image
Financial Plan
2021-2031

image

image
1
TABLE OF CONTENTS
1 I
NTRODUCTION
.................................................................................................................................... 2
1.1 Introduction ........................................................................................................................... 2
1.2 Purpose of the Financial Plan ..................................................................................................... 2
1.3 Regulatory Framework ............................................................................................................. 3
2 F
INANCIAL
P
LAN
C
ONTEXT
..................................................................................................................... 4
2.1 Strategic Integrated Planning Framework .................................................................................... 4
2.2 Community Vision ................................................................................................................... 5
2.3 Council Plan ........................................................................................................................... 6
2.4 Financial Plan Objectives .......................................................................................................... 6
2.5 Strategic Financial Direction ...................................................................................................... 7
2.6 Financial Policy Statements ....................................................................................................... 8
2.7 Strategic Actions ................................................................................................................... 10
2.8 Assumptions to the Financial Plan Statements ............................................................................ 12
3 F
INANCIAL
P
LAN
S
TATEMENTS
.............................................................................................................. 13
3.1 Comprehensive Income Statement ........................................................................................... 13
3.2 Balance Sheet ...................................................................................................................... 13
3.3 Statement of Changes in Equity ............................................................................................... 13
3.4 Statement of Cash Flows ........................................................................................................ 14
3.5 Statement of Capital Works .................................................................................................... 14
3.6 Statement of Human Resources ............................................................................................... 14
3.7 Summary of Planned Human Resources Expenditure ................................................................... 15
4 F
INANCIAL
P
ERFORMANCE
IN
DICATORS
.................................................................................................. 17
4.1 Key Financial Indicators ......................................................................................................... 17
4.2 VAGO Indicators ................................................................................................................... 17
4.3 Analysis of Financial Indicators ................................................................................................ 18
5 S
TRATEGIES AND
P
LANS
...................................................................................................................... 19
5.1 Rates and Charges ................................................................................................................ 19
5.1.1
Rate Capping ...................................................................................... 19
5.1.2
Rating Structure .................................................................................. 19
5.1.3
Rates and Charges .............................................................................. 20
5.1.4
Municipal Charge ................................................................................. 21
5.1.5
Public Amenities Cleansing Levy ............................................................. 21
5.1.6
Environmental Service Charge ............................................................... 21
5.1.7
Green Waste Service Charge ................................................................. 21
5.1.8
Budgeted Service Charges .................................................................... 21
5.1.9
Pensioner Rebate ................................................................................ 21
5.2 Borrowing Strategy ............................................................................................................... 22
5.2.1
Borrowing Assessment ......................................................................... 22
5.2.2
Current Debt Position ........................................................................... 22
5.2.3
Future Borrowing Requirements ............................................................. 22
5.3 Reserves Strategy ................................................................................................................. 24
5.3.1
Current Reserves................................................................................. 24
5.3.2
Reserve Usage Projections .................................................................... 24
5.4 Asset Management ................................................................................................................ 25
5.4.1
Infrastructure Assets ............................................................................ 25
5.4.2
Renewal Gap ...................................................................................... 26
5.5 Service Provision and Planning ................................................................................................ 27
5.5.1
Operating Expenditure/Revenue ............................................................. 27
5.6 Growth of Council ................................................................................................................. 27
5.6.1
Population .......................................................................................... 27
5.6.2
Private Dwellings ................................................................................. 29
5.6.3
COVID-19 .......................................................................................... 29

image
2
1 INTRODUCTION
1.1 I
NTRODUCTION
The Financial Plan 2021-2031 (FP) reflects Council’s ongoing priority to make Brimbank a truly
diverse community in the heart of the west and a place where people can enjoy living, working and
growing. The next ten year’s are exciting times for our community but it’s not without its
challenges as well.
Council will continue to focus on improving and enhancing our city, investing in ongoing capital
works projects and upgrading facilities and open spaces to ensure the best possible quality of life
for all residents including completing building works and commission of the new St Albans Health
and Wellbeing Hub.
Through Transforming Brimbank Future Priorities 2050, Council is also committed to growing
Brimbank into powerhouse of Melbourne’s west. The Melbourne Airport Rail and Sunshine Super
Hub are transformational infrastructure projects which will generate unprecedented business,
employment, health, education and social opportunities for the region. Combined with the creation
of the Sunshine Priority Precinct and major private investment, Brimbank is being reimagined.
Council is committed to working collaboratively to leverage the coming investment to deliver
positive social, economic and environmental benefits for Brimbank and the surrounding regions.
The COVID-19 pandemic is one of the most serious issues facing our community and our City
today. The safety, health, wellbeing and economic welfare of our residents and staff continues to
remain Council’s top priority. Council will continue to support the recovery of the community
through Stage 2 of our Coronavirus (COVID-19) Response and Recovery Strategy to assist local
businesses, residents and visitors to overcome obstacles and build on strengths as we continue to
recover, rebuild and adjust to a ‘COVID normal’.
In 2020, Council adopted the Brimbank Climate Emergency Plan 2020-2025, which acknowledges
the 21st century as a period of climate emergency, and that this urgent crisis presents an
opportunity for positive social change. Under this Plan, Brimbank commits to lead the community
towards a target of zero net greenhouse gas emissions for Council operations by 2030, and for the
Brimbank municipality by 2040 through a number of actions and initiatives.
The FP outlines Council's objective of being financially sustainable in the short, medium and long
term to delver on future projects and address challenges, while upholding strong financial
management principles by ensuring revenue, expenses, assets, liabilities, investments and financial
transactions are managed in accordance with a Council's financial policies and strategic plans;
financial risks are monitored and managed prudently having regard to economic circumstances;
and financial policies and strategic plans are predictable in the financial impact on the municipal
community.
1.2 P
URPOSE OF THE
F
INANCIAL
P
LAN
The purpose of the FP is to guide future strategies and actions to ensure that Council continues to
operate in a sustainable manner.
The FP is designed as a ‘high-level’ summary document that outlines future planning of Council’s
financial outcomes, particularly in relation to key components such as rate levels, service levels to
the community, major infrastructure asset replacement and renewal, loan borrowings and cash
reserves.
The FP is driven by the content of a range of strategic documents prepared by Council including:
Brimbank Community Vision 2040
Brimbank Council Plan
Asset Management Plans (AMPs).

image
3
The FP and Council Plan is a guide for future action and encourages Council to consider the impact
t
hat decisions made today will have on Council’s long-term sustainability.
The FP has been developed to provide the following outcomes for Council:
Establish a prudent and sound financial framework, combining and integrating financial
strategies to achieve a planned outcome
Establish a financial framework against which Council’s strategies, policies and financial
performance can be measured against
Ensure that Council complies with sound financial management principles, as required by
the Victorian
Local Government Act 2020
(the Act)
Allow Council to meet the objectives of the Act to promote social, economic and
environmental viability and sustainability of the municipal district (Section 9 (2)(c)) and
maintaining the ongoing financial viability of Council (Section 9 (2)(g)).
The short to medium term objectives of Council’s FP are to:
Achieve a prudent balance between meeting the service needs of the community and
remaining financially sustainable for future generations
Progressively address the funding gap to increase capital expenditure through the life of the
FP and meet the asset renewal requirements as outlined in the AMPs
Ensure that rates, fees and charges are manageable and sustainable
Provide a stable level of rates structure in a rate cap environment
Loan borrowings are able to be serviced and maintained at a prudent level
Maintain a strong cash position and a positive liquidity ratio, ensuring Council remains
financially sustainable in the long term
Achieve an underlying operational surplus
Continue to pursue funding for strategic capital projects from the State Government and
Federal Government, and
Ensure decisions are made having regard to their financial effects on future generations.
The FP is a balanced plan that aims at imbedding the growth that has taken place; it is financially
responsible whilst maintaining services to the community and ensuring financial sustainability for
future generations.
The FP is a dynamic document and it is anticipated that it will be regularly updated as part of
Council’s annual strategic planning and annual budget process and as major changes occur.
1.3 R
EGULATORY
F
RAMEWORK
Council has a legislative requirement to comply with the financial management principles as
detailed under Section 101 of the Act.
1) The following are the financial management principles:
a) revenue, expenses, assets, liabilities, investments and financial transactions must be
managed in accordance with a Council's financial policies and strategic plans
b) financial risks must be monitored and managed prudently having regard to economic
circumstances
c) financial policies and strategic plans, including the Revenue and Rating Plan, must seek to
provide stability
and predictability in the financial impact on the municipal community
d
)
accounts and records that explain the financial operations and financial position of the Council must be
kept.
2) For the purposes of the financial management principles, financial risk includes any risk relating
to the following:
a) the financial viability of the Council
b) the management of current and future liabilities of the Council
c) the beneficial enterprises of the Council.

