Long TermFinancial Plan2021/22 - 2030/31

Acknowledgement of

CountryWe acknowledge the Noongar people

who are the traditional custodians

of this land and pay our respects

to Elders, both past and present.

We acknowledge and respect their

continuing culture and the contribution

they make to this region.

2 | Long Term Financial Plan 2021/22 - 2030/31

Contents

4 Shire President’s Message

6 Executive Summary

8 Denmark in Profile

9 Every Dollar Counts

11 Long Term Financial Plan Objective

12 Capital Projects Timeline

13 Basis for Preparation of the Long Term Financial Plan

14 External Influences and Key Risks

15 Economic Assumptions

17 Key Elements of the Financial Statements

21 Key Financial Indicators

26 Key Financial Statements

27 Statement of Comprehensive Income by Nature or Type

28 Rate Setting Statement

29 Statement of Financial Position

30 Statement of Changes in Equity

31 Statement of Operational Funding

32 Statement of Capital Funding

Appendix

33 Reserves Table

3Long Term Financial Plan 2021/22 - 2030/31 |

Electronic copies of the Long Term Financial Plan are available for download at www.denmark.wa.gov.au. Copies of this document are also available in alternative formats upon request.

Shire President’s

MessageCouncil presents the 2021/22 - 2030/31 Long Term Financial Plan to ensure, through these challenging times, that the Shire can continue to support services to the community and advance the capital works program.

The vision and aspirations of the community as set out in Denmark 2027 continue to drive the operations of the Shire, including guiding the building of the Long Term Financial Plan.

It is nearly four years since we held extensive community consultations to build the Strategic Community Plan, Denmark 2027. Council will undertake a review of the plan next year with a focus on understanding emerging issues and concerns, while confirming the community vision and aspirations of the community for the next 10 years.

Through our long term planning, Council is committed to supporting Denmark’s local economy.

We value the key contribution local contractors, businesses and community groups make by partnering with us to deliver critical services and infrastructure developments. With that in mind, Council has established, as one of the guiding principles of the plan, that Council will be responsive to prevailing economic conditions and adjust capital project timeframes in order to support the local economy.

In summary, this Long Term Financial Plan outlines a responsible, balanced and progressive approach to the longer term financial management of our Shire, ensuring future generations inherit a strong and healthy financial footprint.

Cr Ceinwen Gearon Shire President

4 | Long Term Financial Plan 2021/22 - 2030/31

The vision and aspirations of the community as set

out in Denmark 2027 continue to drive the

operations of the Shire.

5Long Term Financial Plan 2021/22 - 2030/31 |

Executive

SummaryThe Long Term Financial Plan (LTFP) is a key strategic document that demonstrates the alignment between the Shire’s organisational capacity and the community’s vision and aspirations as outlined in Denmark 2027.

The Local Government Act 1995 requires all local governments to plan for the future. The 10 year rolling LTFP is a key element of the planning framework that informs directional documents such as the Corporate Business Plan and Annual Budget, to deliver on the priorities set in the Strategic Community Plan Denmark 2027.

As part of the annual review of the adopted 2019 LTFP, management recommended the plan be rebuilt.

The following factors were recognised in this LTFP rebuild:

• The direct impact the Covid-19 pandemic has had on the Shire’s operations, revenues and financial projections

• Managements need to have better control over the informing data to improve the accuracy of the modelling of the LTFP

• Council’s desire to better understand the mechanisms of the LTFP

• The recommendations from a review of the principles and assumptions used in the adopted 2019 LTFP

• The Shire’s evolving understanding of the asset renewal requirements across all asset classes to meet acceptable levels of service and the financial implications of implementing the necessary maintenance, renewal and upgrade programs

6 | Long Term Financial Plan 2021/22 - 2030/31

The LTFP recognises that to maintain the functionality and effectiveness of the Shire’s range of assets, increased funding needs to be allocated to capital renewal. As such, Council has adopted, as one of the guiding principles of the LTFP, that revenue and expenditure are structured with the goal of achieving the future renewal of assets within their planned useful life. This principle will ensure that funding commitments better align to asset depreciation. Strict monitoring and management of operations is essential to maintain this level of expenditure within a tight financial environment.

The 2021/22 - 2030/31 LTFP achieves the following outcomes:

• Rates increase of 4% annually

• Total new borrowings forecast at $5.159M

• Capital works program of $54.2M. A program that includes delivering updated Ocean Beach and Prawn Rock Channel community facilities, redevelopment of Berridge Park public amenities and youth precinct, Civic Centre and Library upgrades, and sharing the upgrading of oval facilities at the Denmark Senior High School

The LTFP sets a positive path for the future, including substantial investment of funding for the renewal of infrastructure. In addition, the Shire would benefit from developing strategies for alternative revenue streams and reviewing existing service levels throughout the life of the plan to improve the Shire’s resilience with consideration for future financial challenges.

This plan provides a sound financial foundation, but is also one that can, and should, be enhanced through effective financial management and timely leadership interventions. This will strengthen the Shire’s financial position in future iterations of the plan to ensure sustainable and reliable ongoing delivery of services to the community.

David Schober Chief Executive Officer

7Long Term Financial Plan 2021/22 - 2030/31 |

Economy

$260M

$15.8M 32.5%

742

750,000

Education and Training

Gross Regional Product

Value of development applications

Value of Shire procurement to local business

Local businesses

Visitor nights in region

Largest industry

Denmark

in Profile

Environment and Land

186,007

33%

35%

29.8%

35%

10.1%

15.3%

716

70%

2,393

4,097 6,370land area (hectares)

Share of population over 60 (Regional WA 20.6%)

Recycling compliance

Community members volunteer

Curbside collection diverted from landfill

Tertiary study and young workforce 18-34 (Regional WA 20.6%)

Land in agriculture

Emergency service volunteers

Land in remnant vegetation

Local jobs

ratable properties population

8 | Sustainability Strategy 2021-2031

Every Dollar

Counts

$38Rates

$18Fees & Charges

$3Other Revenue

$41Grants & Contributions

The Shire of Denmark raises funds from a range of sources each year to deliver projects and services throughout the Shire. Here’s a breakdown of where every $100 dollars spent in our Shire in the 2020/2021 Financial Year came from.

Where every $100 comes from

9Long Term Financial Plan 2021/22 - 2030/31 |

The objective of the Long Term Financial Plan (LTFP) is to meet the aspirations of the Community Strategic Plan, Denmark 2027, through fiscal responsibility.

10 | Long Term Financial Plan 2021/22 - 2030/31

Long Term

Financial Plan ObjectiveThe objective of the Long Term Financial Plan (LTFP) is to meet the aspirations of the Community Strategic Plan, Denmark 2027, through fiscal responsibility.

It guides our approach to building and maintaining infrastructure and delivering services to the community, while demonstrating our commitment to managing our operations in a fiscally responsible and sustainable manner. The plan achieves this objective by projecting the Shire’s financial position over a 10 year period using a series of realistic financial assumptions.

The LTFP is built using data from the 2021/22 adopted budget to establish the current base financial position of the Shire. From this position, the 10 year plan is built with the general principles that full staffing levels are achieved and service standards are maintained throughout the term of the LTFP. Modelling then builds on this with future information relating to:

• Strategic Community Plan priorities and initiatives

• Corporate Business Plan actions and initiatives

• Asset Management Plan for land and buildings, transport and recreation infrastructure

• Workforce planning

• Capital project plans and proposals

• Plant replacement programs

• Information communication and technology renewal and upgrade program

• Projections for consistency in or changes to the proposed range of services

• Discretionary capital revenue projections

• Anticipated government grants and subsidies

Financial modelling provides the Shire with appropriate information to identify potential challenges and to ensure that there are adequate resources to maintain operations, in addition to funding capital replacement programs and proposed new capital projects. This is particularly important to ensure that the community is not adversely impacted in future years by service delivery constraints or a significant deterioration in the condition of community infrastructure.

The major elements to be considered in the long-term financial planning exercise are:

• Operational service delivery

• Asset renewal, upgrade and replacement

• Discretionary capital projects

In the LTFP context, operational service delivery refers to developing the funding model that ensures that planned services to our community can be consistently and reliably delivered to an agreed standard across the 10 years of the plan.

Asset renewal planning ensures that an appropriate level of funding is provided to maintain infrastructure assets to an agreed standard through timely intervention and maintenance across the life of the plan. When modelling the LTFP, upgrade of assets usually refers to major enhancements to community buildings and facilities.

Discretionary capital projects refers to major new projects that may emerge through master planning exercises such as new buildings, new infrastructure and facility redevelopment. The capital works timeline below outlines the projects that are factored into the LTFP.

11Long Term Financial Plan 2021/22 - 2030/31 |

Capital Projects

Timeline

2022

2023

2024

2025

2026+

Lights Beach Development

Lights Beach Road

Mountain Bike Trail

Waste Facility Upgrade

Library and Civic Centre Upgrade

McLean Park Recreation Centre Upgrade

Aquatic Facility

Peaceful Bay Water System

Administration Building Upgrade

Ocean Beach Recreation Precinct Redevelopment

Nornalup Jetty

High School Oval Facilities Upgrade

Berridge Park Redevelopment

2021

12 | Long Term Financial Plan 2021/22 - 2030/31

Basis for Preparation of the

Long Term Financial PlanThe Long Term Financial Plan (LTFP) is underpinned by the following guiding principles. Guiding principles are a set of values set out by Council to establish the framework for the LTFP.

