{"id":136150,"date":"2016-02-25T02:00:26","date_gmt":"2016-02-24T16:00:26","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=136150"},"modified":"2020-10-22T11:56:21","modified_gmt":"2020-10-22T01:56:21","slug":"finances-good-but-cash-tight","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/02\/25\/finances-good-but-cash-tight\/","title":{"rendered":"Finances Good, But Cash Tight"},"content":{"rendered":"
\"\"<\/a>
An aerial view of the Gordonbrook Water Treatment Plant … progress payments to contractors have pushed one of the Council’s financial ratios a few percent out of whack for a week (Photo: SBRC)<\/figcaption><\/figure>\n
\"Keith<\/a>
Finance Portfolio chair Deputy Mayor Keith Campbell (Photo: SBRC)<\/figcaption><\/figure>\n

February 25, 2016<\/strong><\/p>\n

The South Burnett Regional Council is temporarily short of cash after paying contractors working on the water and wastewater plants $2.5 million in progress payments … at least, in theory.<\/p>\n

Finance Portfolio chair Cr Keith Campbell told Wednesday’s Council meeting the benchmark for holding cash to cover the Council’s Funded Long Term Liabilities was 60 per cent.<\/p>\n

But at the moment – because of the progress payments – the Council’s ratio was 4 per cent lower at 56 per cent.<\/p>\n

Cr Campbell said this was nothing to be particularly concerned about.<\/p>\n

With the discount date for third quarter rates payments looming on March 1, he expected the $6.5 million cash injection they would produce will restore the benchmark within a week.<\/p>\n

He said all other key financial ratios – cash, operating cash and working capital – were currently sitting between 10 per cent and 300 per cent above recommended benchmarks.<\/p>\n

* * *<\/strong><\/h2>\n

To date the Council has achieved 67 per cent of its projected annual revenues, and spent 55 per cent of its projected annual expenditure.<\/strong><\/p>\n

Employee costs are also within budget, Cr Campbell said.<\/p>\n

However expenditure on materials and services will be reviewed in the third quarter Operating Budget review.<\/p>\n

Cr Campbell also noted that actual year to date capital expenditure is $26.8 million.<\/p>\n

This is 47.4 per cent of the $56.5 million in the revised 2015-2016 capital expenditure budget.<\/p>\n

* * *<\/strong><\/h2>\n

The South Burnett Regional Council now manages $931 million in community assets.<\/strong><\/p>\n

The Council’s total debt is $62 million, which is made up of $10 million in current liabilities and $52 million in non-current liabilities ($40 million in loans, the remainder in provisions).<\/p>\n

This represents a debt-to-equity ratio of 6.6 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

The South Burnett Regional Council is temporarily short of cash after paying contractors working on the water and wastewater plants $2.5 million in progress payments … at least, in theory.<\/p>\n","protected":false},"author":3,"featured_media":124008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,3],"tags":[],"yoast_head":"\nFinances Good, But Cash Tight - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2016\/02\/25\/finances-good-but-cash-tight\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finances Good, But Cash Tight - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The South Burnett Regional Council is temporarily short of cash after paying contractors working on the water and wastewater plants $2.5 million in progress payments ... at least, in theory.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2016\/02\/25\/finances-good-but-cash-tight\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2016-02-24T16:00:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-22T01:56:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2015\/10\/201501015-gordonbrook1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"620\" \/>\n\t<meta property=\"og:image:height\" content=\"385\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dafyd Martindale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dafyd Martindale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2016\/02\/25\/finances-good-but-cash-tight\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2016\/02\/25\/finances-good-but-cash-tight\/\",\"name\":\"Finances Good, But Cash Tight - 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