image
4
2 FINANCIAL PLAN CONTEXT
This section describes the context and external/internal environment and consideration in
d
etermining the 10 year financial projections and assumptions.
2.1 S
TRATEGIC
I
NTEGRATED
P
LANNING
F
RAMEWORK
The FP does not operate in isolation from Council’s strategic planning framework but rather
complements this work and acts as a resourcing tool to enable Council to achieve the objectives
outlined in the Community Vision 2040 and the Council Plan.
Council has an integrated planning approach that aligns our strategic, financial and operational
p
olicies, plans and strategies with the community’s aspirations for Brimbank both now and into the
future.
The integrated planning approach is based on the Community Vision 2040 vision and goals and how
these will be achieved according to the timeframe: short term (annual); medium term (four years);
and long term (10 to 20 years).
The Community Vision 2040 describes the community’s vision and priorities for the future and
establishes a shared basis for planning, service delivery and advocacy undertaken by Council,
service providers, community groups and community members. It provides a framework for the
development of the Council Plan and addressing community health and wellbeing priorities in
partnership with government and health sector organisations.
The Council Plan describes the outcomes Council aims to achieve during its term, the strategies
that will shape its program of work over the next four years and the resources required to achieve
the desired outcomes.
The FP and Annual Budget document the financial resources required to achieve the goals and
strategic objectives in the Council Plan.
The Municipal Strategic Statement provides a strategic vision for our future by setting out
objectives for prospective land use and development in Brimbank.
The Climate Emergency Plan’s principal purpose is to outline Council’s position statement on the
climate emergency, with the aim that this statement orientates social transformation, with Council
taking a municipal leadership role, while promoting action from, and collaboration with, all
quarters.
The Social Justice Charter outlines Council’s commitment is to social justice and human rights and
aims for all Brimbank residents, workers, and visitors to thrive socially and economically regardless
of personal circumstances or where they were born.
A range of policies, plans and strategies are developed, implemented and reviewed by Council on a
regular basis. These guide Council’s roles in planning for services and infrastructure, partnerships
and advocacy and are aligned with the goals and strategic objectives in the Council Plan.
Progress is communicated through the Annual Report.
The integrated planning approach provides a basis for reporting and measuring across all Council
activity on what has been achieved and progress towards meeting the vision for Brimbank.

image
5
The diagram below depicts Council’s strategic planning framework:
2.2 C
OMMUNITY
V
ISION
The Brimbank Community Vision 2040 describes the community’s vision and priorities for the next
20 years. It establishes a shared framework for the community and partner organisations to work
towards, under three themes:
People
Place
Prosperity
The framework is outlined below:

image
6
Council places its community first in everything it does. Under the additional theme of Performance,
C
ouncil measures the success of the strategic objectives within the three themes of the Community
Vision 2040. As an organisation, Council works in ways that demonstrate integrity and
transparency to provide a comprehensive picture of Council’s performance to the community. This
is achieved through quarterly Council Plan Progress Reports, the Brimbank Annual Report and
adherence to the 86 indicators in the Local Government Performance Reporting Framework.
The Community Vision 2040 will be reviewed in 2021, ensuring that it remains aligned with the
community’s aspirations. This provides the opportunity for the four year Council Plan to continue
working towards the aspirations voiced by the Brimbank community.
2.3 C
OUNCIL
P
LAN
Council and community planning is about envisioning and making choices that will shape the future.
The role of local government is not only one of leadership, but also planning, advocacy and
facilitating community participation.
The Council Plan describes the outcomes Council aims to achieve during its term, the strategies
that will shape its program of work over the next four years and the resources required to achieve
the desired outcomes.
Under the Act, a Council Plan must be prepared every four years after a general election, guided by
deliberative engagement and adopted by the 31 October in the year following.
The Act stipulates that the Council Plan is required to include:
The strategic direction of the Council
Strategic objectives for achieving the strategic direction
Strategies for achieving the objectives for a period of at least the next four financial years
Strategic indicators for monitoring the achievement of the objectives
A description of the Council’s initiatives and priorities for services, infrastructure and
amenity
Any other matters prescribed by the regulations.
2.4 F
INANCIAL
P
LAN
O
BJECTIVES
The key objective of the FP is financial sustainability in the medium to long term, while achieving
Council’s Strategic Objectives as specified in the Community Vision and the Council Plan.
The objectives of this FP are as follows (not prioritised):
The achievement of meeting the service needs of the community (both now and future) and
remaining financially sustainable for future generations;
Progressively addressing the funding gap and increase capital expenditure through the life of
the FP as outlined in the AMPs;
Ensuring that rates, fees and charges are manageable and sustainable;
Providing a stable level of rates structure;
Loan borrowings are able to be serviced and maintained at a prudent level;
Maintaining a strong cash position, ensuring Council remains financially sustainable in the
long term;
Maintain a positive liquidity ratio;
Achieving an underlying operational surplus;
Continuing to pursue funding for strategic capital projects from the State Government and
Federal Government; and
Ensuring decisions are made having regard to their financial effects on future generations.

image
7
In addition to the specific objectives outlined, it is also recognised that sound financial management
c
an be demonstrated in the diagram below, based on the hierarchy of needs approach:
2.5 S
TRATEGIC
F
INANCIAL
D
IRECTION
The FP establishes the strategic financial framework for Council to meet the funding and investment
challenges that lie ahead. It is prepared to ensure that the affordability of activities included in the
Council Plan are considered and budgeted for.
The biggest challenge facing Council will be to maintain services and manage growth at a level to
meet community expectations while rates, being Council’s main source of income, are capped in
line with the Victorian Government’s rate capping system.
Additionally, Council will annually review its borrowing strategy, AMPs, capital investment, capital
works program, the range and level of services provided and the revenue raised relative to user
fees and charges and grants.
Brimbank City Council faces a number of diverse and complex strategic challenges including:
Supporting the community through a COVID-19 recovery
Renewing and maintaining existing assets
Continuing to provide an appropriate range of services to a changing community
Maintaining a sound financial position
Addressing the need for capital expansion
Climate emergency.
The FP will assist in addressing these challenges by informing future planning. The other key
related issue is the risk and liability that Council and the community face if Council does not invest
in asset renewal at an adequate rate (with a minimum desired rate equal to Council’s annual
depreciation charge).
Long Term Sustainability
-
Defined levels of services
-
Infrastructure renewal/maintenance & replacement
-
Meeting the challenge of rate capping
Medium Term Sustainability
-
Underlying operating surplus
-
Determining levels of service to be provided
-
Reducing the asset renewal gap
Short Term Sustainability
-
Working capital
-
Cash liquidity
-
Debt levels
-
Minimum capital expenditure

image
8
The FP represents a comprehensive approach to document and integrate the various financial
s
trategies of Council. The development of the long-term financial projections represents the output
of several strategic areas that produce the financial direction of Council as shown in the diagram
below. Each of these elements is detailed in the FP.
2.6 F
INANCIAL
P
OLICY
S
TATEMENTS
This section defines the measures that demonstrates Council’s financial sustainability in order to
fund the aspirations of the Community Vision 2040 and the Council Plan.
Long Term
F
inancial
Planning
Investment
Strategy
Borrowing
Strategy
Debt
Strategy
Operationa
l Expenses
Grants &
Fees
Reserve
Funds
Capital
Works
Projects &
Funding
AMPs

image
9
Policy Statement Measure Target
Forecast
20/21
21/22 22/23 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31
Council achieves an
Underlying Surplus in the
Income Statement
excluding non-recurrent
grants, monetary
contributions and non
monetary assets. ($’000)
Adjusted Underlying
Surplus > $0
>$0 (5,977) (1,303) (5,701) 429 (1,829) (2,380) (1,172) (1,492) (1,794) (1,663) (1,457)
Council’s Liquidity Ratio is
equal to or greater than
1:1
Current
Assets/Current
Liabilities > 1
>1 1.75 1.20 1.10 1.07 0.83 0.75 0.72 0.67 0.63 0.63 0.63
Council’s Self-financing
Ratio is equal to or
greater than 10%.
Net Operating Cash
Flows /Underlying
Revenue => 10%
=>10% 27.53% 30.33% 23.98% 22.17% 22.40% 22.13% 22.11% 22.13% 22.04% 21.95% 21.84%
Council’s Debt Servicing
Ratio is equal to or below
5%
Borrowing Costs/Cash
Revenue =<5%
=<5% 0.85% 0.92% 0.99% 0.93% 0.97% 0.92% 0.66% 0.61% 0.60% 0.46% 0.34%
Council’s Debt
Commitment Ratio is
equal to or below 10%
Principle Repayments
and Borrowing Costs/
Rates =<10%
=<10% 4.86% 6.89% 7.30% 6.17% 6.87% 18.11% 7.83% 7.87% 8.35% 8.12% 5.93%
Council’s indebtedness
ratio is equal to or below
40%
Non-current Liabilities
/Own-source Revenue
=<40%
=<40% 41.50% 39.29% 38.24% 35.16% 26.95% 25.66% 24.67% 21.39% 19.84% 17.98% 15.99%
Council will achieve a
Renewal Gap ratio of 1
Renewal Expenditure
/Depreciation = 1
=1 0.72 0.62 0.53 0.55 0.54 0.36 0.32 0.32 0.50 0.32 0.49