1. The LTFP is a key informing strategic document that aims to deliver the aspirations of Denmark 2027

2. The LTFP and the Corporate Business Plan are the guiding strategies to build the Annual Budget

3. Financial sustainability and accountability are delivered through an annual balanced budget

4. Reserve funds are maintained to achieve their purpose and intent

5. Revenue and expenditure are structured with the goal of achieving the future renewal of assets within a planned useful life

6. Debt funding may be used for capital works or the purchase of assets, but is not to be used to finance operating activities or recurrent expenditure

7. The LTFP will manage our asset base to meet community needs as identified in the Strategic Community Plan

8. Within the LTFP annual review, Council will be responsive to prevailing economic conditions and adjust capital project timeframes to support the local economy

9. Rating revenue levels are set in order to produce a balanced budget

13

External Influences and

Key RisksOver the past 18 months few organisations have avoided the global impacts of Covid-19 and the corresponding economic responses from State and Federal Governments.

It is one of the key reasons why we are undertaking a significant review of the LTFP so soon after the first plan was adopted in 2019. Whilst rates, fees and charges were frozen in 2020/21 in response to the State Government directive, there was also additional project funding made available from Federal Government as a result of the drought and Covid-19 response respectively.

The past 12 months resulted in significant economic and social impacts as first the community was shut down during the initial stages and then reopened only to experience an unprecedented high demand on the tourism and hospitality sector. Contractors and builders are now experiencing additional pressure on their businesses as more State and Federal funding is released for civil and construction related works.

Risk analysis was undertaken as part of the financial modelling to develop this LTFP. The heavy reliance on project funding from State and Federal funding sources carries a risk that this funding may not eventuate or deliver less than anticipated, requiring a major rework of the capital works program.

There is also a risk that the proceeds from industrial land sales associated with Denmark East Light Industrial Area may not occur in the timeframes modelled in this plan.

Operational funding risks include the risk to movements in interest rates beyond those modelled in the plan. This would create a reduction in interest revenue from investments but conversely could result in more advantageous borrowing conditions. Other operational risks include the reduction or loss of grant funding supporting existing community services, changes in government policy or cost-shifting from State to Local Government. These risks will need to be managed on a case by case basis as they arise.

There are non-financial risks that may affect the delivery of planned major projects or maintenance activities such as limited contractor availability at the time of the scheduled works, the discovery of unknown hazardous materials during a project or delays with securing the required approvals from external agencies.

To responsibly manage its commitments arising from the LTFP the Shire should regularly review the Shire’s financial position and project funding strategies and monitor of the economic environment to allow timely and appropriate interventions.

14 | Long Term Financial Plan 2021/22 - 2030/31

Economic

AssumptionsProjects and Services

The plan is based on a number of financial assumptions relating to the anticipated movements in both revenue and expenditure, the anticipated timeframes for cash flows into and out of the organisation and expectations of any changes to existing grant funding assistance by both Federal and State Governments. Indicative funding or cost estimates included in this plan relate to broad proposals that have been:

• Approved by Council and are in progress, or

• Considered by Council but have yet to be given final approval to proceed, or

• Considered by Council at a strategic or conceptual level, or

• Operational in nature and based on the continued delivery of existing services, or

• Operational in nature and relate to the maintenance of Shire assets in accordance with management or maintenance plans

Any assumptions in relation to the financial modelling parameters, projects or service proposals may subsequently be shown to be imprecise in respect to likely funding requirements, timing or financial estimates or they may not eventuate at all. The LTFP is prepared with the best available information and is subject to ongoing annual review and revision. Adoption of the LTFP by Council does not constitute a commitment to any particular project or service, nor to its timing. Similarly, it does not preclude the possible subsequent inclusion of further initiatives in future years if the financial modelling and strategic direction of Council indicate that it could be supported without adversely impacting on the Shire’s financial sustainability.

Indexing

There were a number of financial parameters used to model this LTFP. Figures used in the financial model are based on current conditions or known factors and the forward projections allow for known or reasonably anticipated circumstances. Included in the financial assumptions are anticipated movements in relevant price indices, wages growth and interest rates as they relate to both investment returns and borrowing costs. Unanticipated changes in any of these parameters or in government policy directions have the potential to impact on the financial modelling. In addition, forecasting the recovery from Covid-19 adds a further level of uncertainty to the projections.

15Long Term Financial Plan 2021/22 - 2030/31 |

Economic

Assumptions (Cont.)Consumer Price Index

The Consumer Price Index (CPI) measures changes in the prices paid by consumers for a basket of goods and services. Whilst that may be a useful indicator of price changes for the average household, it is not a consistent and accurate measure of the cost increases impacting on a Local Government due to the broad range of services provided. As a result, it is only one of a number of index measures used in the forecasting. The CPI (Perth, Q1 2021) came in (year on year) at 1.0% with the longer term expectation that inflation will be within the RBA’s target band (2-3%) in the later quarters of 2021/22.

Local Government Cost Index

The Local Government Cost Index (LGCI), developed by the Western Australian Local Government Association (WALGA), takes into account economic components such as WA Wage Price Index, road and bridge construction, non-residential building, CPI, machinery and equipment, electricity and street lighting, insurance and other utility costs. The LGCI provides a more accurate indicator of cost movements affecting Local Government as it makes better distinction between operating and capital costs and uses price indices that align more closely to the nature of goods and services used. WALGA updates latest forecast (June 2021) indicating a rate of 3.2% for 2021/22 and 2.8% in 2022/23.

Population Growth

The Department of Planning, Lands and Heritage undertakes population forecasting every five years. WA Tomorrow Population Report No.11 contains the latest population forecasts by age and sex, for Western Australia and its regions. They represent the official WA State Government forecasts to 2031. The current estimate is that the Shire is on track to have 7090 residents by 2031, representing an annual increase of 1.3% over the next 10 years. The 2020 Estimated Residential Population data released by ABS showed a slight increase on these numbers as a result of migration to Denmark post pandemic. It is unclear how this trend will play out over coming years, but it may result in revised population growth forecasts in coming years.

16 | Long Term Financial Plan 2021/22 - 2030/31

Key Elements of the

Financial StatementsThe plan achieves a balanced budget for each financial year.

Operating income and expenditures are projected to have steady growth over the next 10 years. Any operating surplus generated at the end of the year will be carried forward and/or placed into reserves to provide funds for expenditure on asset renewal, replacement and provision of new assets to enhance the long-term financial sustainability of the Shire.

Revenue

Rates

The previous version of the LTFP assumed no rates base growth year-on-year. The updated version of the LTFP has factored in a rates base growth of 0.35% in the 2021/22 and 2022/23 financial year and then forecasts an increase of 0.2% for the remainder of the plan. Changes in valuations have not been factored into the calculation of rates.

Due to subdued growth in fees and charges, coupled with demand to increase asset renewal expenditure and maintain existing service levels, a key assumption of a 4% annual rate increase after 2021/22 is contained within the LTFP.

Historical and Planned Rates Annual Increase

Operating Grants

Operating grants are modelled based on the 2021/22 adopted budget estimate, with a 1.5% indexation applied annually. The main annual operating grants received are:

• Grants Commission General $566,460

• Grants Commission Roads $526,885

• Main Roads Direct (untied) $127,200

• Mitigation Activity Fund $497,000

• Bushfire Brigades $165,000

• DFES SES Brigades $20,000

Fees & Charges

An increase of 3% is modelled in the first four years of the plan with year five and beyond modelled with a 2% annual increase. Some listed fees and charges are statutory and are determined by the relevant Government bodies so are outside the Shire’s control. Some of the main revenue earning fees and charges are:

• Waste Management

• Lime Sand Sales

• Peaceful Bay Leases

• Parry Beach Camping Fees

• Department of Transport - Licensing Commission

Waste Services

In 2021, the Shire presented a Waste Services Action Plan to Council that reviewed the Shire’s waste management systems. The Action Plan detailed key steps to progress to a more sustainable waste services model with improved waste management outcomes. The basis of funding the revised waste services model is a $70 general minimum fee levied to all rateable properties commencing in 2021/22. This minimum fee will be reviewed on an annual basis to meet Council and community expectations with regards to the waste services provision.

-2

0

2

4

6

8

10

12

2024

/25

2023

/24

2022

/23

2021

/22

2020

/21

2019

/20

2018

/19

2017

/18

2016

/17

2015

/16

2014

/15

2013

/14

2012

/13

17Long Term Financial Plan 2021/22 - 2030/31 |

Key Elements of the

Financial Statements (Cont.)Peaceful Bay

The Shire of Denmark has control and management of Reserve 24510, with the power to lease for periods not exceeding 21 years. The Shire’s records suggest that 203 leases apply to the subject land, generating approximately $368,000 annual revenue. All of the leases were renewed in July 2010 and expire concurrently in 2031. The LTFP assumes that the income from Peaceful Bay will continue and as such we need to ensure that this revenue stream is maintained. The Shire is investigating staggering the leases or offering new 21 year leases on property transfer similar to Windy Harbour in the Shire of Manjimup.

Ocean Beach Lime Pit

The Ocean Beach Lime Pit provides a valuable resource while also producing an income stream for the Shire. The Shire currently produces 15,000 tonne of high-grade agricultural lime sand annually and generates approximately $180,000 in profit. At some point, the Shire will exhaust the deposit at this site and will investigate alternative income streams.

Interest Earnings

Interest earnings from investments are based on historical information and Western Australian Treasury Corporation forecasts for the next three years which are 2021/22 at 0.5%, 2022/23 at 1.00%, 2023/24 at 1.00%. Year four and beyond assumes an average rate for interest earnings of 2%.

Proceeds from Asset Disposal

The LTFP assumes the sales of five industrial land blocks owned by the Shire in the Denmark East Light Industrial Area. The total revenue yield from the sale of these blocks is predicted at $1,850,000 and are currently scheduled for sale in 2023/24, 2026/27 and 2027/28.

