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Kingston City

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

Kingston City (2018-2019)

$2,496.74

Similar Councils (2018-2019)

$2,717.81

All Councils (2018-2019)

$3,322.88

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 $2,361.13 $2,472.81 $2,949.21
2016-2017 $2,343.03 $2,517.44 $3,076.54
2017-2018 $2,470.70 $2,605.13 $3,173.85
2018-2019 $2,496.74 $2,717.81 $3,322.88
2019-2020 $2,617.36 $2,728.93 $3,247.86
2020-2021 $2,670.15 $2,751.83 $3,248.25
2021-2022 $2,714.34 $2,776.95 $3,283.87
2022-2023 $2,762.40 $2,815.62 $3,335.79

Kingston City Council Says...

The 2018/19 result is in line with expectations and reflects the 3% increase in expenditure to $187 million and an increase in number of assessments.

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)

Kingston City (2018-2019)

351.16%

Similar Councils (2018-2019)

271.25%

All Councils (2018-2019)

319.74%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 284.73% 224.65% 241.76%
2016-2017 349.37% 258.38% 293.07%
2017-2018 361.25% 277.19% 317.53%
2018-2019 351.16% 271.25% 319.74%
2019-2020 203.59% 228.63% 250.74%
2020-2021 182.21% 192.77% 227.10%
2021-2022 180.08% 188.71% 228.98%
2022-2023 195.33% 196.32% 236.93%

Kingston City Council Says...

The 2018/19 result is in line with the prior year and reflects our level of cash holdings. The forecast years working capital Ratio is expected to fall into a range of 180% to 204%. Over the next four years Council's assured cashflows mean that Council is confident it can pay its debts as and when they fall due. The current state-wide average for inner metropolitan Melbourne councils is approximately 306%.

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)

Kingston City (2018-2019)

326.63%

Similar Councils (2018-2019)

94.64%

All Councils (2018-2019)

94.27%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 209.26% 87.78% 95.85%
2016-2017 321.73% 66.92% 96.18%
2017-2018 332.51% 79.81% 101.05%
2018-2019 326.63% 94.64% 94.27%
2019-2020 182.43% 115.30% 138.87%
2020-2021 159.19% 93.97% 123.19%
2021-2022 156.83% 87.76% 121.11%
2022-2023 172.20% 95.80% 125.13%

Kingston City Council Says...

The 2018/19 result is consistent with the prior year driven by consistent strong cash reserves. The outlook forecasts this trend to be in the range of 156% to 183% in the future.

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

Kingston City (2018-2019)

3.61%

Similar Councils (2018-2019)

14.57%

All Councils (2018-2019)

16.44%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 15.76% 20.42% 22.66%
2016-2017 14.50% 18.25% 20.75%
2017-2018 9.75% 15.69% 18.05%
2018-2019 3.61% 14.57% 16.44%
2019-2020 1.20% 15.64% 18.18%
2020-2021 0.23% 16.18% 18.97%
2021-2022 0.00% 17.32% 18.12%
2022-2023 0.00% 15.97% 16.91%

Kingston City Council Says...

The result for 2018/19 is better than expected as Council made an extra loan repayment during the year. The decreasing forecast trend reflects the scheduled repayment of external debt with Council expected to be debt free by July 2021

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

Kingston City (2018-2019)

5.76%

Similar Councils (2018-2019)

2.35%

All Councils (2018-2019)

2.68%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 3.97% 3.37% 4.60%
2016-2017 3.60% 3.05% 3.62%
2017-2018 4.64% 2.97% 3.38%
2018-2019 5.76% 2.35% 2.68%
2019-2020 2.56% 3.22% 4.46%
2020-2021 0.96% 1.93% 2.54%
2021-2022 0.23% 4.25% 4.23%
2022-2023 0.00% 2.97% 2.88%

Kingston City Council Says...

The result for 2018/19 is in line with expectations and the future years reflect the debt reduction strategy with the Long Term Financial Strategy.

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

Kingston City (2018-2019)

1.78%

Similar Councils (2018-2019)

10.49%

All Councils (2018-2019)

17.93%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 9.73% 16.36% 24.65%
2016-2017 9.65% 14.00% 22.64%
2017-2018 6.00% 12.16% 20.63%
2018-2019 1.78% 10.49% 17.93%
2019-2020 1.07% 12.84% 20.75%
2020-2021 0.87% 11.67% 19.58%
2021-2022 0.88% 13.56% 19.64%
2022-2023 0.89% 12.96% 18.92%

Kingston City Council Says...

The result for 2018/19 is in line with expectations and the future years reflect the debt reduction strategy with the Long Term Financial Strategy.

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

Kingston City (2018-2019)

16.44%

Similar Councils (2018-2019)

9.09%

All Councils (2018-2019)

4.24%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 19.77% 8.78% -1.22%
2016-2017 18.16% 12.63% 9.00%
2017-2018 15.52% 10.20% 4.80%
2018-2019 16.44% 9.09% 4.24%
2019-2020 8.80% 6.65% 0.50%
2020-2021 9.09% 7.75% 2.94%
2021-2022 8.71% 7.90% 3.32%
2022-2023 8.26% 8.31% 4.54%

Kingston City Council Says...

The better than expected result reflects strong revenue in supplementary rates and in operating grants in childcare and home care.

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

Kingston City (2018-2019)

63.23%

Similar Councils (2018-2019)

65.52%

All Councils (2018-2019)

59.45%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 59.45% 67.51% 63.99%
2016-2017 62.45% 65.08% 57.59%
2017-2018 62.16% 65.51% 59.55%
2018-2019 63.23% 65.52% 59.45%
2019-2020 68.56% 68.58% 64.05%
2020-2021 68.07% 68.43% 63.74%
2021-2022 68.31% 68.83% 64.23%
2022-2023 68.54% 68.90% 64.09%

Kingston City Council Says...

The 2018/19 result is consistent with preceding years and in line with expectations. The 2015/16 result was influenced by the one-off gain on sale of assets.

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

Kingston City (2018-2019)

0.21%

Similar Councils (2018-2019)

0.21%

All Councils (2018-2019)

0.42%

Performance Trend

Reporting Period Kingston City Similar Councils All Councils
2015-2016 0.29% 0.48% 0.53%
2016-2017 0.25% 0.24% 0.45%
2017-2018 0.25% 0.25% 0.46%
2018-2019 0.21% 0.21% 0.42%
2019-2020 0.22% 0.23% 0.42%
2020-2021 0.23% 0.23% 0.42%
2021-2022 0.23% 0.23% 0.43%
2022-2023 0.24% 0.23% 0.43%

Kingston City Council Says...

The 2018/19 result is in line with preceding years and reflects budget expectations. The forecast reflects the Long Term projections of rate revenue.