image
10
2.7 S
TRATEGIC
A
CTIONS
The following table highlights the outcomes, strategies and key actions of the FP.
Details
Outcome
Strategy
Action
Financial
Sustainability
That Council is able to
meet current and future
expenditure as it falls
due and also have the
ability to absorb
foreseeable changes and
materialising risks
without significantly
changing revenue and
expenditure policies.
That Council achieve an
underlying surplus in the
Income Statement
excluding non-recurrent
grants, capital
contributions and non
monetary assets.
Council’s liquidity ratio
is equal to or greater
than 1:1.
That the cash position
be sufficient to fund
daily cash requirements
as well as provide
opportunities for funding
of new acquisitions and
short term
contingencies.
Council’s self-financing
ratio is equal to or
greater than 10%.
That Council continue to
undertake service
reviews.
That Council pursues
recurrent grant funding
and capital funding
aligned with Council
Plan objectives.
That Council procure
goods and services in
accordance with Council
Procurement Policy and
procedures.
That Council continue to
implement a
combination of zero
based and incremental
budgeting.
Long Term
Borrowing
Strategies
Loan borrowings are
able to be serviced and
provide services for
current and future
generations.
That Council retains its
debt servicing ratio at or
below 5% over the life
of this FP.
That Council retains its
debt commitment ratio
at or below 10% over
the life of this FP.
That Council retains its
indebtedness ratio at or
below 40% over the life
of this FP.
That Council’s liquidity
ratio is equal to or
greater than 1:1.
Any new loan
borrowings are to be
used to fund capital
investments where the
community benefits are
long term and there is a
financial return to meet
principle interest.
That Council set aside
sufficient funds in a
reserve to repay any
interest only debt in line
with the Loan
Repayment Reserve for
Interest Only Debt –
Major Policy.
Rating and
Other
Revenue
Strategies
Provide a reasonable
degree of consistency,
equity and stability in
the level of the rates
burden and user fees
and charges.
The rating strategy
provides adequate funds
to achieve an underlying
surplus in the Income
Statement excluding
non-recurrent grants,
capital contributions and
non-monetary assets.
That Council retains
Capital Improvement
Value (CIV) as its
valuation base.
That Council retains the
rating structure of seven
differential rates and

image
11
Details
Outcome
Strategy
Action
The rating strategy
provides adequate funds
to ensure Council’s
liquidity ratio is equal to
or greater than 1:1.
The rating strategy
provides adequate funds
to fund capital works
and reduce the renewal
gap over a period of
time in accordance with
Council AMPs.
conduct an annual
review, subject to
compliance with
legislative requirements.
That Council review its
municipal charge
annually to ensure an
equitable contribution
towards the
administration and
governance costs of
Council.
That Council benchmark
its discretionary user
fees and charges with
other equivalent
Councils biennially to
ensure comparability to
its benchmark partners.
Asset
Management
and Capital
Works
Program
Assets will be fit for
purpose to provide the
desired level of service
to the community.
That Council have a 10
year capital works
program in accordance
with AMPs and ensure
that adequate and
affordable provision is
made for the creation of
new assets and the
renewal of existing
assets.
That Council will achieve
a renewal gap ratio of
1:1 by 2030.
That Council will
endeavour to achieve an
asset sustainability
index of greater than
1.0.
Council complete/update
AMPs for all classes of
assets with a focus on
ensuring that the assets
are fit for purpose and
provide the required
level of service to the
community.
Capital works proposals
must have a business
case which includes a
lifecycle costing and
meet the objectives of
the Council Plan.
Council conducts
condition audits
biennially on all asset
classes.
Service
Provision and
Planning
Council generates
sufficient surpluses from
operations to continue
to provide the existing
level of services and
meet community
demands and
expectations.
Council continues to
consult with the
community to determine
that the desired service
levels will be achieved
including a combination
of revenue raising and
the rationalisation and
review of existing
service levels.
That Council annually
determines the range
and level of services
provided through the
annual budget process
incorporating an
analysis of the
organisational and
financial capability.

image
12
2.8 A
SSUMPTIONS TO THE
F
INANCIAL
P
LAN
S
TATEMENTS
This section presents information in regard to the assumptions to the Comprehensive Income
Statement for the 10 years from 2021/22 to 2030/31.
The table below outlines the annual escalations for the 10 year period for each income and
expenditure line item contained in the Comprehensive Income Statement.
21/22 22/23 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31
CPI
1.75% 1.75% 2%
2%
2%
2%
2%
2%
2%
2%
Growth in
properties
- 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75% 0.75%
Rates
1.5% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Supplementary
Rates
$600K 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Service Charges
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Statutory Fees &
Fines
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
User Fees &
Charges
4% 4% 4% 4% 4% 4% 4% 4% 4% 4%
Grants - Operating
(recurrent)
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Grants - Operating
(non-recurrent)
Once off payment or payments. Forecast with no increase.
Grants – Capital
(recurrent)
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Grants – Capital
(non-recurrent)
Once off payment or payments. Forecast with no increase.
Contributions -
monetary
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Contributions –
non-monetary
($’000)
1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
Other Income
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Interest on
Investments
0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49% 0.49%
Employee Costs
1.5% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
FBT
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Material &
Services
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%
Utilities
5% 5% 5% 5% 5% 5% 5% 5% 5% 5%
Bad & Doubtful
Debts
Forecast with no increase.
Depreciation &
Amortisation
Rates are reviewed annually and are based on straight line method.
Borrowing Costs
2% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5%
Other Expenses
1.75% 1.75% 2% 2% 2% 2% 2% 2% 2% 2%

