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Port Phillip City

Profile Performance

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

Average residential rate per residential property assessment

Amount of rates charged on average for each residential property

Port Phillip City (2018-2019)

$1,544.17

Similar Councils (2018-2019)

$1,670.64

All Councils (2018-2019)

$1,669.82

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 $1,434.05 $1,538.99 $1,524.82
2016-2017 $1,429.76 $1,564.95 $1,571.58
2017-2018 $1,502.47 $1,607.36 $1,625.06
2018-2019 $1,544.17 $1,670.64 $1,669.82
2019-2020 $1,583.07 $1,685.62 $1,708.62
2020-2021 $1,621.27 $1,717.82 $1,743.39
2021-2022 $1,661.01 $1,747.10 $1,780.84
2022-2023 $1,701.01 $1,781.49 $1,818.86

Port Phillip City Council Says...

Expenses per property assessment

Amount of council expenditure for each property

Port Phillip City (2018-2019)

$3,072.16

Similar Councils (2018-2019)

$2,717.81

All Councils (2018-2019)

$3,322.88

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 $2,619.67 $2,472.81 $2,949.21
2016-2017 $2,798.66 $2,517.44 $3,076.54
2017-2018 $3,006.31 $2,605.13 $3,173.85
2018-2019 $3,072.16 $2,717.81 $3,322.88
2019-2020 $3,013.82 $2,728.93 $3,247.86
2020-2021 $2,978.23 $2,751.83 $3,248.25
2021-2022 $2,952.00 $2,776.95 $3,283.87
2022-2023 $3,002.31 $2,815.62 $3,335.79

Port Phillip City Council Says...

Percentage of staff turnover

Number of staff resignations and terminations divided by the average number of staff employed for the year

Port Phillip City (2018-2019)

18.04%

Similar Councils (2018-2019)

13.45%

All Councils (2018-2019)

14.07%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 10.43% 11.26% 11.56%
2016-2017 10.00% 11.80% 12.10%
2017-2018 11.75% 11.94% 13.20%
2018-2019 18.04% 13.45% 14.07%
2019-2020 10.05% 10.97% 10.28%
2020-2021 10.01% 10.95% 10.09%
2021-2022 10.02% 11.10% 10.11%
2022-2023 10.07% 10.97% 10.03%

Port Phillip City Council Says...

Staff turnover has increased compared to previous years. One of the key reasons is that Melbourne has a very competitive labour market and City of Port Phillip staff are well regarded in their profession which makes them well placed for roles elsewhere. There was also a range of planned organisational change that occurred throughout the year, with one of the most significant being in our digital area as a result of our CX program. We are currently finalising a People and Culture strategy which outlines how we plan to invest in our people and support them to operate at the best of their ability and attract and retain talent. This will be a key focus in the 2019/20 financial year.

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)

Port Phillip City (2018-2019)

267.52%

Similar Councils (2018-2019)

271.25%

All Councils (2018-2019)

319.74%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 243.22% 224.65% 241.76%
2016-2017 231.65% 258.38% 293.07%
2017-2018 265.45% 277.19% 317.53%
2018-2019 267.52% 271.25% 319.74%
2019-2020 167.29% 228.63% 250.74%
2020-2021 142.91% 192.77% 227.10%
2021-2022 173.53% 188.71% 228.98%
2022-2023 182.34% 196.32% 236.93%

Port Phillip City Council Says...

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)

Port Phillip City (2018-2019)

-85.93%

Similar Councils (2018-2019)

94.64%

All Councils (2018-2019)

94.27%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 104.44% 87.78% 95.85%
2016-2017 -41.14% 66.92% 96.18%
2017-2018 -50.19% 79.81% 101.05%
2018-2019 -85.93% 94.64% 94.27%
2019-2020 36.61% 115.30% 138.87%
2020-2021 35.73% 93.97% 123.19%
2021-2022 50.66% 87.76% 121.11%
2022-2023 66.91% 95.80% 125.13%

Port Phillip City Council Says...

Councils unrestricted cash ratio has decreased to -85.93 due to funds being placed in long term investments, including current financial assets. This has seen Council achieve optimal investment returns as a result of strong cash management. Council has $86.26 million of cash and other financial assets (investments), $30.82 million of which is restricted, placing Council in a strong position to meet its financial obligations, as reflected in the working capital ratio. In future years Council expect this ratio to improve as more funds are held in shorter termed investments, and current liabilities decrease.