Other Revenue

The majority of other income revenue relates to reimbursements, rebates and sale of miscellaneous items and to some degree is linked to specific expenditure levels. The plan assumes a 2% increase per annum over the life of the plan.

Non-Operating Grants & Subsidies

The Shire of Denmark receives as significant amount of non-operating income annually through the Regional Road Group. The funding is allocated competitively based upon predetermined criteria.

Non-operating grants are project specific and are therefore linked to specific capital project budgets and adjusted consistently. The Shire needs to ensure that applications made are renewal focused and well-aligned to the selection criteria to ensure ongoing funding success under this program. The failure to maintain funding levels under this program will impact the Shire’s ability to pay for our workforce and achieve the desired expenditure levels required under the Asset Management Plan.

As mentioned earlier, reliance on grant funding as a major element of the funding equation carries a risk. Funding streams may not eventuate, be highly competitive or may result in a lesser amount than anticipated.

Expenses

Employee Expenses

Employee expenses are indexed at 2.5% which include salary and wages increases in addition to changes to the Superannuation Guarantee is legislated to be increased from 9.5% to 12% between July 2021 and July 2025. There are no allowances for increases to the staffing structure over the life of the LTFP, other than the possibility of contract staff attached to a particular project for its duration.

Materials and Contracts

Materials and contracts have generally been modelled by applying a 2% indexation, however specific line items have been adjusted to take known or anticipated factors into account. These include increased costs for waste management (landfill, waste processing and recycling costs), reductions to project specific consulting fees and changes to operating initiatives to align with Corporate Business Plan priorities. Adjustments have been made for expenses that recur only in certain years, such as election expenses and triennial Gross Rental Value revaluations.

Utility Expenses

While electricity represents the largest component of utilities expenditure, savings have been achieved by the installation of solar panels on the Shire Administration building and installation of LED lights at the Recreation Centre. Utility expenses are generally modelled by applying the LGCI Index component of 2.5% for the life of the plan.

Insurance Expenses

Insurance expenses are modelled by applying a 2% indexation.

18 | Long Term Financial Plan 2021/22 - 2030/31

Other Expenditure

These expenses are generally modelled using an estimated 1% increase on the base year.

Depreciation

Depreciation assets such as property, plant, equipment, vehicles, infrastructure and land are valued at Fair Value in the Balance Sheet of the Shire. These assets have been depreciated on a straight line method using current depreciation rates.

Debt Management

Loan borrowings use a financing facility available to Local Governments to sustainably meet long-term community needs, particularly in respect to major capital works projects. The Local Government Act (1995) empowers the Shire to borrow within a financial strategy as part of a balanced funding structure and is included in the Shire’s LTFP where appropriate.

The use of long-term borrowings is strongly influenced by the competing needs of building new community assets, upgrading infrastructure and funding projects where insufficient funds are available to meet the capital outlays. This plan requires new borrowings of $5.159M in the 10 year term of the plan for the following:

• Denmark Surf Club 2021/22 $1,769,225

• Rubbish Truck 2021/22 $510,000

• Admin Building 2024/25 $1,000,000

• CivicCentre/Library 2027/28 $1,500,000

• Rubbish Truck 2028/29 $380,000

This plan will see the Shire’s debt peak at $4.58M in 2027/28 and has a loan balance at the end of 10 years of $3.261M.

Long Term Debt Balances

Reserves

Financial reserves are considered an appropriate mechanism to sustainably manage a Local Government’s long-term financial stability. Reserves help to avoid the need for large or irregular rates movements in the years that relevant projects are delivered, spreading or smoothing the financial impacts. The accumulation of funds in reserve accounts over a 10 year period provides the Shire with capacity to meet community demands into the future. The list of reserve accounts currently held by the Shire are:

• Lime Quarry Rehabilitation Reserve

• Parry Inlet Reserve

• Cemetery Reserve

• Employee Leave Entitlements Reserve

• Land and Infrastructure Reserve

• Plant Replacement Reserve

• Waste Services Reserve

• Parks and Gardens Reserve

• Aquatic Facility Development Reserve

• Lionsville Reserve

• Peaceful Bay Reserve

• Recreation Centre Reserve

• Denmark East Development Reserve

• Strategic Reserve

• ICT Reserve

• Legal Contingency Reserve

Long Term Reserves Balances

0

500000

1500000

1000000

2000000

2500000

3500000

3000000

4000000

4500000

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

0

6000000

5000000

4000000

3000000

2000000

1000000

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

19Long Term Financial Plan 2021/22 - 2030/31 |

Key Elements of the

Financial Statements (Cont.)Asset Renewal

The effective management of assets is crucial to the sustainable delivery of Local Government services. Assets need to serve the needs of the community, in alignment with the Strategic Community Plan. There is a need to plan and prioritise the maintenance, renewal and replacement of existing assets and where appropriate, the acquisition of new assets. This requires a long-term ‘whole of life’ view of asset management.

Given the prioritisation of ‘renew’ over ‘new’ when managing assets, proposals for new discretionary capital projects will require that a whole of life costing is prepared, including a proposed funding model showing indicative contributions from each funding source, whether that be municipal funds, grants, loan borrowings and reserve funds, before the project is considered for endorsement and inclusion in future revisions of the LTFP. This will ensure that a financially sustainable approach is being maintained for the renewal and expansion of the Shire’s assets to meet the ongoing needs of the community.

Capital Expenditure

Capital expenditure is modelled to achieve an immediate improvement to the level of renewal expenditure on the Shires’ infrastructure, property, plant and equipment assets. The Shire’s capital expenditure works program aims to meet infrastructure service requirements of the Shire for the future. Renewal or upgrade of existing infrastructure and the creation of new assets has been included in developing this plan.

This plan provides for an ambitious capital works program of $54.1M (indexed) over the 10 year period, which will require borrowings of $5.159M to achieve this program. To achieve the major projects of $20.55M as part of the Capital Works Program, there is a reliance on State and Federal governments making substantial grants available. Failure to secure these funds would mean some of these major projects may not proceed.

21/22/23 Denmark Surf Club/Precinct

$8,000,000

21/22 Nornalup Jetty / Various Footpaths

$400,000

22/23 Mountain Bike Trail $1,000,000

24/25 Berridge Park Toilets/Skate Park

$2,000,000

24/25 DSHS Facilities $250,000

25/26 Admin Building $1,000,000

25/26 Waste Facility Upgrades

$1,000,000

26/27 McLean Park Rec Centre

$2,000,000

27/28 Civic Centre Library $4,600,000

29/30 Waste Facility Capping Works

$300,000

The Major Projects expected over the life the plan:

20 | Long Term Financial Plan 2021/22 - 2030/31

Key Financial

IndicatorsMeasuring Our Financial Performance

The Local Government (Financial Management ) Regulations 1996 requires all Local Governments in Western Australia to calculate seven key ratios.

These ratios cover financial and asset management performance and form the basis for assessing the financial health of the Shire. There has been recent industry wide concern that some of the ratios may not be appropriate for all tiers of Local Government based on the size and scale of operations. As such, there may be changes in the future as to which ratios are required to be reported under the Local Government Financial Management Regulations. Until such time, the current ratios will continue to be monitored and used to inform local discussion with the community as to the affordability of Local Government services and capital works projects into the future and the implications on the overall financial health of the Shire.

It should be noted that there is no single ratio that delineates the financial sustainability of a Local Government, and it is not necessarily detrimental for any one ratio to move outside of the preferred benchmark. Both the trend of the ratio and the operational activity driving the denominator and numerator values in the ratio calculation, need to be understood to properly inform discussion.

21Long Term Financial Plan 2021/22 - 2030/31 |

Key Financial

Indicators (Cont.)Ratios

Current Ratio

This ratio measures liquidity and our ability to meet our short-term financial obligations from unrestricted current assets. The ratio target is between 100% and 120%. While we are lower than the target benchmark during the 10 year plan, this is not considered a threat to the Shire’s long-term financial position as the current ratio is only a short-term liquidity measure.

Operating Surplus Ratio

This ratio measures the extent to which revenue raised not only covers operational expenses, but also provides for capital funding. The ratio target is between 0% and 15%.

While improving over the 10 years, our result does not meet the benchmark. Indicating that our Shire is reliant on grant funding to undertake capital projects. As the Shire receives grant funding for the renewal of assets, a negative ratio is not viewed as an adverse position for a Tier Three Local Government. While the ratio is below the target, it improves over the term of the plan, indicating an improving operating position.

Actual Target

0%

-30%

-20%

-10%

0%

10%

20%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

Calculation Current Ratio = Current Assets less restricted assets / Current liability less liability associated with restricted assets

Calculation – Net operating surplus / Own source operating revenue

Actual Target

0%

20%

40%

60%

80%

100%

120%

140%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

22 | Long Term Financial Plan 2021/22 - 2030/31

Own Source Coverage Ratio

This ratio measures the extent to which we can cover costs through our own revenue efforts (rates, fees and charges etc). The ratio target is between 40% and 60%.

Debt Service Coverage Ratio

This ratio measures the extent to which we can generate sufficient cash to cover our debt payments. The ratio target is 200% or higher. Modelling indicates that we exceed this benchmark due to our relatively low borrowing level over the 10 years, indicating that we have the capacity to take out further loans should we need to.