image
13
3 FINANCIAL PLAN STATEMENTS
3.1 C
OMPREHENSIVE
I
NCOME
S
TATEMENT
3.2 B
ALANCE
S
HEET
3.3 S
TATEMENT OF
C
HANGES IN
E
QUITY
COMPREHENSIVE INCOME STATEMENT
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
year ending 30 June
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Revenue
Ra
tes and charges
163,913
166,743
170,595
181,136
184,856
189,559
194,386
199,340
204,426
209,645
215,002
Statutory fees and fines
4,487
8,291
8,436
8,605
8,777
8,952
9,131
9,314
9,500
9,690
9,884
User fees
4,216
7,921
12,320
13,702
14,956
15,554
16,176
16,824
17,496
18,196
18,924
Grants - Operating (Recurrent)
24,905
24,350
24,776
25,271
25,777
26,292
26,818
27,354
27,901
28,459
29,029
Grants - Operating (Non-recurrent)
8,248
1,406
4,205
136
139
142
145
148
150
153
157
Grants - Capital (Recurrent)
1,160
1,160
1,181
1,202
31
32
33
33
34
34
35
Grants - Capital (Non-recurrent)
13,839
14,350
1,018
0
632
642
0
0
0
0
0
Contributions - Monetary
4,268
3,533
3,655
3,728
3,803
3,879
3,956
4,035
4,115
4,197
4,211
Contributions - Non monetary assets
3,000
1,000
1,033
1,069
1,106
1,145
1,185
1,227
1,270
1,314
1,360
Net gain on sale of non-current assets
(4,335)
204
207
211
215
219
224
228
233
238
242
Other income
5,497
6,592
6,866
7,026
7,175
7,338
7,393
7,543
7,697
7,850
8,011
229,197
235,550
234,291
242,086
247,465
253,755
259,447
266,046
272,823
279,777
286,855
Expenses
Employee costs
94,598
94,094
99,933
103,793
107,599
111,415
114,749
118,182
121,719
125,361
129,112
Materials and services
68,907
72,540
81,537
78,955
80,566
82,117
82,949
84,798
86,693
88,636
90,629
Bad and doubtful debts
950
950
950
950
950
950
950
950
950
950
950
Depreciation and amortisation
42,394
42,905
44,584
45,860
47,108
48,438
49,805
51,311
52,720
54,074
55,353
Amortisation - right of use assets
1,395
1,358
1,188
1,204
1,220
1,236
1,253
1,270
1,287
1,304
1,322
Borrowing costs
1,933
2,148
2,313
2,240
2,401
2,324
1,705
1,618
1,634
1,290
976
Finance costs - leases
241
183
125
127
128
130
132
134
135
137
139
Other expenses
3,649
3,793
3,656
3,729
3,782
3,858
3,935
4,014
4,094
4,176
4,260
214,067
217,969
234,286
236,859
243,754
250,469
255,478
262,277
269,232
275,929
282,740
Surplus /(deficit) for the year
15,130
17,580
5
5,227
3,712
3,286
3,969
3,769
3,591
3,848
4,114
BALANCE SHEET
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
as at 30 June
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Current assets
Ca
sh and cash equivalents
70,211
49,549
46,160
40,170
42,780
22,799
21,393
19,990
17,527
16,101
13,663
Trade and other receivables
36,984
26,597
26,963
32,964
33,318
33,764
34,223
34,694
35,177
35,673
36,181
Inventories
60
60
60
60
60
60
60
60
60
60
60
Other assets
3,513
3,513
3,513
3,513
3,513
3,513
3,513
3,513
3,513
3,513
3,513
110,768
79,720
76,697
76,708
79,671
60,137
59,190
58,257
56,277
55,347
53,418
Non Current Assets
Property, infrastructure, plant and equipment
2,414,981
2,466,971
2,470,109
2,473,416
2,480,132
2,485,230
2,491,722
2,493,266
2,498,854
2,498,391
2,497,694
Right-of-use assets
4,660
3,303
3,115
3,157
3,199
3,242
3,285
3,329
3,374
3,419
3,465
Trade and other receivables
227
227
227
227
227
227
227
227
227
227
227
2,419,868
2,470,501
2,473,451
2,476,800
2,483,559
2,488,699
2,495,235
2,496,823
2,502,456
2,502,037
2,501,386
Total Assets
2,530,636
2,550,221
2,550,148
2,553,508
2,563,230
2,548,836
2,554,424
2,555,079
2,558,733
2,557,385
2,554,804
Current Liabilities
Trade and other payables
20,337
21,551
24,316
23,718
24,346
24,952
25,308
25,953
26,612
27,262
27,906
Trust funds and deposits
9,015
10,015
11,015
12,015
13,015
14,015
15,015
16,015
17,015
18,015
19,015
Provisions
23,272
23,939
24,589
25,316
26,066
26,838
27,633
28,452
29,295
30,164
31,059
Lease liabilities
1,109
759
456
462
468
474
481
487
493
500
507
Interest bearing loans and borrowings
9,497
10,303
9,088
10,462
32,155
13,631
14,180
15,544
15,823
11,843
6,939
63,230
66,567
69,464
71,973
96,050
79,910
82,617
86,451
89,239
87,785
85,427
Non Current Liabilities
Trust funds and deposits
6,077
6,077
6,077
6,077
6,077
6,077
6,077
6,077
6,077
6,077
6,077
Provisions
2,109
2,170
2,230
2,297
2,366
2,437
2,510
2,585
2,663
2,743
2,825
Lease liabilities
3,457
2,366
1,421
1,440
1,459
1,479
1,498
1,518
1,539
1,559
1,580
Interest bearing loans and borrowings
80,465
80,162
78,074
73,612
55,457
53,826
52,646
45,602
42,779
38,936
34,496
92,108
90,776
87,802
83,426
65,359
63,819
62,732
55,783
53,058
49,315
44,979
Total Liabilities
155,338
157,343
157,266
155,399
161,409
143,729
145,349
142,234
142,297
137,101
130,406
Net Assets
2,375,297
2,392,878
2,392,883
2,398,109
2,401,821
2,405,107
2,409,076
2,412,845
2,416,436
2,420,284
2,424,398
Equity
Accumulated Surplus /(Deficit)
1,057,179
1,078,553
1,081,984
1,085,854
1,088,209
1,105,137
1,109,046
1,112,755
1,116,284
1,120,069
1,124,119
Reserves
1,318,118
1,314,324
1,310,899
1,312,255
1,313,612
1,299,970
1,300,030
1,300,090
1,300,152
1,300,215
1,300,279
Total Equity
2,375,297
2,392,878
2,392,883
2,398,109
2,401,821
2,405,107
2,409,076
2,412,845
2,416,436
2,420,284
2,424,398
STATEMENT OF CHANGES IN EQUITY
F
orecast Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget
as at 30 June
20/21
21/22 22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Accumulated Surplus /(Deficit)
Balance at the beginning of the year
1,046,330 1,057,179 1,078,553 1,081,984 1,085,854 1,088,209 1,105,137 1,109,046 1,112,755 1,116,284 1,120,069
Surplus /(deficit) for the year
15,130 17,580
5
5,227
3,712
3,286
3,969
3,769
3,591
3,848
4,114
Net asset revaluation increment /(decrement)
0
0
0
0
0
0
0
0
0
0
0
Transfers to reserves
(6,970) (4,050) (4,098) (4,154) (4,211) (4,269) (3,029) (3,089) (3,151) (3,214) (3,278)
Transfers from reserves
2,690
7,844
7,524
2,798
2,854
17,911
2,969
3,029
3,089
3,151
3,214
Balance at the end of the year
1,057,179 1,078,553 1,081,984 1,085,854 1,088,209 1,105,137 1,109,046 1,112,755 1,116,284 1,120,069 1,124,119
Asset Revaluation Reserve
Balance at the beginning of the year
1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908
Surplus /(deficit) for the year
0
0
0
0
0
0
0
0
0
0
0
Net asset revaluation increment /(decrement)
0
0
0
0
0
0
0
0
0
0
0
Transfers to reserves
0
0
0
0
0
0
0
0
0
0
0
Transfers from reserves
0
0
0
0
0
0
0
0
0
0
0
Balance at the end of the year
1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908 1,295,908
Other Reserves
Balance at the beginning of the year
17,930 22,210
18,416
14,991
16,347
17,704
4,062
4,122
4,182
4,244
4,307
Surplus /(deficit) for the year
0
0
0
0
0
0
0
0
0
0
0
Net asset revaluation increment /(decrement)
0
0
0
0
0
0
0
0
0
0
0
Transfers to reserves
6,970
4,050
4,098
4,154
4,211
4,269
3,029
3,089
3,151
3,214
3,278
Transfers from reserves
(2,690) (7,844) (7,524) (2,798) (2,854) (17,911) (2,969) (3,029) (3,089) (3,151) (3,214)
Balance at the end of the year
22,210 18,416 14,991 16,347 17,704
4,062
4,122
4,182
4,244
4,307
4,371

image
14
3.4 S
TATEMENT OF
C
ASH
F
LOWS
3.5 S
TATEMENT OF
C
APITAL
W
ORKS
3.6 S
TATEMENT OF
H
UMAN
R
ESOURCES
STATEMENT OF CASH FLOWS
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
year ending 30 June
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Cash flows from operating activities
Rates and charges
166,335
172,130
175,229
180,135
184,502
189,112
193,927
198,870
203,943
209,149
214,493
Statutory fees & fines
4,487
8,291
8,436
8,605
8,777
8,952
9,131
9,314
9,500
9,690
9,884
User charges
4,216
7,921
12,320
13,702
14,956
15,554
16,176
16,824
17,496
18,196
18,924
Grants
48,151
41,266
31,179
26,609
26,578
27,107
26,995
27,535
28,086
28,647
29,220
Contributions - monetary
4,268
3,533
3,655
3,728
3,803
3,879
3,956
4,035
4,115
4,197
4,211
Other receipts
5,497
6,592
6,866
7,026
7,175
7,338
7,393
7,543
7,697
7,850
8,011
Employee costs
(94,598)
(93,365)
(99,225)
(102,999)
(106,780)
(110,572)
(113,881)
(117,288)
(120,798)
(124,412)
(128,135)
Materials and services
(72,489)
(71,486)
(78,928)
(79,704)
(80,099)
(81,667)
(82,708)
(84,262)
(86,143)
(88,073)
(90,051)
Trust funds and deposits
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Other payments
(4,599)
(4,743)
(4,606)
(4,679)
(4,732)
(4,808)
(4,885)
(4,964)
(5,044)
(5,126)
(5,210)
62,267
71,139
55,927
53,423
55,179
55,896
57,106
58,607
59,852
61,118
62,348
Cash flows from investing activities
Payments for property, infrastructure, plant & equipment
(91,429)
(89,656)
(53,162)
(53,537)
(53,166)
(52,848)
(55,580)
(52,108)
(57,529)
(52,797)
(53,809)
Proceeds from sale of property, infrastructure, plant &
equipment
700
1,147
805
821
837
854
871
888
906
924
943
(90,729)
(88,509)
(52,357)
(52,716)
(52,329)
(51,995)
(54,709)
(51,219)
(56,623)
(51,873)
(52,866)
Cash flows from financing activities
Finance costs
(1,803)
(1,988)
(2,158)
(2,090)
(2,239)
(2,168)
(1,591)
(1,509)
(1,524)
(1,204)
(910)
Proceeds from interest bearing loans and deposits
33,350
10,000
7,000
6,000
14,000
12,000
13,000
8,500
13,000
8,000
2,500
Repayment of interest bearing loans and deposits
(6,168)
(9,497)
(10,303)
(9,088)
(10,462)
(32,155)
(13,631)
(14,180)
(15,544)
(15,823)
(11,843)
Interest paid - lease liability
(241)
(183)
(125)
(127)
(128)
(130)
(132)
(134)
(135)
(137)
(139)
Repayment of lease liabilities
(1,708)
(1,623)
(1,373)
(1,392)
(1,410)
(1,429)
(1,449)
(1,468)
(1,488)
(1,508)
(1,528)
23,431
(3,291)
(6,959)
(6,697)
(240)
(23,883)
(3,802)
(8,791)
(5,691)
(10,671)
(11,920)
Net (decrease)/increase in cash held
(5,032)
(20,661)
(3,389)
(5,990)
2,610
(19,981)
(1,405)
(1,404)
(2,463)
(1,426)
(2,439)
Cash at beginning of the year
75,243
70,211
49,549
46,160
40,170
42,780
22,799
21,393
19,990
17,527
16,101
Cash at the end of the year
70,211
49,549
46,160
40,170
42,780
22,799
21,393
19,990
17,527
16,101
13,663
STATEMENT OF CAPITAL WORKS
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
year ending 30 June
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Property
-Land
1,200
0
1,018
1,035
1,053
1,070
1,088
1,105
1,123
1,140
1,158
Buildings
37,563
46,368
6,153
7,442
7,417
10,243
15,907
13,539
9,937
15,769
7,269
38,763
46,368
7,171
8,477
8,470
11,313
16,995
14,644
11,059
16,909
8,427
Plant and Equipment
Plant, machinery and equipment
3,731
3,140
2,691
2,528
4,365
3,043
5,847
5,275
3,259
3,429
3,544
Computers and telecommunications
796
197
509
518
526
535
544
553
561
570
579
Library books
847
800
814
828
842
856
870
884
898
912
926
5,374
4,137
4,014
3,873
5,733
4,434
7,260
6,711
4,719
4,911
5,049
Infrastructure
Roads
26,514
20,864
27,300
28,209
28,328
19,339
19,471
19,923
30,403
20,877
31,351
Footpaths and cycleways
1,866
4,301
1,038
1,418
2,042
3,745
2,490
1,149
1,448
1,471
683
Drainage
1,446
730
967
983
1,000
1,017
1,033
1,050
1,066
1,083
1,100
Recreational, leisure and community facilities
6,335
2,372
7,855
4,533
2,210
4,120
2,501
4,597
4,164
2,690
2,847
Parks, open space and streetscapes
11,132
10,884
4,818
6,043
5,384
8,881
5,829
4,033
4,670
4,856
4,352
47,292
39,150
41,977
41,187
38,964
37,101
31,325
30,752
41,751
30,977
40,333
91,429
89,656
53,162
53,537
53,166
52,848
55,580
52,108
57,529
52,797
53,809
Renewal
30,653
26,592
23,808
25,369
25,422
17,203
15,932
16,269
26,576
17,352
27,309
New/expansion/upgrade
60,776
63,064
29,354
28,168
27,744
35,646
39,648
35,838
30,954
35,445
26,500
91,429
89,656
53,162
53,537
53,166
52,848
55,580
52,108
57,529
52,797
53,809
STATEMENT OF HUMAN RESOURCES
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
year ending 30 June
2021
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Staff Expenditure
Em
ployee costs - operating
94,598
94,094
99,933
103,793
107,599
111,415
114,749
118,182
121,719
125,361
129,112
Employee costs - capital
0
0
0
0
0
0
0
0
0
0
0
Total staff expenditure
94,598
94,094
99,933
103,793
107,599
111,415
114,749
118,182
121,719
125,361
129,112
Staff numbers
Employees
843.30 918.96 988.26 980.71 980.71 979.71 979.71 979.71 979.71 979.71 979.71
Total staff numbers
843.30 918.96 988.26 980.71 980.71 979.71 979.71 979.71 979.71 979.71 979.71

