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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 (2017-2018)

$1,502.47

Similar Councils (2017-2018)

$1,607.36

All Councils (2017-2018)

$1,625.06

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 $1,359.31 $1,462.32 $1,441.07
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 $1,582.81 $1,673.72 $1,672.93
2019-2020 $1,620.92 $1,700.34 $1,705.51
2020-2021 $1,660.95 $1,728.85 $1,734.12
2021-2022 $1,701.12 $1,758.58 $1,769.14

Port Phillip City Council Says...

Expenses per property assessment

Amount of council expenditure for each property

Port Phillip City (2017-2018)

$3,006.31

Similar Councils (2017-2018)

$2,605.13

All Councils (2017-2018)

$3,173.85

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 $2,623.49 $2,439.75 $2,980.68
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 $3,061.38 $2,666.37 $3,154.72
2019-2020 $3,044.03 $2,668.12 $3,153.11
2020-2021 $3,011.70 $2,699.75 $3,183.79
2021-2022 $2,987.97 $2,729.37 $3,230.64

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 (2017-2018)

11.75%

Similar Councils (2017-2018)

11.94%

All Councils (2017-2018)

13.20%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 9.95% 9.29% 10.61%
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 10.03% 11.11% 10.45%
2019-2020 10.03% 11.09% 10.03%
2020-2021 10.03% 11.47% 10.13%
2021-2022 10.03% 11.15% 10.06%

Port Phillip City Council Says...

This result is in line with our expectations of turnover in an organisation with over 840 employees.

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 (2017-2018)

265.45%

Similar Councils (2017-2018)

277.19%

All Councils (2017-2018)

317.53%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 220.88% 199.44% 231.21%
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 216.03% 221.57% 228.71%
2019-2020 167.29% 214.20% 230.20%
2020-2021 142.91% 203.52% 220.25%
2021-2022 173.53% 207.98% 231.92%

Port Phillip City Council Says...

Council can comfortably meet its short term financial commitments. The increased ratio is largely driven by cash and cash equivalents balances increasing by $10 million from the prior year. This is mainly due to the delivery of the 2017/18 capital works program not meeting forecasted expectations. In addition, the early receipt of the first instalment of the 2018/19 Victorian Grants Commission grant as well as increased rates revenue and developer contributions has increased cash holdings. In future years Council will continue to meet its short term commitments however the ratio is expected to decline as cash balances reduce as a result of increased capital works and operating projects.

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 (2017-2018)

-50.19%

Similar Councils (2017-2018)

79.81%

All Councils (2017-2018)

101.05%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 80.04% 81.19% 94.74%
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 92.61% 102.91% 115.71%
2019-2020 50.86% 98.95% 114.68%
2020-2021 46.40% 91.68% 108.08%
2021-2022 67.73% 96.15% 115.95%

Port Phillip City Council Says...

Council's unrestricted cash has decreased to -50.19 per cent due to an increase in funds being held in longer term investments, including current financial assets. Council has $84.74 million of cash and other financial assets (investments) with $19.56 million of this restricted placing Council in a strong position to meet its financial obligations which is reflected in the working capital ratio. Restricted cash has increased from prior year due to more funds required to be remitted for the fire services levy, higher funds required to fund carried over capital works, and additional funds held in reserve. In future years Council expects this ratio to improve as more funds are held in short term investments to meet the requirements to fund ongoing capital works.

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 (2017-2018)

57.58%

Similar Councils (2017-2018)

90.39%

All Councils (2017-2018)

78.86%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 73.23% 83.99% 75.09%
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 77.44% 106.33% 99.16%
2019-2020 77.03% 108.01% 86.51%
2020-2021 75.95% 100.23% 83.79%
2021-2022 77.54% 98.01% 79.93%

Port Phillip City Council Says...

Lower than expected spend on the 2017/18 capital works program in infrastructure, most notably buildings, roads and parks assets, during the financial year has resulted in a decrease in this ratio. Several significant projects have been deferred and will be completed in future years which will see an improvement in expenditure on asset renewal going forward.

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 (2017-2018)

6.79%

Similar Councils (2017-2018)

15.69%

All Councils (2017-2018)

18.05%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 8.47% 21.29% 25.09%
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 6.94% 16.74% 19.15%
2019-2020 6.67% 18.98% 20.82%
2020-2021 6.39% 20.14% 20.74%
2021-2022 6.12% 18.47% 18.87%

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 (2017-2018)

0.82%

Similar Councils (2017-2018)

2.97%

All Councils (2017-2018)

3.38%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 0.97% 5.82% 6.17%
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 0.90% 2.32% 2.94%
2019-2020 0.90% 3.31% 4.35%
2020-2021 0.86% 3.17% 3.06%
2021-2022 6.20% 4.22% 4.14%

Port Phillip City Council Says...

This result has improved from prior year as Council has continued to repay its loan liabilities reducing the balance outstanding, while rates income has increased. In addition during the financial year several vehicles subject to loans were considered to be impaired and their value written down, resulting in a reduction to the loan liability.

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 (2017-2018)

5.25%

Similar Councils (2017-2018)

12.16%

All Councils (2017-2018)

20.63%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 6.65% 16.40% 24.51%
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 5.49% 13.20% 20.15%
2019-2020 5.33% 14.64% 21.85%
2020-2021 1.70% 15.13% 20.65%
2021-2022 5.06% 14.26% 19.78%

Port Phillip City Council Says...

This result has improved from prior years due to a decline in non-current liabilities as a result of the repayment of loans over the financial year, coupled with growth across all revenue streams in particular user fees, contributions and other income- driven by the change in accounting treatment for subsidised leases.

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 (2017-2018)

-3.34%

Similar Councils (2017-2018)

10.20%

All Councils (2017-2018)

4.80%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 -0.64% 7.67% 5.35%
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 -4.58% 7.88% 0.29%
2019-2020 -1.55% 8.54% 3.27%
2020-2021 1.34% 9.15% 3.43%
2021-2022 3.68% 9.22% 3.55%

Port Phillip City Council Says...

As forecasted, this result has decreased from prior year primarily due to the one-off $8.85 million cash contribution the Victorian Pride Centre, and $2.6 million of operating costs for the Ferrars Street Community and Education Precinct works. Higher than anticipated revenue from user fees, grants and other income has kept the negative result to -3.36 per cent in comparison to the budgeted -9.28 per cent. We expect negative results in future years due to Councils investment in technology with improvement from 2020/21.

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 (2017-2018)

57.51%

Similar Councils (2017-2018)

65.51%

All Councils (2017-2018)

59.55%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 60.23% 66.34% 57.46%
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 59.26% 67.93% 64.31%
2019-2020 59.14% 68.25% 63.61%
2020-2021 59.62% 68.07% 64.12%
2021-2022 60.23% 68.39% 64.46%

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 (2017-2018)

0.20%

Similar Councils (2017-2018)

0.25%

All Councils (2017-2018)

0.46%

Performance Trend

Reporting Period Port Phillip City Similar Councils All Councils
2014-2015 0.22% 0.47% 0.51%
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 0.17% 0.21% 0.43%
2019-2020 0.17% 0.21% 0.44%
2020-2021 0.17% 0.21% 0.44%
2021-2022 0.17% 0.21% 0.44%

Port Phillip City Council Says...