Actual Target

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

Actual Target

0%

100%

200%

300%

400%

500%

600%

700%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

Calculation – Annual operating result before interest and depreciation / Annual debt service payments (both principal and interest)

Calculation – Annual operating result before interest and depreciation / Annual debt service payments (both principal and interest)

23Long Term Financial Plan 2021/22 - 2030/31 |

Key Financial

Indicators (Cont.)Asset Sustainability Ratio

This ratio looks to the past and asks “Are our assets being replaced at the rate they are wearing out?”

The ratio has a target band of between 90% and 110%. A result lower than this indicates that we are deferring the renewal of our assets. Deferment is problematic as these deferral costs continue to accumulate, leaving a large bill for future generations. A result higher than this suggests we are spending more money on assets than we need to, by renewing them before they wear out.

Results indicate that we do not meet this benchmark on average over the 10 years, due to a high depreciation value being attributed to our transport network. At present the depreciation rate is set at 2.5% for transport assets, indicating that roads, paths, drains etc, do not last longer than 40 years. We will be reviewing the useful lives of our assets.

Asset Consumption Ratio

This ratio looks at the present and asks “What is the aged condition of our assets?” by comparing what our assets are currently worth against what they are worth as new. The ratio has a target band of between 50% and 70%. A result lower than this indicates that overall our assets are relatively aged or may not have been maintained. A result higher than this means that the assets base is being kept in very good condition or is relatively new.

Our results indicate that we meet this benchmark on average over the 10 years, however, the ratio shows a decline over the life of the plan. This is due to a high depreciation value being attributed to our transport network. At present the depreciation rate is set at 2.5% for transport assets, indicating that roads, paths, drains etc do not last longer than 40 years. We will be reviewing the useful lives of our assets.

Actual Target

0%

50%

100%

150%

200%

250%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

Actual Target

0%

10%

30%

20%

40%

50%

60%

70%

80%

21-22 22-23 23-24 24-25 25-26 26-27 27-28 28-29 29-30 30-31

Calculation – Asset renewal expenditure / Asset depreciation

Calculation – Depreciated replacement cost (Fair value) of depreciated assets / Current replacement cost of depreciable assets

24 | Long Term Financial Plan 2021/22 - 2030/31

Asset Renewal Funding Ratio

This ratio looks to the future and asks “Is there sufficient funding for the renewal and replacement of our assets?”

The ratio has a target band of between 75% and 96%, which means for every dollar that we need to spend, we have at least 75c to 96c available in our LTFP. A result less than this means we do not have enough money (eg: a result of 40% means that for every dollar we need to spend, we only have 40c available). Accordingly, an outcome higher than this means we have surplus funds allocated which could be diverted to address other needs.

This ratio is calculated using Net Present Value (the value of future dollars) and due to the calculation, only five years can be estimated. Our results indicate that we meet this benchmark on average over the five years, having on average 92c available for every dollar we need to spend.

Actual Target

21-220%

20%

40%

22-23 23-24 24-25 25-26

60%

80%

100%

120%

Calculation – NPV of planned renewal expenditure / NPV of asset management plan projections

25Long Term Financial Plan 2021/22 - 2030/31 |

27 Statement of Comprehensive Income by Nature or Type

28 Rate Setting Statement

29 Statement of Financial Position

30 Statement of Changes in Equity

31 Statement of Operational Funding

32 Statement of Capital Funding

Appendix

33 Reserves Table

Key Financial

Statements

26 | Sustainability Strategy 2021-2031

Statement of Comprehensive Income

by Nature or Type1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$Re

venu

eRa

tes

7,05

3,66

2

7,

335,

308

7,62

8,21

0

7,

922,

818

8,23

9,40

0

8,

568,

639

8,91

1,04

1

9,

267,

131

9,63

7,45

9

10

,022

,592

Op

erat

ing

gran

ts, s

ubsid

ies a

nd co

ntrib

utio

ns3,

289,

288

2,22

2,29

2

2,

259,

477

2,29

7,29

6

2,

335,

762

2,37

4,88

6

2,

414,

678

2,45

5,15

0

2,

496,

315

2,53

8,18

5

Fe

es a

nd ch

arge

s3,

458,

312

3,56

2,06

1

3,

668,

923

3,77

8,99

1

3,

892,

361

3,97

0,20

8

4,

049,

612

4,13

0,60

4

4,

213,

216

4,29

7,48

1

In

tere

st e

arni

ngs

72,9

08

72

,209

71,7

81

71

,617

72,1

49

72

,692

73,2

46

73

,711

74,1

85

74

,669

Othe

r rev

enue

188,

487

19

2,25

7

196,

102

20

0,02

4

204,

024

20

8,10

5

212,

267

21

6,51

2

220,

843

22

5,25

9

14,0

62,6

57

13,3

84,1

26

13,8

24,4

92

14,2

70,7

46

14,7

43,6

97

15,1

94,5

30

15,6

60,8

43

16,1

43,1

09

16,6

42,0

18

17,1

58,1

86

Expe

nses

Empl

oyee

cost

s(6

,939

,943

)(6

,738

,075

)(6

,906

,526

)(7

,079

,190

)(7

,256

,169

)(7

,437

,573

)(7

,623

,513

)(7

,814

,101

)(8

,009

,453

)(8

,209

,689

)M

ater

ials

and

cont

ract

s(5

,502

,014

)(3

,849

,363

)(3

,891

,490

)(3

,963

,379

)(4

,031

,150

)(4

,149

,376

)(4

,156

,139

)(4

,243

,299

)(4

,381

,547

)(4

,464

,079

)Ut

ility

char

ges

(220

,985

)(2

26,5

10)

(232

,172

)(2

37,9

77)

(243

,926

)(2

50,0

24)

(256

,275

)(2

62,6

82)

(269

,249

)(2

75,9

80)

Depr

ecia

tion

on n

on-c

urre

nt a

sset

s(3

,820

,875

)(4

,019

,635

)(4

,164

,799

)(4

,248

,109

)(4

,338

,424

)(4

,438

,267

)(4

,555

,196

)(3

,562

,337

)(3

,688

,529

)(3

,773

,081

)In

tere

st e

xpen

ses

(123

,877

)(1

26,1

28)

(112

,932

)(1

10,7

18)

(107

,392

)(9

3,99

5)(1

03,9

56)

(116

,740

)(1

05,5

61)

(91,

911)

Insu

ranc

e ex

pens

es(4

27,6

79)

(433

,440

)(4

42,1

09)

(450

,951

)(4

59,9

70)

(469

,169

)(4

78,5

53)

(488

,124

)(4

97,8

86)

(507

,844

)Ot

her e

xpen

ditu

re(4

45,3

00)

(449

,753

)(4

54,2

51)

(458

,793

)(4

63,3

81)

(468

,015

)(4

72,6

95)

(477

,422

)(4

82,1

96)

(487

,018

)(1

7,48

0,67

3)(1

5,84

2,90

4)(1

6,20

4,27

9)(1

6,54

9,11

6)(1

6,90

0,41

1)(1

7,30

6,42

0)(1

7,64

6,32

6)(1

6,96

4,70

4)(1

7,43

4,42

0)(1

7,80

9,60

2)Ne

t Res

ults

from

Ope

ratio

ns(3

,418

,016

)(2

,458

,778

)(2

,379

,787

)(2

,278

,370

)(2

,156

,714

)(2

,111

,890

)(1

,985

,483

)(8

21,5

94)

(792

,402

)(6

51,4

16)

Non-

oper

atin

g gr

ants

, sub

sidie

s and

cont

ribut

ions

4,41

1,10

3

5,

800,

822

3,31

5,24

2

1,

236,

528

1,15

1,53

1

2,

959,

182

3,91

6,91

0

1,

174,

715

1,49

0,59

1

1,

198,

553

Prof

it on

disp

osal

of a

sset

s54

,000

065

0,00

00

060

0,00

060

0,00

00

00

Loss

on

disp

osal

of a

sset

s(3

4,00

0)0

00

00

00

00

NET

RESU

LT1,

013,

087

3,34

2,04

4

1,

585,

455

(1,0

41,8

41)

(1,0

05,1

83)

1,44

7,29

2

2,

531,

427

353,

121

698,

189

547,

137

Othe

r com

preh

ensiv

e in

com

e0

00

00

00

00

0

TOTA

L COM

PREH

ENSI

VE IN

COM

E1,

013,

087

3,34

2,04

4

1,

585,

455

(1,0

41,8

41)

(1,0

05,1

83)

1,44

7,29

2

2,

531,

427

353,

121

698,

189

547,

137

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST S

TATE

MEN

T OF

COM

PREH

ENSI

VE IN

COM

E - B

Y NA

TURE

OR

TYPE

FOR

THE

PERI

OD 2

021/

22 -

2030

/31

27Long Term Financial Plan 2021/22 - 2030/31 |

Rate Setting

Statement1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$Ne

t cur

rent

ass

ets c

/fw

d - s

urpl

us/(

defic

it)1,

553,

964

0

00

00

00

00

OPER

ATIN

G AC

TIVI

TIES

Reve

nue

from

ope

ratin

g ac

tiviti

es

Oper

atin

g gr

ants

, sub

sidie

s and

cont

ribut

ions

3,28

9,28

8

2,22

2,29

2

2,25

9,47

7

2,29

7,29

6

2,33

5,76

2

2,37

4,88

6

2,41

4,67

8

2,45

5,15

0

2,49

6,31

5

2,53

8,18

5

Fees

and

char

ges

3,45

8,31

2

3,56

2,06

1

3,66

8,92

3

3,77

8,99

1

3,89

2,36

1

3,97

0,20

8

4,04

9,61

2

4,13

0,60

4

4,21

3,21

6

4,29

7,48

1

Inte

rest

ear

ning

s72

,908

72

,209

71

,781

71

,617

72

,149

72

,692

73

,246

73

,711

74

,185

74

,669

Ot

her r

even

ue18

8,48

7

19

2,25

7

19

6,10

2

20

0,02

4

20

4,02

4

20

8,10

5

21

2,26

7

21

6,51

2

22

0,84

3

22

5,25

9

Pr

ofit

on a

sset

disp

osal

s54

,000

0

650,

000

00

600,

000

600,

000

00

07,

062,

995

6,

048,

818

6,

846,

282

6,

347,

928

6,

504,

297

7,

225,

891

7,

349,

803

6,

875,

978

7,

004,

559

7,

135,

594

Expe

nditu

re fr

om o

pera

ting

activ

ities

Empl

oyee

cost

s(6

,939

,943

)(6

,738

,075

)(6

,906

,526

)(7

,079

,190

)(7

,256

,169

)(7

,437

,573

)(7

,623

,513

)(7

,814

,101

)(8

,009

,453

)(8

,209

,689

)M

ater

ials

and

cont

ract

s(5

,502

,014

)(3

,849

,363

)(3

,891

,490

)(3

,963

,379

)(4

,031

,150

)(4

,149

,376

)(4

,156

,139

)(4

,243

,299

)(4

,381

,547

)(4

,464

,079

)Ut

ility

char

ges

(220

,985

)(2

26,5

10)