image
15
3.7 S
UMMARY OF
P
LANNED
H
UMAN
R
ESOURCES
E
XPENDITURE
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
$'000
Employee Expenses
Consolidated
Permanent - Full time
54,909
57,275
59,910
61,968
64,096
66,019
67,999
70,039
72,141
74,305
Female
20,214
22,956
24,235
25,070
25,928
26,706
27,508
28,333
29,183
30,059
Male
30,894
33,977
35,675
36,898
38,167
39,312
40,492
41,707
42,958
44,247
Vacant
3,801
342
0
0
0
0
0
0
0
0
Permanent - Part time
17,869
18,496
19,135
19,795
20,471
21,085
21,718
22,369
23,041
23,732
Female
14,566
15,806
16,352
16,916
17,494
18,018
18,559
19,116
19,689
20,280
Male
1,917
2,690
2,783
2,879
2,978
3,067
3,159
3,254
3,351
3,452
Vacant
1,386
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
21,316
24,163
24,748
25,835
26,848
27,645
28,465
29,310
30,180
31,076
Total Brimbank City Council
94,094
99,933
103,793
107,599
111,415
114,749
118,182
121,719
125,361
129,112
Office of the Chief Executive Officer
Permanent - Full time
112
116
120
124
128
132
136
140
144
149
Female
112
116
120
124
128
132
136
140
144
149
Male
0
0
0
0
0
0
0
0
0
0
Vacant
0
0
0
0
0
0
0
0
0
0
Permanent - Part time
0
0
0
0
0
0
0
0
0
0
Female
0
0
0
0
0
0
0
0
0
0
Male
0
0
0
0
0
0
0
0
0
0
Vacant
0
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
391
404
418
433
448
461
475
489
504
519
Total Office of the Chief Executive Officer
503
520
538
557
576
593
611
629
648
668
Organisational Excellence
Permanent - Full time
5,195
5,343
5,519
5,710
5,909
6,086
6,269
6,457
6,651
6,850
Female
3,059
3,201
3,306
3,421
3,540
3,646
3,756
3,868
3,984
4,104
Male
2,030
2,142
2,212
2,289
2,369
2,440
2,513
2,589
2,666
2,746
Vacant
105
0
0
0
0
0
0
0
0
0
Permanent - Part time
380
391
404
418
433
446
459
473
487
502
Female
296
305
315
326
337
347
357
368
379
391
Male
84
87
90
93
96
99
102
105
108
111
Vacant
0
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
2,740
2,346
2,255
2,326
2,400
2,463
2,528
2,595
2,663
2,733
Total Organisational Excellence
8,316
8,081
8,178
8,455
8,741
8,995
9,256
9,524
9,801
10,085
City Development Division
Permanent - Full time
7,213
7,538
7,797
8,064
8,340
8,590
8,848
9,113
9,387
9,668
Female
3,350
3,757
3,885
4,018
4,156
4,281
4,409
4,541
4,677
4,818
Male
3,374
3,782
3,912
4,046
4,184
4,309
4,439
4,572
4,709
4,850
Vacant
489
0
0
0
0
0
0
0
0
0
Permanent - Part time
2,656
2,743
2,837
2,934
3,034
3,125
3,219
3,316
3,415
3,518
Female
2,460
2,541
2,628
2,718
2,811
2,895
2,982
3,071
3,164
3,258
Male
196
202
209
216
224
230
237
244
252
259
Vacant
0
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
3,866
3,890
4,025
4,165
4,310
4,439
4,572
4,709
4,851
4,996
Total City Development Division
13,735
14,171
14,659
15,163
15,684
16,154
16,639
17,138
17,652
18,182
Community Wellbeing Division
Permanent - Full time
12,457
12,923
13,370
13,832
14,304
14,733
15,175
15,630
16,099
16,582
Female
8,387
9,141
9,457
9,784
10,117
10,421
10,733
11,055
11,387
11,729
Male
3,231
3,782
3,913
4,048
4,186
4,312
4,441
4,575
4,712
4,853
Vacant
838
0
0
0
0
0
0
0
0
0
Permanent - Part time
12,369
12,818
13,261
13,720
14,188
14,613
15,052
15,503
15,968
16,447
Female
9,511
10,551
10,915
11,293
11,678
12,028
12,389
12,761
13,143
13,538
Male
1,541
2,268
2,346
2,427
2,510
2,585
2,663
2,743
2,825
2,910
Vacant
1,318
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
7,993
11,095
11,307
11,932
12,347
12,718
13,099
13,492
13,897
14,314
Total Community Wellbeing Division
32,820
36,836
37,938
39,484
40,839
42,064
43,326
44,626
45,965
47,343
Advocacy, Partnerships & Community
Permanent - Full time
4,955
5,237
5,416
5,602
5,794
5,967
6,147
6,331
6,521
6,716
Female
3,472
3,981
4,117
4,258
4,404
4,536
4,672
4,812
4,957
5,105
Male
834
1,256
1,299
1,344
1,390
1,431
1,474
1,519
1,564
1,611
Vacant
649
0
0
0
0
0
0
0
0
0
Permanent - Part time
1,567
1,617
1,673
1,730
1,789
1,843
1,898
1,955
2,014
2,074
Female
1,499
1,583
1,637
1,693
1,751
1,804
1,858
1,914
1,971
2,030
Male
0
34
35
36
38
39
40
41
42
44
Vacant
68
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
2,114
2,064
2,136
2,210
2,287
2,356
2,427
2,500
2,575
2,652
Total Advocacy, Partnerships & Community
8,637
8,918
9,225
9,542
9,870
10,166
10,471
10,785
11,109
11,442
Infrastructure and City Services
Permanent - Full time
24,977
26,118
27,688
28,635
29,622
30,510
31,426
32,368
33,339
34,340
Female
1,834
2,761
3,349
3,464
3,583
3,691
3,801
3,915
4,033
4,154
Male
21,424
23,015
24,339
25,171
26,039
26,820
27,624
28,453
29,307
30,186
Vacant
1,719
342
0
0
0
0
0
0
0
0
Permanent - Part time
896
926
960
993
1,027
1,058
1,090
1,122
1,156
1,191
Female
800
827
857
886
917
944
973
1,002
1,032
1,063
Male
96
100
103
107
110
114
117
121
124
128
Vacant
0
0
0
0
0
0
0
0
0
0
Casuals, temporary and other expenditure
4,211
4,363
4,607
4,770
5,056
5,208
5,364
5,525
5,691
5,861
Total Infrastructure and City Services
30,083
31,407
33,255
34,398
35,705
36,776
37,879
39,016
40,186
41,392
Total employee expenses
94,094
99,933
103,793
107,599
111,415
114,749
118,182
121,719
125,361
129,112

