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Stonnington 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

Stonnington City (2018-2019)

$1,667.69

Similar Councils (2018-2019)

$1,670.64

All Councils (2018-2019)

$1,669.82

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 $1,608.26 $1,538.99 $1,524.82
2016-2017 $1,632.21 $1,564.95 $1,571.58
2017-2018 $1,652.48 $1,607.36 $1,625.06
2018-2019 $1,667.69 $1,670.64 $1,669.82
2019-2020 $1,720.89 $1,685.62 $1,708.62
2020-2021 $1,754.67 $1,717.82 $1,743.39
2021-2022 $1,788.98 $1,747.10 $1,780.84
2022-2023 $1,824.39 $1,781.49 $1,818.86

Stonnington City Council Says...

Council continues to have one of the lowest average residential rates and charges across metropolitan Melbourne. Council's budgeted rate increase is capped at 2.5 per cent. Council is delivering services in accordance with its long term plan.

Expenses per property assessment

Amount of council expenditure for each property

Stonnington City (2018-2019)

$2,523.22

Similar Councils (2018-2019)

$2,717.81

All Councils (2018-2019)

$3,322.88

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 $2,311.43 $2,472.81 $2,949.21
2016-2017 $2,338.30 $2,517.44 $3,076.54
2017-2018 $2,475.41 $2,605.13 $3,173.85
2018-2019 $2,523.22 $2,717.81 $3,322.88
2019-2020 $2,421.98 $2,728.93 $3,247.86
2020-2021 $2,436.60 $2,751.83 $3,248.25
2021-2022 $2,474.09 $2,776.95 $3,283.87
2022-2023 $2,525.66 $2,815.62 $3,335.79

Stonnington City Council Says...

Council is delivering quality services in accordance with its long term plan. The increase in this indicator compared to 2017/18 is primarily driven by an increase in annual operating expenditure on service delivery from $154.34 million in 2017/18 to $162.65 million in 2018/19.

Percentage of staff turnover

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

Stonnington City (2018-2019)

14.54%

Similar Councils (2018-2019)

13.45%

All Councils (2018-2019)

14.07%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 11.93% 11.26% 11.56%
2016-2017 14.43% 11.80% 12.10%
2017-2018 14.32% 11.94% 13.20%
2018-2019 14.54% 13.45% 14.07%
2019-2020 15.38% 10.97% 10.28%
2020-2021 15.38% 10.95% 10.09%
2021-2022 15.38% 11.10% 10.11%
2022-2023 15.38% 10.97% 10.03%

Stonnington City Council Says...

Based on Permanent staff only. 2018/19 result is slightly higher than the previous years. Turnover has been higher due to higher levels of permanent part time staff departures mainly in Community Facilities due to high numbers of part time staff members leaving for other commitments or opportunities. Forecast for subsequent years is based on the Financial Performance Indicator forecasts in the Adopted 2019/20 Budget.

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)

Stonnington City (2018-2019)

260.39%

Similar Councils (2018-2019)

271.25%

All Councils (2018-2019)

319.74%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 291.00% 224.65% 241.76%
2016-2017 321.42% 258.38% 293.07%
2017-2018 286.98% 277.19% 317.53%
2018-2019 260.39% 271.25% 319.74%
2019-2020 243.64% 228.63% 250.74%
2020-2021 205.28% 192.77% 227.10%
2021-2022 206.19% 188.71% 228.98%
2022-2023 260.59% 196.32% 236.93%

Stonnington City Council Says...

Council can comfortably meet all short term financial commitments and is in a sound financial position. Cash and investments will assist in funding the significant capital works programs planned in the years ahead.

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)

Stonnington City (2018-2019)

-36.38%

Similar Councils (2018-2019)

94.64%

All Councils (2018-2019)

94.27%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 95.97% 87.78% 95.85%
2016-2017 -196.58% 66.92% 96.18%
2017-2018 -49.61% 79.81% 101.05%
2018-2019 -36.38% 94.64% 94.27%
2019-2020 199.57% 115.30% 138.87%
2020-2021 162.31% 93.97% 123.19%
2021-2022 163.44% 87.76% 121.11%
2022-2023 209.50% 95.80% 125.13%

Stonnington City Council Says...

The 2018/19 actual result (and prior year results) do not include Council's significant holdings of Term Deposits with maturity over 90 days (which are classed as Financial Assets). These Term Deposits total $99.0 million in 2018/19. When included in the measure for 2018/19 the result is a very healthy 169.50%. Forecasts for 2019/20 onwards assume that all term deposits as having original maturities of less than 90 days and are therefore included in unrestricted cash. Council is forecast to be in a strong financial position in the years ahead.

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

Stonnington City (2018-2019)

139.50%

Similar Councils (2018-2019)

94.82%

All Councils (2018-2019)

86.80%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 149.50% 85.90% 76.33%
2016-2017 119.44% 91.75% 77.30%
2017-2018 135.15% 90.39% 78.86%
2018-2019 139.50% 94.82% 86.80%
2019-2020 128.49% 112.38% 100.63%
2020-2021 138.67% 106.78% 88.32%
2021-2022 114.83% 103.96% 86.34%
2022-2023 96.77% 97.82% 84.91%

Stonnington City Council Says...