(232

,172

)(2

37,9

77)

(243

,926

)(2

50,0

24)

(256

,275

)(2

62,6

82)

(269

,249

)(2

75,9

80)

Depr

ecia

tion

on n

on-c

urre

nt a

sset

s(3

,820

,875

)(4

,019

,635

)(4

,164

,799

)(4

,248

,109

)(4

,338

,424

)(4

,438

,267

)(4

,555

,196

)(3

,562

,337

)(3

,688

,529

)(3

,773

,081

)In

tere

st e

xpen

ses

(123

,877

)(1

26,1

28)

(112

,932

)(1

10,7

18)

(107

,392

)(9

3,99

5)(1

03,9

56)

(116

,740

)(1

05,5

61)

(91,

911)

Insu

ranc

e ex

pens

es(4

27,6

79)

(433

,440

)(4

42,1

09)

(450

,951

)(4

59,9

70)

(469

,169

)(4

78,5

53)

(488

,124

)(4

97,8

86)

(507

,844

)Ot

her e

xpen

ditu

re(4

45,3

00)

(449

,753

)(4

54,2

51)

(458

,793

)(4

63,3

81)

(468

,015

)(4

72,6

95)

(477

,422

)(4

82,1

96)

(487

,018

)Lo

ss o

n di

spos

al o

f ass

ets

(34,

000)

00

00

00

00

0(1

7,51

4,67

3)(1

5,84

2,90

4)(1

6,20

4,27

9)(1

6,54

9,11

6)(1

6,90

0,41

1)(1

7,30

6,42

0)(1

7,64

6,32

6)(1

6,96

4,70

4)(1

7,43

4,42

0)(1

7,80

9,60

2)Op

erat

ing

activ

ities

exc

lude

d fro

m b

udge

tPr

ofit

on d

ispos

al o

f ass

ets

(54,

000)

0(6

50,0

00)

00

(600

,000

)(6

00,0

00)

00

0Lo

ss o

n di

spos

al o

f ass

ets

34,0

00

00

00

00

00

0M

ovem

ent i

n lia

bilit

ies a

ssoc

iate

d w

ith re

stric

ted

cash

115,

871

00

00

00

00

0De

prec

iatio

n an

d am

ortis

atio

n on

ass

ets

3,82

0,87

5

4,01

9,63

5

4,16

4,79

9

4,24

8,10

9

4,33

8,42

4

4,43

8,26

7

4,55

5,19

6

3,56

2,33

7

3,68

8,52

9

3,77

3,08

1

Amou

nt a

ttrib

utab

le to

ope

ratin

g ac

tiviti

es(6

,534

,932

)(5

,774

,450

)(5

,843

,198

)(5

,953

,079

)(6

,057

,691

)(6

,242

,262

)(6

,341

,327

)(6

,526

,389

)(6

,741

,332

)(6

,900

,927

)

INVE

STIN

G AC

TIVI

TIES

Non-

oper

atin

g gr

ants

, sub

sidie

s and

cont

ribut

ions

4,41

1,10

3

5,80

0,82

2

3,31

5,24

2

1,23

6,52

8

1,15

1,53

1

2,95

9,18

2

3,91

6,91

0

1,17

4,71

5

1,49

0,59

1

1,19

8,55

3

Proc

eeds

from

disp

osal

of a

sset

s14

7,00

0

11

7,50

0

73

0,00

0

10

5,00

0

17

2,00

0

80

3,50

0

66

6,00

0

16

3,00

0

94

,500

72

,000

Pr

ocee

ds fr

om se

lf su

ppor

ting

loan

s22

,872

23

,729

22

,474

21

,061

21

,756

22

,473

23

,214

23

,979

24

,769

25

,586

Pu

rcha

se o

f pro

pert

y, p

lant

and

equ

ipm

ent

(5,3

52,6

50)

(3,9

66,1

00)

(1,4

15,9

50)

(1,8

20,2

70)

(1,1

07,5

12)

(3,6

69,6

88)

(5,6

26,6

43)

(1,7

66,9

10)

(1,5

14,9

24)

(959

,600

)Pu

rcha

se a

nd co

nstr

uctio

n of

infra

stru

ctur

e(3

,620

,551

)(3

,698

,864

)(3

,878

,954

)(1

,908

,757

)(2

,799

,002

)(1

,917

,142

)(2

,389

,891

)(1

,962

,981

)(2

,668

,899

)(2

,135

,608

)Am

ount

attr

ibut

able

to in

vest

ing

activ

ities

(4,3

92,2

26)

(1,7

22,9

13)

(1,2

27,1

88)

(2,3

66,4

37)

(2,5

61,2

27)

(1,8

01,6

74)

(3,4

10,4

11)

(2,3

68,1

97)

(2,5

73,9

62)

(1,7

99,0

69)

FINA

NCIN

G AC

TIVI

TIES

Repa

ymen

t of d

eben

ture

s(2

72,5

05)

(316

,301

)(3

24,6

23)

(370

,075

)(4

10,4

74)

(366

,544

)(4

18,1

86)

(458

,090

)(4

31,4

15)

(396

,171

)Re

paym

ent o

f lon

g te

rm le

ases

(102

,490

)(8

3,88

9)(1

9,97

2)(1

0,29

5)0

00

00

0Pr

ocee

ds fr

om n

ew d

eben

ture

s2,

279,

225

0

01,

000,

000

0

01,

500,

000

38

0,00

0

0

0Tr

ansf

ers t

o re

serv

es (r

estr

icted

ass

ets)

(731

,612

)(7

58,4

77)

(757

,008

)(7

57,4

35)

(769

,701

)(8

75,0

33)

(799

,626

)(8

30,7

35)

(826

,802

)(9

94,0

26)

Tran

sfer

s fro

m re

serv

es (r

estr

icted

ass

ets)

1,14

6,91

4

1,32

0,72

3

543,

779

534,

503

1,55

9,69

2

716,

875

558,

509

536,

280

936,

052

67,6

00

Amou

nt a

ttrib

utab

le to

fina

ncin

g ac

tiviti

es2,

319,

532

162,

056

(557

,824

)39

6,69

837

9,51

7(5

24,7

02)

840,

697

(372

,545

)(3

22,1

65)

(1,3

22,5

96)

Surp

lus(

defic

ienc

y) b

efor

e ge

nera

l rat

es(7

,053

,662

)(7

,335

,308

)(7

,628

,210

)(7

,922

,819

)(8

,239

,401

)(8

,568

,639

)(8

,911

,041

)(9

,267

,131

)(9

,637

,459

)(1

0,02

2,59

2)TO

TAL A

MOU

NT R

AISE

D FR

OM R

ATES

7,05

3,66

2

7,33

5,30

8

7,62

8,21

0

7,92

2,81

8

8,23

9,40

0

8,56

8,63

9

8,91

1,04

1

9,26

7,13

1

9,63

7,45

9

10,0

22,5

92

Net c

urre

nt a

sset

s c/f

wd

- sur

plus

/(de

ficit)