image
16
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
FTE
FTE
FTE
FTE
FTE
FTE
FTE
FTE
FTE
FTE
Staff FTE Numbers
Consolidated
Permanent - Full time
526.2
542.2
542.2
542.2
542.2
542.2
542.2
542.2
542.2
542.2
Female
187.2
210.6
215.6
215.6
215.6
215.6
215.6
215.6
215.6
215.6
Male
298.3
321.6
326.6
326.6
326.6
326.6
326.6
326.6
326.6
326.6
Vacant
40.8
10.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
220.3
227.2
227.2
227.2
227.2
227.2
227.2
227.2
227.2
227.2
Female
153.9
174.6
174.6
174.6
174.6
174.6
174.6
174.6
174.6
174.6
Male
32.0
52.6
52.6
52.6
52.6
52.6
52.6
52.6
52.6
52.6
Vacant
34.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
172.4
218.8
211.2
211.2
210.2
210.2
210.2
210.2
210.2
210.2
Total Consolidated
919.0
988.3
980.7
980.7
979.7
979.7
979.7
979.7
979.7
979.7
Office of the Chief Executive Officer
Permanent - Full time
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
Female
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
Male
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Vacant
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Female
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Male
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Vacant
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
Total Office of the Chief Executive Officer
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.0
Organisational Excellence
Permanent - Full time
44.2
44.2
44.2
44.2
44.2
44.2
44.2
44.2
44.2
44.2
Female
27.2
27.7
27.7
27.7
27.7
27.7
27.7
27.7
27.7
27.7
Male
16.0
16.5
16.5
16.5
16.5
16.5
16.5
16.5
16.5
16.5
Vacant
1.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
3.8
3.8
3.8
3.8
3.8
3.8
3.8
3.8
3.8
3.8
Female
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
3.0
Male
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.8
Vacant
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
26.4
22.6
21.4
21.4
21.4
21.4
21.4
21.4
21.4
21.4
Total Organisational Excellence
74.4
70.6
69.4
69.4
69.4
69.4
69.4
69.4
69.4
69.4
City Development Division
Permanent - Full time
66.0
66.0
66.0
66.0
66.0
66.0
66.0
66.0
66.0
66.0
Female
32.0
34.5
34.5
34.5
34.5
34.5
34.5
34.5
34.5
34.5
Male
29.0
31.5
31.5
31.5
31.5
31.5
31.5
31.5
31.5
31.5
Vacant
5.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
34.0
34.0
34.0
34.0
34.0
34.0
34.0
34.0
34.0
34.0
Female
32.1
32.1
32.1
32.1
32.1
32.1
32.1
32.1
32.1
32.1
Male
1.8
1.8
1.8
1.8
1.8
1.8
1.8
1.8
1.8
1.8
Vacant
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
26.5
26.5
26.5
26.5
26.5
26.5
26.5
26.5
26.5
26.5
Total City Development Division
126.4
126.4
126.4
126.4
126.4
126.4
126.4
126.4
126.4
126.4
Community Wellbeing Division
Permanent - Full time
118.4
124.4
124.4
124.4
124.4
124.4
124.4
124.4
124.4
124.4
Female
78.0
86.1
86.1
86.1
86.1
86.1
86.1
86.1
86.1
86.1
Male
30.3
38.3
38.3
38.3
38.3
38.3
38.3
38.3
38.3
38.3
Vacant
10.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
158.9
165.8
165.8
165.8
165.8
165.8
165.8
165.8
165.8
165.8
Female
96.8
117.1
117.1
117.1
117.1
117.1
117.1
117.1
117.1
117.1
Male
28.3
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
Vacant
33.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
75.1
121.7
117.9
117.9
117.9
117.9
117.9
117.9
117.9
117.9
Total Community Wellbeing Division
352.4
412.0
408.2
408.2
408.2
408.2
408.2
408.2
408.2
408.2
Advocacy, Partnerships & Community
Permanent - Full time
45.6
45.6
45.6
45.6
45.6
45.6
45.6
45.6
45.6
45.6
Female
31.0
34.3
34.3
34.3
34.3
34.3
34.3
34.3
34.3
34.3
Male
8.0
11.3
11.3
11.3
11.3
11.3
11.3
11.3
11.3
11.3
Vacant
6.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
15.5
15.5
15.5
15.5
15.5
15.5
15.5
15.5
15.5
15.5
Female
14.9
15.2
15.2
15.2
15.2
15.2
15.2
15.2
15.2
15.2
Male
0.0
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
Vacant
0.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
15.0
15.0
15.0
15.0
15.0
15.0
15.0
15.0
15.0
15.0
Total Advocacy, Partnerships & Community
76.1
76.1
76.1
76.1
76.1
76.1
76.1
76.1
76.1
76.1
Infrastructure and City Services
Permanent - Full time
251.0
261.0
261.0
261.0
261.0
261.0
261.0
261.0
261.0
261.0
Female
18.0
27.0
32.0
32.0
32.0
32.0
32.0
32.0
32.0
32.0
Male
215.0
224.0
229.0
229.0
229.0
229.0
229.0
229.0
229.0
229.0
Vacant
18.0
10.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Permanent - Part time
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
8.2
Female
7.2
7.2
7.2
7.2
7.2
7.2
7.2
7.2
7.2
7.2
Male
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
1.0
Vacant
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Casuals, temporary and other expenditure
28.5
32.0
29.5
29.5
28.5
28.5
28.5
28.5
28.5
28.5
Total Infrastructure and City Services
287.7
301.2
298.7
298.7
297.7
297.7
297.7
297.7
297.7
297.7
Total staff FTE numbers
919.0
988.3
980.7
980.7
979.7
979.7
979.7
979.7
979.7
979.7

image
17
4 FINANCIAL PERFORMANCE INDICATORS
4.1 K
EY
F
INANCIAL
I
NDICATORS
The following table highlights Council’s projected performance across a range of key performance
indicators. These indicators provide an analysis of Councils’ 10 year financial projections and should
be interpreted in the context of the organisations objectives and financial management principles.
4.2 VAGO I
NDICATORS
Analysis within the FP will be based on the financial indicators that the Victorian Auditor General’s
Office (VAGO) uses to ensure Local Government remains financially sustainable. These indicators
are as follows:
Underlying result
Council generates enough revenue to cover operating costs and
depreciation
Liquidity
Council has sufficient working capital to meet short-term commitments
Self-financing
Council generates sufficient operating cash flows to invest in asset
renewal and repay debt it may have incurred in the past
Indebtedness
Council is not overly reliant on debt to fund capital programs
Capital replacement
Council has been replacing assets at a rate consistent with their
consumption
Renewal gap
Council has been maintaining existing assets at a consistent rate
Risk
Underlying
Result
Liquidity Self-financing Indebtedness
Capital
Replacement
Renewal Gap
Formula
Adjusted net
surplus /total
underlying
revenue
Current
assets
/current
liabilities
Net operating
cash flows
/underlying
revenue
Non-current
liabilities
/own-source
revenue
Capital
expenditure
/depreciation
Renewal
expenditure
/depreciation
High
Negative 10%
or less
Equal to or
less than
1.0
Less than 10% More than 60%
Equal to or less
than 1.0
Equal to or less
than 0.5
Medium
Negative 10%
to 0%
1.0 to 1.5 10% to 20% 40% to 60%
1.0 to 1.5
0.5 to 1.0
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
Expenditure level
2,731
2,757
2,941
2,951
3,015
3,075
3,113
3,172
3,232
3,287
3,344
Revenue level
1,153
1,180
1,192
1,207
1,222
1,237
1,252
1,268
1,284
1,300
1,316
Adjusted underlying Surplus/Deficit excluding non
recurrent grants, monetary and non-monetary
contributions ($'000)
(5,977)
(1,303)
(5,701)
429
(1,829)
(2,380)
(1,172)
(1,492)
(1,794)
(1,663)
(1,457)
Underlying Result ($'000)
15,130
17,580
5
5,227
3,712
3,286
3,969
3,769
3,591
3,848
4,114
Cash Balances ($'000)
70,211
49,549
46,160
40,170
42,780
22,799
21,393
19,990
17,527
16,101
13,663
Cash Flow From Operations ($'000)
62,267
71,139
55,927
53,423
55,179
55,896
57,106
58,607
59,852
61,118
62,348
Total Borrowings ($'000)
89,962
90,465
87,162
84,074
87,612
67,457
66,826
61,146
58,602
50,779
41,436
Capital Expenditure ($'000)
91,429
89,656
53,162
53,537
53,166
52,848
55,580
52,108
57,529
52,797
53,809
Debt servicing ratio
0.85%
0.92%
0.99%
0.93%
0.97%
0.92%
0.66%
0.61%
0.60%
0.46%
0.34%
Debt commitment ratio
4.86%
6.89%
7.30%
6.17%
6.87%
18.11%
7.83%
7.87%
8.35%
8.12%
5.93%
Debt exposure
5.70%
5.58%
5.29%
5.02%
5.15%
3.90%
3.81%
3.43%
3.23%
2.76%
2.22%
Adjusted working capital ratio
235.98%
160.05%
146.78%
141.39%
102.40%
98.39%
93.55%
87.56%
81.88%
83.02%
83.88%
Adjusted underlying result
-2.87%
-0.60%
-2.49%
0.18%
-0.76%
-0.96%
-0.46%
-0.57%
-0.67%
-0.61%
-0.52%
Unrestricted cash
41.00%
22.59%
20.26%
7.96%
6.23%
-1.70%
-4.63%
-7.27%
-10.99%
-14.01%
-18.50%
Loans and borrowings(Debt compared to Rates)
54.88%
54.25%
51.09%
46.41%
47.39%
35.59%
34.38%
30.67%
28.67%
24.22%
19.27%
Rates concentration
78.77%
76.96%
74.63%
76.34%
76.41%
76.41%
76.44%
76.44%
76.44%
76.44%
76.44%
Rates effort
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Workforce turnover
16.65%
15.59%
15.13%
15.13%
15.13%
15.13%
15.13%
15.13%
15.13%
15.13%
15.13%
Key Financial Indicators