The 2018/19 result and forecasts from 2019/20 onwards demonstrates Council's ongoing commitment to invest in the renewal of its existing community infrastructure.

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

Stonnington City (2018-2019)

23.25%

Similar Councils (2018-2019)

14.57%

All Councils (2018-2019)

16.44%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 11.46% 20.42% 22.66%
2016-2017 8.85% 18.25% 20.75%
2017-2018 6.99% 15.69% 18.05%
2018-2019 23.25% 14.57% 16.44%
2019-2020 34.22% 15.64% 18.18%
2020-2021 37.20% 16.18% 18.97%
2021-2022 31.01% 17.32% 18.12%
2022-2023 25.17% 15.97% 16.91%

Stonnington City Council Says...

The balance of Council borrowings at the end of 2018/19 was $26.0 million compared to $7.5 million at the end of 2017/18. New loan borrowings of $20 million were undertaken in 2018/19, with $17 million forecast for 2019/20 and $10 million for 2020/21 to assist in funding the development of major community infrastructure. This is consistent with Council's long term financial plan.

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

Stonnington City (2018-2019)

2.38%

Similar Councils (2018-2019)

2.35%

All Councils (2018-2019)

2.68%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 2.87% 3.37% 4.60%
2016-2017 2.66% 3.05% 3.62%
2017-2018 2.35% 2.97% 3.38%
2018-2019 2.38% 2.35% 2.68%
2019-2020 3.93% 3.22% 4.46%
2020-2021 5.84% 1.93% 2.54%
2021-2022 6.33% 4.25% 4.23%
2022-2023 6.11% 2.97% 2.88%

Stonnington City Council Says...

Loan borrowings of $1.5 million were repaid in 2018/19. New loans and associated repayments are forecast in 2019/20 and 2020/21 to assist in funding the development of major community infrastructure. This is consistent with Council's long term financial plan.

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

Stonnington City (2018-2019)

14.99%

Similar Councils (2018-2019)

10.49%

All Councils (2018-2019)

17.93%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 8.54% 16.36% 24.65%
2016-2017 7.06% 14.00% 22.64%
2017-2018 5.58% 12.16% 20.63%
2018-2019 14.99% 10.49% 17.93%
2019-2020 21.79% 12.84% 20.75%
2020-2021 23.21% 11.67% 19.58%
2021-2022 19.24% 13.56% 19.64%
2022-2023 16.21% 12.96% 18.92%

Stonnington City Council Says...

In 2018/19 new loan borrowings of $20 million were undertaken. Further loan borrowings of $17 million for 2019/20 and $10 million for 2020/21 are forecast to assist in funding the development of major community infrastructure. This is consistent with Council's long term financial plan.

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

Stonnington City (2018-2019)

18.14%

Similar Councils (2018-2019)

9.09%

All Councils (2018-2019)

4.24%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 14.02% 8.78% -1.22%
2016-2017 15.48% 12.63% 9.00%
2017-2018 13.26% 10.20% 4.80%
2018-2019 18.14% 9.09% 4.24%
2019-2020 14.73% 6.65% 0.50%
2020-2021 14.87% 7.75% 2.94%
2021-2022 14.88% 7.90% 3.32%
2022-2023 14.75% 8.31% 4.54%

Stonnington City Council Says...

The 2018/19 result is another strong result. The surplus assists in funding the annual capital works program which brings major community benefit. The forecast levels are expected to remain in a healthy range of between 14.7 per cent to 14.9 per cent.

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

Stonnington City (2018-2019)

56.27%

Similar Councils (2018-2019)

65.52%

All Councils (2018-2019)

59.45%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 61.56% 67.51% 63.99%
2016-2017 61.01% 65.08% 57.59%
2017-2018 60.26% 65.51% 59.55%
2018-2019 56.27% 65.52% 59.45%
2019-2020 63.05% 68.58% 64.05%
2020-2021 62.89% 68.43% 63.74%
2021-2022 63.08% 68.83% 64.23%
2022-2023 63.03% 68.90% 64.09%

Stonnington City Council Says...

The 2018/19 result is due to other revenue sources increasing at a slightly higher rate than rate revenue which is capped. However, rate revenue will continue to be a key source of funding for the delivery of high quality services and infrastructure to the community.

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

Stonnington City (2018-2019)

0.12%

Similar Councils (2018-2019)

0.21%

All Councils (2018-2019)

0.42%

Performance Trend

Reporting Period Stonnington City Similar Councils All Councils
2015-2016 0.16% 0.48% 0.53%
2016-2017 0.13% 0.24% 0.45%
2017-2018 0.13% 0.25% 0.46%
2018-2019 0.12% 0.21% 0.42%
2019-2020 0.12% 0.23% 0.42%
2020-2021 0.12% 0.23% 0.42%
2021-2022 0.13% 0.23% 0.43%
2022-2023 0.13% 0.23% 0.43%

Stonnington City Council Says...

This result illustrates the relatively low rating burden for the Stonnington community.