00

00

00

00

00

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FIN

ANCI

AL P

LAN

FORE

CAST

RAT

E SE

TTIN

G ST

ATEM

ENT

FOR

THE

PERI

OD 2

021/

22 -

2030

/31

28 | Long Term Financial Plan 2021/22 - 2030/31

Statement of

Financial Position1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$CU

RREN

T AS

SETS

Cash

and

cash

equ

ival

ents

805,

164

70

1,58

4

701,

584

70

1,58

4

701,

583

70

1,58

3

701,

583

70

1,58

4

701,

584

70

1,58

3

Rest

ricte

d ca

sh -

Rese

rves

4,23

8,35

4

3,

676,

108

3,88

9,33

7

4,

112,

269

3,32

2,27

8

3,

480,

436

3,72

1,55

3

4,

016,

008

3,90

6,75

8

4,

833,

184

Rest

ricte

d ca

sh -

Bond

s & D

epos

its H

eld

937,

720

93

7,72

0

937,

720

93

7,72

0

937,

720

93

7,72

0

937,

720

93

7,72

0

937,

720

93

7,72

0

Trad

e an

d ot

her r

ecei

vabl

es1,

738,

345

1,71

4,61

6

1,

692,

142

1,67

1,08

1

1,

649,

326

1,63

0,83

8

1,

607,

624

1,58

3,64

5

1,

558,

876

1,53

3,29

0

In

vent

orie

s13

6,87

7

136,

877

13

6,87

7

136,

877

13

6,87

7

136,

877

13

6,87

7

136,

877

13

6,87

7

136,

877

TO

TAL C

URRE

NT A

SSET

S7,

856,

459

7,16

6,90

5

7,

357,

660

7,55

9,53

1

6,

747,

784

6,88

7,45

4

7,

105,

357

7,37

5,83

4

7,

241,

814

8,14

2,65

4

NON-

CURR

ENT

ASSE

TSOt

her r

ecei

vabl

es55

4,90

0

554,

900

57

4,87

2

585,

167

58

5,16

7

585,

167

58

5,16

7

585,

167

58

5,16

7

585,

167

Ri

ght o

f Use

Ass

ets

114,

158

30

,267

10

,295

0

0

0

0

0

0

0

Inve

stm

ents

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

53,5

16

Prop

erty

, pla

nt a

nd e

quip

men

t33

,223

,808

35

,300

,180

34

,771

,536

34

,582

,339

33

,542

,449

34

,964

,699

38

,383

,231

38

,860

,260

39

,046

,889

38

,644

,689

In

frast

ruct

ure

64,3

78,1

49

65,8

29,6

06

67,4

08,3

55

66,9

73,4

69

67,4

09,4

49

66,9

32,2

62

66,9

09,0

68

66,4

36,5

94

66,6

50,7

59

66,3

03,0

86

TOTA

L NON

-CUR

RENT

ASS

ETS

98,3

24,5

30

101,

768,

469

10

2,81

8,57

4

102,

194,

492

10

1,59

0,58

2

102,

535,

644

10

5,93

0,98

3

105,

935,

537

10

6,33

6,33

1

105,

586,

458

TOTA

L ASS

ETS

106,

180,

990

10

8,93

5,37

4

110,

176,

234

10

9,75

4,02

3

108,

338,

366

10

9,42

3,09

9

113,

036,

340

11

3,31

1,37

1

113,

578,

145

11

3,72

9,11

2

CURR

ENT

LIABI

LITIE

STr

ade

and

othe

r pay

able

s(3

,494

,795

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)(3

,307

,328

)Cu

rren

t por

tion

of lo

ng te

rm b

orro

win

gs(2

72,5

05)

(316

,301

)(3

24,6

23)

(370

,075

)(4

10,4

74)

(366

,544

)(4

18,1

86)

(458

,090

)(4

31,4

15)

(396

,171

)Cu

rren

t por

tion

of le

ases

(83,

889)

(19,

972)

(10,

295)

00

00

00

0Pr

ovisi

ons

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

(1,2

28,5

32)

TOTA

L CUR

RENT

LIAB

ILITI

ES(5

,079

,721

)(4

,872

,133

)(4

,870

,778

)(4

,905

,935

)(4

,946

,334

)(4

,902

,404

)(4

,954

,046

)(4

,993

,950

)(4

,967

,275

)(4

,932

,031

)

NON-

CURR

ENT

LIABI

LITIE

SPa

yabl

es(4

30,2

38)

(430

,238

)(4

30,2

38)

(430

,238

)(4

30,2

38)

(430

,238

)(4

30,2

38)

(430

,238

)(4

30,2

38)

(430

,238

)Lo

ng te

rm b

orro

win

gs(3

,600

,483

)(3

,240

,385

)(2

,907

,440

)(3

,491

,913

)(3

,041

,040

)(2

,718

,426

)(3

,748

,598

)(3

,630

,604

)(3

,225

,865

)(2

,864

,938

)No

n cu

rren

t por

tion

of le

ases

(30,

269)

(10,

295)

(0)

(0)

(0)

(0)

(0)

(0)

(0)

(0)

Prov

ision

s(1

27,7

71)

(127

,771

)(1

27,7

71)

(127

,771

)(1

27,7

71)

(127

,771

)(1

27,7

71)

(127

,771

)(1

27,7

71)

(127

,771

)TO

TAL N

ON-C

URRE

NT LI

ABILI

TIES

(4,1

88,7

61)

(3,8

08,6

90)

(3,4

65,4

50)

(4,0

49,9

23)

(3,5

99,0

50)

(3,2

76,4

36)

(4,3

06,6

08)

(4,1

88,6

14)

(3,7

83,8

75)

(3,4

22,9

48)

TOTA

L LIA

BILIT

IES

(9,2

68,4

82)

(8,6

80,8

23)

(8,3

36,2

28)

(8,9

55,8

58)

(8,5

45,3

84)

(8,1

78,8

40)

(9,2

60,6

54)

(9,1

82,5

64)

(8,7

51,1

49)

(8,3

54,9

79)

NET

ASSE

TS96

,912

,508

10

0,25

4,55

2

101,

840,

007

10

0,79

8,16

5

99,7

92,9

83

101,

244,

259

10

3,77

5,68

7

104,

128,

807

10

4,82

6,99

7

105,

374,

134

EQUI

TYRe

tain

ed su

rplu

s27

,412

,670

31

,316

,960

32

,689

,186

31

,424

,413

31

,209

,221

32

,502

,339

34

,792

,650

34

,851

,316

35

,658

,755

35

,279

,466

Re

serv

es -

cash

bac

ked

4,23

8,35

5

3,

676,

108

3,88

9,33

7

4,

112,

269

3,32

2,27

8

3,

480,

436

3,72

1,55

3

4,

016,

008

3,90

6,75

8

4,

833,

184

Reva

luat

ion

surp

lus

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

TOTA

L EQU

ITY

96,9

12,5

08

100,

254,

552

10

1,84

0,00

7

100,

798,

165

99

,792

,983

10

1,24

4,25

9

103,

775,

687

10

4,12

8,80

7

104,

826,

997

10

5,37

4,13

4

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FIN

ANCI

AL P

LAN

FORE

CAST

STAT

EMEN

T OF

FINA

NCIA

L POS

ITIO

NFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

29Long Term Financial Plan 2021/22 - 2030/31 |

Statement of

Changes in Equity1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$

RETA

INED

SUR

PLUS

Open

ing

Bala

nce

25,9

84,2

81

27,4

12,6

70

31

,316

,960

32,6

89,1

86

31

,424

,413

31

,209

,221

32,5

02,3

39

34

,792

,650

34,8

51,3

16

35

,658

,755

Net R

esul

t1,

013,

087

3,34

2,04

4

1,58

5,45

5(1

,041

,841

)(1

,005

,183

)1,

451,

277

2,53

1,42

735

3,12

169

8,18

954

7,13

7Am

ount

tran

sfer

red

(to)/

from

Res

erve

s41

5,30

2

562,

246

(213

,229

)(2

22,9

32)

789,

991

(158

,158

)(2

41,1

17)

(294

,455

)10

9,25

0(9

26,4

26)

Clos

ing

Bala

nce

27,4

12,6

70

31

,316

,960

32

,689

,186

31

,424

,413

31

,209

,221

32,5

02,3

39

34,7

92,6

50

34,8

51,3

16

35,6

58,7

55

35,2

79,4

66

RESE

RVES

- CA

SH/I

NVES

TMEN

T BA

CKED

Open

ing

Bala

nce

4,65

3,65

6

4,

238,

354

3,

676,

108

3,

889,

337

4,

112,

269

3,32

2,27

8

3,48

0,43

6

3,72

1,55

3

4,01

6,00

8

3,90

6,75

8

Amou

nt tr

ansf

erre

d (to

)/fro

m R

etai

ned

Surp

lus

(415

,302

)(5

62,2

46)

213,

229

222,

932

(789

,991

)15

8,15

824

1,11

729

4,45

5(1

09,2

50)

926,

426

Clos

ing

Bala

nce

4,23

8,35

5

3,67

6,10

8

3,

889,

337

4,11

2,26

9

3,

322,

278

3,

480,

436

3,72

1,55

3

4,

016,

008

3,90

6,75

8

4,

833,

184

REVA

LUAT

ION

SURP

LUS

Open

ing

Bala

nce

65,2

61,4

84

65,2

61,4

84

65

,261

,484

65,2

61,4

84

65

,261

,484

65

,261

,484

65,2

61,4

84

65

,261

,484

65,2

61,4

84

65

,261

,484

Tota

l Oth

er C

ompr

ehen

sive

Inco

me

-

-

-

-

-

-

-

-

-

-

Clos

ing

Bala

nce

65,2

61,4

84

65

,261

,484

65

,261

,484

65

,261

,484

65

,261

,484

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

65,2

61,4

84

TOTA

L EQU

ITY

96,9

12,5

08

10

0,25

4,55

2

10

1,84

0,00

7

10

0,79

8,16

6

99

,792

,983

101,

244,

259

103,

775,

687

104,

128,

808

104,

826,

997

105,

374,

133

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST S

TATE

MEN

T OF

CHA

NGES

IN E

QUIT

YFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

30 | Long Term Financial Plan 2021/22 - 2030/31

Statement of

Operational Funding1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1TO

TAL

$$

$$

$$

$$

$$

$Fu

ndin

g fro

m O

pera

tiona

l Act

iviti

esRe

venu

eRa

tes

7,05

3,66

3

7,33

5,30

8

7,62

8,21

0

7,92

2,81

8

8,23

9,40

0

8,56

8,63

9

8,91

1,04

1

9,26

7,13

1

9,63

7,45

9

10,0

22,5

92

84

,586

,261

Oper

atin

g gr

ants

, sub

sidie

s and

cont

ribut

ions

3,28

9,28

8

2,22

2,29

2

2,25

9,47

7

2,29

7,29

6

2,33

5,76

2

2,37

4,88

6

2,41

4,67

8

2,45

5,15

0

2,49

6,31

5

2,53

8,18

5

24,6

83,3

29

Pr

ofit

on a

sset

disp

osal

54,0

00

-

650,

000

-

-

600,

000

600,

000

-

-

-

1,90

4,00

0

Fees

and

char

ges

3,45

8,31

2

3,56

2,06

1

3,66

8,92

3

3,77

8,99

1

3,89

2,36

1

3,97

0,20

8

4,04

9,61

2

4,13

0,60

4

4,21

3,21

6

4,29

7,48

1

39,0

21,7

69

In

tere

st e

arni

ngs

72,9

08

72,2

09

71,7

81

71,6

17

72,1

49

72,6

92

73,2

46

73,7

11

74,1

85

74,6

69

729,

167

Othe

r rev

enue

188,

487

192,

257

196,

102

200,

024

204,

024

208,

105

212,

267

216,

512

220,

843

225,

259

2,06

3,88

0

14,1

16,6

58

13

,384

,126

14,4

74,4

92

14

,270

,746

14,7

43,6

97

15

,794

,530

16,2

60,8

43

16

,143

,109

16,6

42,0

18

17

,158

,186

152,

988,

406

Ex

pens

esEm

ploy

ee co

sts

(6,9

39,9

43)

