7.60% -0.40% -1.09%
2021-2022 -2.10% -3.54% -2.91%
2022-2023 0.91% 0.52% 0.51%
2023-2024 0.35% 0.85% 0.92%
2024-2025 -0.62% 1.17% 0.86%

Colac-Otway Shire Council Says...

This indicator has improved in 2020/21 but is forecast to be in deficit by 2021-22, primarily due to increases in revenue not being sufficient to cover the increases in operating costs associated with delivering the current level of services. The 2020/21 result has improved by a reduction in the landfill restoration provision movement by $3.3m and recognised as revenue, which is due to an independent expert assessment of Council's obligations for future restoration of ten closed landfill sites reducing the expected cost of works required. The result has also reduced by $580,000 due to impairment of right of use assets relating to leased two-way radio equipment not able to be recovered from the supplier following voluntary liquidation. The 2020/21 result would have been 3.24% if this provision movement and impairment had not been recognised. Council is reviewing its Revenue and Rating Plan and Long Term Financial Plan to address this concern.

Rates as a percentage of adjusted underlying revenue

Rates raised for the year divided by total revenue excluding non-recurrent government grants received for capital purposes, contributions for capital works and the value of assets received from developers

Colac-Otway Shire (2020-2021)

53.83%

Similar Councils (2020-2021)

58.49%

All Councils (2020-2021)

61.81%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 58.51% 58.49% 59.55%
2018-2019 53.55% 57.22% 59.45%
2019-2020 58.39% 59.18% 61.87%
2020-2021 53.83% 58.49% 61.81%
2021-2022 62.97% 63.38% 64.54%
2022-2023 61.88% 62.48% 64.57%
2023-2024 61.72% 62.80% 64.87%
2024-2025 61.53% 62.59% 64.94%

Colac-Otway Shire Council Says...

This indicator has decreased due to a significant increase in adjusted underlying revenue in 2020/21. The 2020/21 figure includes a landfill restoration provision movement of $3.3m and recognised in adjusted underlying revenue.

Rates as a percentage of property values in municipality

Rates raised for the year divided by the total capital improved value (i.e. market value) of all rateable properties

Colac-Otway Shire (2020-2021)

0.44%

Similar Councils (2020-2021)

0.44%

All Councils (2020-2021)

0.39%

Performance Trend

Reporting Period Colac-Otway Shire Similar Councils All Councils
2017-2018 0.51% 0.51% 0.46%
2018-2019 0.46% 0.48% 0.42%
2019-2020 0.47% 0.45% 0.41%
2020-2021 0.44% 0.44% 0.39%
2021-2022 0.41% 0.42% 0.38%
2022-2023 0.42% 0.42% 0.38%
2023-2024 0.42% 0.42% 0.38%
2024-2025 0.43% 0.42% 0.38%

Colac-Otway Shire Council Says...

This indicator is forecast to continue to decrease as property values are expected to increase at a greater rate than rate revenue, which has been increasing below the rate cap (2019/20: 0.5% compared to 2.5% rate cap; 2020/21: 0.5% compared to 2.5% rate cap).