Asset renewal as a percentage of depreciation

Expenditure on renewing existing assets or replacing existing assets to their original capability divided by the amount of depreciation on all assets

Port Phillip City (2018-2019)

62.64%

Similar Councils (2018-2019)

94.82%

All Councils (2018-2019)

86.80%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 71.91% 85.90% 76.33%
2016-2017 91.98% 91.75% 77.30%
2017-2018 57.58% 90.39% 78.86%
2018-2019 62.64% 94.82% 86.80%
2019-2020 77.03% 112.38% 100.63%
2020-2021 75.95% 106.78% 88.32%
2021-2022 77.54% 103.96% 86.34%
2022-2023 84.09% 97.82% 84.91%

Port Phillip City Council Says...

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

Port Phillip City (2018-2019)

7.14%

Similar Councils (2018-2019)

14.57%

All Councils (2018-2019)

16.44%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 8.02% 20.42% 22.66%
2016-2017 7.47% 18.25% 20.75%
2017-2018 6.79% 15.69% 18.05%
2018-2019 7.14% 14.57% 16.44%
2019-2020 6.67% 15.64% 18.18%
2020-2021 6.39% 16.18% 18.97%
2021-2022 6.12% 17.32% 18.12%
2022-2023 5.86% 15.97% 16.91%

Port Phillip City Council Says...

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

Port Phillip City (2018-2019)

0.67%

Similar Councils (2018-2019)

2.35%

All Councils (2018-2019)

2.68%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 0.98% 3.37% 4.60%
2016-2017 0.92% 3.05% 3.62%
2017-2018 0.82% 2.97% 3.38%
2018-2019 0.67% 2.35% 2.68%
2019-2020 0.90% 3.22% 4.46%
2020-2021 0.86% 1.93% 2.54%
2021-2022 6.20% 4.25% 4.23%
2022-2023 0.87% 2.97% 2.88%

Port Phillip City Council Says...

This result has improved marignally from prior year due to a decline in repayment of finance lease liabilities as the leases have reached the end of their term. We expect ths ratio to increase in future years as new lease arrangements are entered into, and also the imapct of new accounting standard which will see additional leases recognised on the statement of financial position, as well as their borrowing costs.

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

Port Phillip City (2018-2019)

5.29%

Similar Councils (2018-2019)

10.49%

All Councils (2018-2019)

17.93%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 6.40% 16.36% 24.65%
2016-2017 5.85% 14.00% 22.64%
2017-2018 5.25% 12.16% 20.63%
2018-2019 5.29% 10.49% 17.93%
2019-2020 5.33% 12.84% 20.75%
2020-2021 1.70% 11.67% 19.58%
2021-2022 5.06% 13.56% 19.64%
2022-2023 4.92% 12.96% 18.92%

Port Phillip City Council Says...

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

Port Phillip City (2018-2019)

-3.37%

Similar Councils (2018-2019)

9.09%

All Councils (2018-2019)

4.24%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 1.03% 8.78% -1.22%
2016-2017 1.25% 12.63% 9.00%
2017-2018 -3.34% 10.20% 4.80%
2018-2019 -3.37% 9.09% 4.24%
2019-2020 -1.55% 6.65% 0.50%
2020-2021 1.34% 7.75% 2.94%
2021-2022 3.68% 7.90% 3.32%
2022-2023 4.01% 8.31% 4.54%

Port Phillip City Council Says...

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

Port Phillip City (2018-2019)

57.56%

Similar Councils (2018-2019)

65.52%

All Councils (2018-2019)

59.45%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 61.21% 67.51% 63.99%
2016-2017 58.67% 65.08% 57.59%
2017-2018 57.51% 65.51% 59.55%
2018-2019 57.56% 65.52% 59.45%
2019-2020 59.14% 68.58% 64.05%
2020-2021 59.62% 68.43% 63.74%
2021-2022 60.23% 68.83% 64.23%
2022-2023 60.54% 68.90% 64.09%

Port Phillip City Council Says...

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

Port Phillip City (2018-2019)

0.18%

Similar Councils (2018-2019)

0.21%

All Councils (2018-2019)

0.42%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2015-2016 0.23% 0.48% 0.53%
2016-2017 0.20% 0.24% 0.45%
2017-2018 0.20% 0.25% 0.46%
2018-2019 0.18% 0.21% 0.42%
2019-2020 0.17% 0.23% 0.42%
2020-2021 0.16% 0.23% 0.42%
2021-2022 0.15% 0.23% 0.43%
2022-2023 0.14% 0.23% 0.43%

Port Phillip City Council Says...

This result has shifted marginally as a result of the impact of significant increases in property values in certain areas of the municipality. This is expected to shift in future years as result of the 2019/20 valuation seeing a decline in values and an increase in the rate in the dollar.