(6,7

38,0

75)

(6,9

06,5

26)

(7,0

79,1

90)

(7,2

56,1

69)

(7,4

37,5

73)

(7,6

23,5

13)

(7,8

14,1

01)

(8,0

09,4

53)

(8,2

09,6

89)

(74,

014,

232)

Mat

eria

ls an

d co

ntra

cts

(5,5

02,0

14)

(3,8

49,3

63)

(3,8

91,4

90)

(3,9

63,3

79)

(4,0

31,1

50)

(4,1

49,3

76)

(4,1

56,1

39)

(4,2

43,2

99)

(4,3

81,5

47)

(4,4

64,0

79)

(42,

631,

836)

Utili

ty ch

arge

s(2

20,9

85)

(226

,510

)(2

32,1

72)

(237

,977

)(2

43,9

26)

(250

,024

)(2

56,2

75)

(262

,682

)(2

69,2

49)

(275

,980

)(2

,475

,779

)De

prec

iatio

n on

non

-cur

rent

ass

et(3

,820

,875

)(4

,019

,635

)(4

,164

,799

)(4

,248

,109

)(4

,338

,424

)(4

,438

,267

)(4

,555

,196

)(3

,562

,337

)(3

,688

,529

)(3

,773

,081

)(4

0,60

9,25

2)Lo

ss o

n as

set d

ispos

al(3

4,00

0)0

00

00

00

00

(34,

000)

Inte

rest

exp

ense

(123

,877

)(1

26,1

28)

(112

,932

)(1

10,7

18)

(107

,392

)(9

3,99

5)(1

03,9

56)

(116

,740

)(1

05,5

61)

(91,

911)

(1,0

93,2

10)

Insu

ranc

e ex

pens

e(4

27,6

79)

(433

,440

)(4

42,1

09)

(450

,951

)(4

59,9

70)

(469

,169

)(4

78,5

53)

(488

,124

)(4

97,8

86)

(507

,844

)(4

,655

,723

)Ot

her e

xpen

ditu

re(4

45,3

00)

(449

,753

)(4

54,2

51)

(458

,793

)(4

63,3

81)

(468

,015

)(4

72,6

95)

(477

,422

)(4

82,1

96)

(487

,018

)(4

,658

,823

)(1

7,51

4,67

3)(1

5,84

2,90

4)(1

6,20

4,27

9)(1

6,54

9,11

6)(1

6,90

0,41

1)(1

7,30

6,42

0)(1

7,64

6,32

6)(1

6,96

4,70

4)(1

7,43

4,42

0)(1

7,80

9,60

2)(1

70,1

72,8

56)

(3,3

98,0

15)

(2,4

58,7

78)

(1,7

29,7

87)

(2,2

78,3

70)

(2,1

56,7

14)

(1,5

11,8

90)

(1,3

85,4

83)

(821

,594

)(7

92,4

02)

(651

,416

)(1

7,18

4,44

9)Fu

ndin

g Po

sitio

n Ad

just

men

tsDe

prec

iatio

n on

non

-cur

rent

ass

ets

3,82

0,87

5

4,01

9,63

5

4,16

4,79

9

4,24

8,10

9

4,33

8,42

4

4,43

8,26

7

4,55

5,19

6

3,56

2,33

7

3,68

8,52

9

3,77

3,08

1

40,6

09,2

52

Ne

t pro

fit a

nd lo

sses

on

disp

osal

(20,

000)

0(6

50,0

00)

00

(600

,000

)(6

00,0

00)

00

0(1

,870

,000

)M

ovem

ent i

n pr

ovisi

ons

115,

871

00

00

00

00

011

5,87

1

Ne

t Fun

ding

from

Ope

ratio

nal A

ctiv

ities

3,91

6,74

6

4,

019,

635

3,51

4,79

9

4,

248,

109

4,33

8,42

4

3,

838,

267

3,95

5,19

6

3,

562,

337

3,68

8,52

9

3,

773,

081

38,8

55,1

23

51

8,73

0

1,56

0,85

8

1,

785,

012

1,96

9,73

9

2,

181,

710

2,32

6,37

7

2,

569,

713

2,74

0,74

2

2,

896,

127

3,12

1,66

5

Fu

ndin

g fro

m C

apita

l Act

iviti

esIn

flow

sPr

ocee

ds o

n di

spos

al14

7,00

0

11

7,50

0

73

0,00

0

10

5,00

0

17

2,00

0

80

3,50

0

66

6,00

0

16

3,00

0

94

,500

72

,000

3,

070,

500

No

n-op

erat

ing

gran

ts, s

ubsid

ies a

nd co

ntrib

utio

ns4,

411,

103

5,

800,

822

3,

315,

242

1,

236,

528

1,

151,

531

2,

959,

182

3,

916,

910

1,

174,

715

1,

490,

591

1,

198,

553

26

,655

,179

Outfl

ows

Proc

eeds

from

self

supp

ortin

g lo

ans

22,8

72

23,7

29

22,4

74

21,0

61

21,7

56

22,4

73

23,2

14

23,9

79

24,7

69

25,5

86

231,

912

Purc

hase

of p

rope

rty,

pla

nt a

nd e

quip

men

t(5

,352

,650

)(3

,966

,100

)(1

,415

,950

)(1

,820

,270

)(1

,107

,512

)(3

,669

,688

)(5

,626

,643

)(1

,766

,910

)(1

,514

,924

)(9

59,6

00)

(27,

200,

247)

Purc

hase

of i

nfra

stru

ctur

e(3

,620

,551

)(3

,698

,864

)(3

,878

,954

)(1

,908

,757

)(2

,799

,002

)(1

,917

,142

)(2

,389

,891

)(1

,962

,981

)(2

,668

,899

)(2

,135

,608

)(2

6,98

0,64

8)Ne

t Fun

ding

from

Cap

ital A

ctiv

ities

(4,3

92,2

26)

(1,7

22,9

13)

(1,2

27,1

88)

(2,3

66,4

37)

(2,5

61,2

27)

(1,8

01,6

74)

(3,4

10,4

11)

(2,3

68,1

97)

(2,5

73,9

62)

(1,7

99,0

69)

(24,

223,

305)

Fund

ing

from

Fina

ncin

g Ac

itivi

tes

Inflo

ws

Tran

sfer

from

rese

rves

1,14

6,91

4

1,32

0,72

3

543,

779

534,

503

1,55

9,69

2

716,

875

558,

509

536,

280

936,

052

67,6

00

7,92

0,92

7

Ne

w B

orro

win

gs2,

279,

225

-

-

1,

000,

000

-

-

1,

500,

000

38

0,00

0

-

-

5,

159,

225

Outfl

ows

Tran

sfer

s to

rese

rves

(731

,612

)(7

58,4

77)

(757

,008

)(7

57,4

35)

(769

,701

)(8

75,0

33)

(799

,626

)(8

30,7

35)

(826

,802

)(9

94,0

26)

(8,1

00,4

54)

Repa

ymen

t of p

ast b

orro

win

gs(2

72,5

05)

(316

,301

)(3

24,6

23)

(370

,075

)(4

10,4

74)

(366

,544

)(4

18,1

86)

(458

,090

)(4

31,4

15)

(396

,171

)(3

,764

,383

)Re

paym

ent o

f lon

g te

rm le

ases

(102

,490

)(8

3,88

9)(1

9,97

2)(1

0,29

5)0

00

00

0(2

16,6

46)

Net F

undi

ng fr

om Fi

nanc

ing

Activ

ities

2,31

9,53

216

2,05

6(5

57,8

24)

396,

698

379,

517

(524

,702

)84

0,69

7(3

72,5

45)

(322

,165

)(1

,322

,596

)99

8,66

8

Estim

ated

Sur

plus

/Def

icit J

uly

1 B/

Fwd

1,55

3,96

4

0

0

0

0

0

0

0

0

0

Fu

ndin

g Av

aila

ble

/ (to

be

sour

ced)