image
18
Risk
Underlying
Result
Liquidity Self-financing Indebtedness
Capital
Replacement
Renewal Gap
Low
More than 0%
More than
1.5
20% or more 40% or less More than 1.5 More than 1.0
4.3 A
NALYSIS OF
F
INANCIAL
I
NDICATORS
For the financial year 2020/21, the Victorian State Government announced a rate increase of 2%.
At the August 2020 Ordinary Council Meeting, Council adopted a 0% rate increase. The below table
outlines the incremental annual income foregone and the cumulative income foregone over the
term of the FP.
The accumulated income forgone due to a 0% increase in 2020/21 over the term of the FP
is $32M
From the financial year 2024/25 the Liquidity Ratio is under 1 (0.83) due to the impact of 10
years of rate capping, the compounded impact of a zero rate increase for 2020/21, and the
recognition of State Government Funding Vehicle principle loan repayment in 2025/26.
Future Councils will need to review and asses the Liquidity Ratio and make decisions to
address the risk level including, reducing services, revising capital expenditure or taking up
additional borrowings considering Council’s Indebtedness Risk Ratio trending low over the
term of this Financial Plan.
From 2024/25 the Liquidity Ratio enters the High Risk category, where current liquid assets
do not cover current liabilities. From this point the liquidity risk increases each year from
0.83 in 2024/25 to 0.63 in 2030/31
Our Loan Indebtedness Ratio is in the Low Risk category over the period of the 10 year
financial plan
Capital Expenditure is maintained at a reasonable level, greater than $50 million over the
period of the 10 year financial plan.
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
Underlying Result
-2.64%
-0.56%
-2.44%
0.18%
-0.74%
-0.94%
-0.45%
-0.56%
-0.66% -0.60%
-0.51%
Liquidity Ratio
1.75
1.20
1.10
1.07
0.83
0.75
0.72
0.67
0.63
0.63
0.63
Self financing
27.53%
30.33%
23.98%
22.17%
22.40%
22.13%
22.11%
22.13%
22.04%
21.95%
21.84%
Indebtedness
41.50%
39.29%
38.24%
35.16%
26.95%
25.66%
24.67%
21.39%
19.84%
17.98%
15.99%
Capital Replacement
2.16
2.09
1.19
1.17
1.13
1.09
1.12
1.02
1.09
0.98
0.97
Renewal Gap
0.72
0.62
0.53
0.55
0.54
0.36
0.32
0.32
0.50
0.32
0.49
VA
GO Financial Indicators
Forecast
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Budget
Year ending 30 June
2021
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Revenue
Rates (as per 2021/22 Financial Plan) 130,956
133,642
136,983
140,750
144,621
148,598
152,685
156,883
161,198
165,631
170,186
Rates adjusted for 2% rate increase in 2020/21
133,575
136,246
139,652
143,493
147,439
151,494
155,660
159,940
164,339
168,858
173,501
Incrimental Variance
(representing rates foregone each year)
(2,619)
(2,604)
(2,669)
(2,742)
(2,818)
(2,895)
(2,975)
(3,057)
(3,141)
(3,227)
(3,316)
Cumulative Variance
(representing accumulative rates foregone since FY2021)
(2,619)
(5,223)
(7,892)
(10,634)
(13,452)
(16,348)
(19,323)
(22,379)
(25,520)
(28,747)
(32,063)
Budget 2021/22: General Rate's % Growth Assumption
2.00%
2.50%
2.75%
2.75%
2.75%
2.75%
2.75%
2.75%
2.75%
2.75%

image
19
5 STRATEGIES AND PLANS
5.1 R
ATES AND
C
HARGES
5.1.1 Rate Capping
In 2015, the Victorian Government established the Fair Go Rates System resulting in the
introduction in 2016/2017 of a rate cap, which limits the amount Councils can increase rates in a
financial year.
The Minister for Local Government sets the average rate cap (ARC) based on the forecast change in
the consumer price index (CPI) over the related financial year as published by the Department of
Treasury and Finance (DTF) in December, plus or minus any adjustments. Councils can seek
approval to raise an increase above this figure through a variation with the Essential Services
Commission.
The
Local Government Act 1989
outlines that the rating system provides a “Reasonable degree of
stability in the level of the rates burden”, and that it is developed in a context of a public finance
methodology, which includes principles of equity, benefit, efficiency and community resource
allocation.
The Act requires Council to develop a Revenue and Rating Plan every four financial years that
meets the above objectives.
On 21 December 2020, the Minister for Local Government, the Hon Shaun Leane MP, advised an
annual rate for the 2021/22 financial year of 1.5 per cent. Councils can seek approval to raise an
increase above this figure through a variation with the Essential Services Commission. Brimbank
City Council has decided not to apply for a variation to the 2021/22 rate cap.
The forecast rate movements in total rate revenue over the next 10 years will be capped at the
percentage increase consistent with CPI and the rate cap as announced by the Minister in
December 2020.
Any unforeseen situations that may arise will be dealt with via the Annual Budget review.
5.1.2 Rating Structure
Council has developed a Revenue and Rating Plan to be formally adopted as part of the budget
process. The Act provides a Council must adopt a Revenue and Rating Plan for a period of at least
four financial years by the 30 June after a general election.
The Revenue and Rating Plan is a new requirement. It is for a 4-year ‘block’ period starting on 30
June in the year after each general election. It provides a medium-term plan for how Council will
generate income to deliver on the Council Plan, program and services and capital works
commitments over a 4-year period. It defines the revenue and rating ‘envelope’ within which
Council propose to operate.
It incorporates the consideration of:
How revenue will be generated through rates on properties (including differential rates on
different property classes)
Fixed service charges that apply on services such as waste or recycling
Fees and charges for services and programs – including pricing policies
Developer contributions and other revenue
Revenue generated from use or allocation of Council assets (including the application of
discounts and waivers)
Recurrent and non-recurrent operational and capital grants from other levels of
government.

image
20
Type of differentials and the rate multiplier:
Type of Property
Rate Multiplier
Residential
x1.17
Commercial/Industrial
x2.47
Farm Land
Lowest Rate
Residential Flats/Units
x1.17
Vacant Land
x2.44
Commercial/Industrial Vacant Land
x4.00
Retirement Village
x1.09
Culture Recreation Land
x1.25
When determining what valuation to use when calculating rates Council uses the Capital Improved
V
alue. Council is provided property valuations by the Valuer-General annually as required by
the
Valuation of Land Act 1960
. These ensure the value we place on each property is up-to-date
and reflects its current market value.
5.1.3 Rates and Charges
Rates and Charges revenue is an integral part of the Council’s revenue base, the value of which is
determined through Council’s desire to achieve the strategies articulated in its various adopted
Plans.
General Rates and Charges currently comprise approximately 75% of total operating revenue, and
this is projected to remain constant throughout the plan period; however it would be desirable to
reduce this strong dependence on rate income.
Rate increases in the FP are projected at the percentage increase consistent with CPI and the rate
cap as announced by the Minister in December 2020 which currently is 1.5 per cent.
There are no projections that Council will apply for a variation to the rate cap at this stage,
however, if Council decides to proceed with projects that are outside the FP then a variation to the
rate cap will need to be considered as a potential funding source.
The graph below provides details of rates revenue increases from 2010/11 to 2021/22 and
proposed rates and charges revenue increases for the next 10 years.
5.04%
6.09%
6.65%
6.80%
6.65%
5.40%
2.50%
2.00%
2.25%
2.50%
0.00%
1.50%
1.75%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%

image
21
5.1.4 Municipal Charge
The Municipal Charge, raised in accordance with Section 159 of the
Local Government Act 1989
, is
applied to each rateable property to allow Council to recover part of its administrative cost.
Legislation requires that this amount cannot exceed 20% of the total rates raised (including rates
and municipal charge).
In 2021/22 the Council municipal charge is anticipated to be at 4.58% of total rates revenue.
Administrative costs including finance, asset management, information systems, corporate records,
human resources and governance will be supported by this income.
5.1.5 Public Amenities Cleansing Levy
The Waste Management Levy applies to all rateable occupancies to ensure that all rateable
occupancies fairly contribute to the cost of street sweeping, waste and rubbish collection and
disposal from public places.
5.1.6 Environmental Service Charge
Environmental Service Charges directly funds the collection and disposal of household waste and
recyclables. All residential, residential flats/units and retirement village units will incur a 140 litre
Environmental Charge for the provision of a domestic garbage bin and recycling service, including
non-rateable occupancies. Residents may request an 80 litre domestic garbage bin to replace this
service with Environmental Charges to be adjusted from the date that the bins are replaced.
5.1.7 Green Waste Service Charge
The Green Waste Service Charges are available to all residential, residential flat/unit and retirement
village units and directly funds the collection and disposal of green waste. Residents may request a
140 litre or 240 litre Green Waste bins.
5.1.8 Budgeted Service Charges
The budgeted charges for 2021/22 are as follows:
*No Longer available/existing clients only
Service Charge Type
Rate ($)
Public Amenities Cleansing Levy
87.60
80 Litre Environmental Charge
188.07
140 Litre Environmental Charge
304.30
240 Litre Environmental Charge *
546.30
140 Litre Green Waste Charge
95.24
240 Litre Green Waste Charge
104.64
5.1.9 Pensioner Rebate
Brimbank’s rating structure also provides a pensioner rebate of $25.00. Details of the current
number of estimated growth and the forecast pensioner rebate are detailed in the following table.
21/22 22/23 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31
Residential
Properties
70,326 70,624 71,021 71,420 71,822 72,226 72,632 73,041 73,451 73,864
Properties
Rebated (%)
23% 23% 23% 23% 23% 23% 23% 23% 23% 23%

image
22
21/22 22/23 23/24 24/25 25/26 26/27 27/28 28/29 29/30 30/31
Concessions
16,175 16,244 16,335 16,427 16,519 16,612 16,705 16,799 16,894 16,989
Cost to
Council ($)
404,375 406,088 408,371 410,665 412,977 415,300 417,634 419,986 422,343 424,718
5.2 B
ORROWING
S
TRATEGY
In developing the FP, borrowings were identified as an important source for the capital works
program, and the cost of infrastructure should not be borne entirely by present ratepayers but be
contributed to by future generations that will also derive a benefit.
The FP has made provision for new borrowings over the next 10 years and a provision has been
made to refinance part of our existing borrowings as they come due.
5.2.1 Borrowing Assessment
The use of loan borrowings as a funding source for the budget and FP warrants careful
consideration and is best applied within a financial strategy framework where the use of loan
borrowings is governed by a set of principles which are further reinforced by a set of financial ratios
which ensure that debt levels are retained within manageable levels.
Prior to undertaking any borrowings, Council needs to assess its repayment capacity so that the
community is not burdened with unnecessary risk.
The basis for determining the utilisation of loan borrowings is as follows:
Renewal, replacement or new infrastructure to meet specific needs agreed to by the Council
Meet the Brimbank Council Plan strategic objectives
All loan borrowings are able to be adequately serviced over the life of the loan
The term of any loan will not exceed the expected life of the asset being funded
All loan borrowings will be in accordance with Section 101 of the Act;
Growth rate in the municipality or changing demographics;
In determining the amount of loan borrowings, Council will also consider any financial
effects placed upon future generations
Generate financial return to meet repayments.
5.2.2 Current Debt Position
The total amount borrowed as at 30 June 2021 is $89.96 million.
5.2.3 Future Borrowing Requirements
The following table provides details of debt over the life of the FP.
Year
Refinancing /
New
$’000
Principal Paid
$’000
Interest Paid
$’000 Balance 30 June
$’000
21/22
10,000
9,497
2,384
90,464
22/23
7,000
10,303
2,313
87,162
23/24
6,000
9,088
2,240
84,074
24/25
14,000
10,462
2,401
87,612

image
23
Year
Refinancing /
New
$’000
Principal Paid
$’000
Interest Paid
$’000 Balance 30 June
$’000
25/26
12,000
32,155
2,324
67,457
26/27
13,000
13,631
1,705
66,826
27/28
8,500
14,180
1,618
61,146
28/29
13,000
15,544
1,634
58,602
29/30
8,000
15,823
1,290
50,779
30/31
2,500
11,843
976
41,436
Future borrowings can be considered to fund the increasing capital works program of which the cost
would be borne across current and future generations.
The following ratios are to be used in determining the amount of borrowings.
Ratio
Indicator
Threshold
Debt servicing ratio
Debt servicing cost to total revenue
5%
Debt commitment ratio
Debt servicing cost and redemption cost to rate revenue
10%
Debt exposure ratio
Total indebtedness to total realisable assets
40%
Indebtedness ratio
Net operating cash flows to underlying revenue (Council is not overly
reliant on debt to fund capital programs)
40%
Debt servicing ratio
Debt servicing cost/total revenue
This ratio expresses the amount of interest paid as a percentage of Council’s total revenue.
Debt commitment ratio
Debt servicing cost and redemption cost/rate revenue
This ratio expresses the percentage of rate revenue utilised to pay interest and redeem debt
principal.
Debt exposure ratio
Total indebtedness/total realisable assets
This ratio enables assessment of Council’s solvency and exposure to debt. The total indebtedness
refers to the total liabilities of Council. Total liabilities are compared to total realisable assets which
are all Council assets not subject to any restriction and are able to be realised. The ratio expresses
the percentage of total liabilities for each dollar of realisable assets.
Indebtedness ratio
Non-current liabilities/underlying revenue
This ratio provides comparison of non-current liabilities (mainly loans) to own source revenue. The
higher the percentage, the less able to cover non-current liabilities from the revenues Council
generates itself.
Refer to Section 4 for details of the loan borrowing financial indicators.

image
24
5.3 R
ESERVES
S
TRATEGY
5.3.1 Current Reserves
5.3.1.1 Public Open Space Fund Reserve
This reserve services funds from developer contributions collected through Council’s planning
scheme. The funds held in the reserve will be utilised through infrastructure works for the identified
purpose.
5.3.1.2 Developer Contributions Plan – Brimbank and Sunshine Reserve
This reserve is set up to cater for contributions from developers within the municipality.
5.3.1.3 Asset Revaluation
Council measures certain assets and liabilities at fair value where required or permitted by
Australian Accounting Standards, AASB 13 Fair Value Measurement. Where assets are revalued, the
revaluation increments are credited directly to the Asset Revaluation Reserve except to the extent
that an increment reverses a prior year decrement for that class of asset that had been recognised
as an expense.
5.3.1.4 Loan Repayment
At the Ordinary Council Meeting on 27 May 2014, Council resolved to participate in the Municipal
Association of Victoria Debt Procurement Project for interest only debt. In order to repay the
principal at maturity date Council has established a loan repayment reserve for interest only debt.
There will be allocations of set amounts of funds each year to this reserve.
5.3.1.5 Major Capital Works Projects
This reserve has been opened to provide a source of funding for major capital works projects.
5.3.2 Reserve Usage Projections
The following table outlines the 10 year projection of each reserve fund.
20/21
21/22
22/23
23/24
24/25
25/26
26/27
27/28
28/29
29/30
30/31
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
$’000
Public Open Space
Opening balance
2,093
2,093
2,093
2,126
2,165
2,204
2,244
2,285
2,326
2,369
2,412
Transfer to reserve
1,890
1,890
1,923
1,962
2,001
2,041
2,082
2,123
2,166
2,209
2,253
Transfer from reserve
(1,890)
(1,890)
(1,890)
(1,923)
(1,962)
(2,001)
(2,041)
(2,082)
(2,123)
(2,166)
(2,209)
Closing balance
2,093
2,093
2,126
2,165
2,204
2,244
2,285
2,326
2,369
2,412
2,456
Development Contributions
Opening balance
1,690
2,070
1,750
1,765
1,782
1,800
1,818
1,837
1,856
1,875
1,895
Transfer to reserve
1,180
860
875
893
910
929
947
966
985
1,005
1,025
Transfer from reserve
(800)
(1,180)
(860)
(875)
(893)
(910)
(929)
(947)
(966)
(985)
(1,005)
Closing balance
2,070
1,750
1,765
1,782
1,800
1,818
1,837
1,856
1,875
1,895
1,915