0

0

0

0

0

0

0

0

0

0

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST S

TATE

MEN

T OF

OPE

RATI

ONAL

FUND

ING

FOR

THE

PERI

OD 2

021/

22 -

2030

/31

31Long Term Financial Plan 2021/22 - 2030/31 |

Statement of

Capital Funding1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1TO

TAL

$$

$$

$$

$$

$$

$Ca

pita

l Exp

endi

ture

Road

s2,

715,

687

1,33

2,55

3

1,85

3,18

3

1,27

8,30

6

1,40

1,87

7

1,41

4,43

1

1,87

7,12

6

1,43

9,96

0

1,55

1,78

5

1,56

3,72

8

16,4

28,6

35

Foot

path

s10

0,00

0

1,15

9,18

1

150,

000

15

0,00

0

168,

294

17

2,30

3

175,

749

17

9,26

4

182,

123

18

5,37

3

2,62

2,28

7

Dr

aina

ge-

53,0

60

54

,122

55,2

04

56

,308

57,4

34

58

,583

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60

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61,7

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51

6,96

5

Ot

her I

nfra

stru

ctur

e80

4,86

4

1,15

4,07

0

1,82

1,64

9

425,

247

1,

172,

523

27

2,97

4

278,

433

28

4,00

2

874,

283

32

4,71

6

7,41

2,76

1

Bu

ildin

gs4,

240,

000

3,05

0,00

0

1,00

3,95

0

1,05

0,00

0

300,

000

2,

719,

313

5,

145,

343

51

7,63

0

900,

000

60

0,00

0

19,5

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36

Furn

iture

and

Equ

ipm

ent

40,0

00

35

0,00

0

100,

000

50

,000

50,0

00

50

,000

50,0

00

50

,000

100,

000

10

0,00

0

940,

000

Plan

t and

Equ

ipm

ent

1,07

2,65

0

56

6,10

0

312,

000

72

0,27

0

757,

512

90

0,37

5

431,

300

1,

199,

280

51

4,92

4

259,

600

6,

734,

011

Tota

l - C

apita

l Exp

endi

ture

8,97

3,20

1

7,

664,

964

5,

294,

904

3,

729,

027

3,

906,

514

5,

586,

830

8,

016,

534

3,

729,

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4,

183,

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3,

095,

208

54

,180

,895

Fund

ed b

y:

Capi

tal G

rant

s and

Con

trib

utio

nsRo

ads

1,68

8,45

1

1,

050,

822

1,

515,

242

1,

136,

528

1,

151,

531

1,

159,

182

1,

616,

910

1,

174,

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1,

190,

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1,

198,

553

12

,882

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otpa

ths

100,

000

75

0,00

0

-

-

-

-

-

-

-

-

850,

000

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nage

-

-

-

-

-

-

-

-

-

-

-

Othe

r Inf

rast

ruct

ure

401,

877

1,

000,

000

1,

300,

000

10

0,00

0

-

-

-

-

-

-

2,80

1,87

7

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ildin

gs2,

220,

775

3,00

0,00

0

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-

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-

300,

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-

10,1

20,7

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ipm

ent

-

-

-

-

-

-

-

-

-

-

-

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t and

Equ

ipm

ent

-

-

-

-

-

-

-

-

-

-

-

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l - C

apita

l Gra

nts a

nd C

ontr

ibut

ions

4,41

1,10

3

5,

800,

822

3,

315,

242

1,

236,

528

1,

151,

531

2,

959,

182

3,

916,

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1,

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1,

490,

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1,

198,

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26

,655

,179

-

Ow

n So

urce

Fund

ing

-

Land

-

-

-

-

-

-

-

-

-

-

-

Road

s47

7,23

6

181,

731

33

7,94

1

141,

777

25

0,34

6

255,

248

26

0,21

6

265,

245

36

1,19

4

365,

175

2,

896,

109

Foot

path

s-

57,9

04

11

6,22

1

143,

310

74

,114

172,

303

62

,540

179,

264

96

,495

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087,

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nage

-

53

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54,1

22

55

,204

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08

57

,434

58,5

83

59

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08

61

,791

516,

965

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r Inf

rast

ruct

ure

309,

845

21

,224

301,

649

32

5,24

7

172,

523

27

2,97

4

278,

433

28

4,00

2

324,

283

32

4,71

6

2,61

4,89

6

Bu

ildin

gs20

0,00

0

-

26

6,05

0-

50

,000

300,

000

17

9,31

3

545,

343

51

7,63

0

600,

000

60

0,00

0

2,72

6,23

6

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rnitu

re a

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quip

men

t-

50,0

00

10

0,00

0

50,0

00

50

,000

50,0

00

50

,000

50,0

00

10

0,00

0

100,

000

60

0,00

0

Pl

ant a

nd E

quip

men

t15

0,00

0

150,

000

15

0,00

0

150,

000

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0,00

0

150,

000

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0,00

0

150,

000

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0,00

0

150,

000

1,

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Tota

l - O

wn

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ce Fu

ndin

g1,

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081

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919

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3

915,

538

1,

053,

291

1,

137,

272

1,

405,

115

1,

505,

896

1,

692,

680

1,

787,

055

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,941

,730

-

Bo

rrow

ings

-

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ings

1,76

9,22

5

-

-

1,

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1,

500,

000

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-

-

4,26

9,22

5

Pl

ant a

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quip

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0,00

0

-

-

-

-

-

-

380,

000

-

-

89

0,00

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tal -

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row

ings

2,27

9,22

5

-

-

1,

000,

000

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-

1,

500,

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0,00

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-

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5,15

9,22

5

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Re

serv

es-

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ads

550,

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10

0,00

0

-

-

-

-

-

-

-

-

650,

000

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path

s-

351,

277

33

,779

6,69

0

94,1

80

-

113,

209

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85,6

28

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684,

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-

-

-

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-

-

-

-

-

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ure

93,1

42

13

2,84

6

220,

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1,00

0,00

0

-

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0,00

0

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995,

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ings

50,0

00

50

,000

120,

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14

0,00

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-

-

560,

000

Furn

iture

and

Equ

ipm

ent

40,0

00

30

0,00

0

-

-

-

-

-

-

-

-

340,

000

Plan

t and

Equ

ipm

ent

265,

650

29

8,60

0

82,0

00

46

5,27

0

435,

512

54

6,87

5

215,

300

50

6,28

0

270,

424

37

,600

3,12

3,51

1

To

tal -

Res

erve

s99

8,79

2

1,23

2,72

3

455,

779

47

1,96

0

1,52

9,69

2

686,

875

52

8,50

9

506,

280

90

6,05

2

37,6

00

7,

354,

262

-

Othe

r (Di

spos

als a

nd C

/Fw

d)-

La

nd-

-

-

-

-

-

-

-

-

-

-

Bu

ildin

gs-

-

65

0,00

0

-

-

600,

000

60

0,00

0

-

-

-

1,

850,

000

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t and

Equ

ipm

ent

147,

000

11

7,50

0

80,0

00

10

5,00

0

172,

000

20

3,50

0

66,0

00

16

3,00

0

94,5

00

72

,000

1,22

0,50

0

To

tal -

Oth

er (D

ispos

als a

nd C

/Fw

d)14

7,00

0

117,

500

73

0,00

0

105,

000

17

2,00

0

803,

500

66

6,00

0

163,

000

94

,500

72,0

00

3,

070,

500

-

Tota

l Cap

ital F

undi

ng8,

973,

201

7,66

4,96

4

5,29

4,90

4

3,72

9,02

7

3,90

6,51

4

5,58

6,83

0

8,01

6,53

4

3,72

9,89

1

4,18

3,82

3

3,09

5,20

8

54,1

80,8

95

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST ST

ATEM

ENT

OF C

APIT

AL FU

NDIN

GFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

32 | Long Term Financial Plan 2021/22 - 2030/31

Appendix

i. Reserves Table1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$Em

ploy

ee E

ntitl

emen

ts R

eser

veOp

enin

g Ba

lanc

e44

8,41

044

9,30

745

0,20

645

1,10

645

2,00

845

4,26

845

8,81

146

5,69

347

4,07

648

3,54

8In

tere

st89

789

990

090

22,

260

4,54

36,

882

8,38

29,

472

14,4

92Tr

ansf

er to

0

00

00

00

00

0Tr

ansf

er fr

om0

00

00

00

00

0Cl

osin

g Ba

lanc

e44

9,30

745

0,20

645

1,10

645

2,00

845

4,26

845

8,81

146

5,69

347

4,07

648

3,54

849

8,04

0

Plan

t Res

erve

Open

ing

Bala

nce

586,

098

646,

620

674,

313

918,

661

780,

229

673,

618

458,

479

575,

056

404,

127

466,

778

Inte

rest

1,17

21,

293

1,34

91,

837

3,90

16,

736

6,87

710

,351

8,07

413

,989

Tran

sfer

to

325,

000

325,

000

325,

000

325,

000

325,

000

325,

000

325,

000

325,

000

325,

000

325,

000

Tran

sfer

from

(265

,650

)(2

98,6

00)

(82,

000)

(465

,270

)(4

35,5

12)

(546

,875

)(2

15,3

00)

(506

,280

)(2

70,4

24)

(37,

600)

Clos

ing

Bala

nce

646,

620

674,

313

918,

661

780,

229

673,

618

458,

479

575,

056

404,

127

466,

778

768,

167

Parr

y In

let R

eser

veOp

enin

g Ba

lanc

e19

8,44

819

4,84

520

5,23

521

5,64

522

6,07

723

7,20

724

9,57

926

3,32

327

8,06

329

3,61

8In

tere

st39

739

041

043

11,

130

2,37

23,

744

4,74

05,

556

8,80

0Tr

ansf

er to

10

,000

10,0

0010

,000

10,0

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,000

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,000

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,000

10,0

00Tr

ansf

er fr

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4,00

0)0

00

00

00

00

Clos

ing

Bala

nce

194,

845

205,

235

215,

645

226,

077

237,

207

249,

579

263,

323

278,

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293,

618

312,

418

Cem

eter

y Re

serv

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enin

g Ba

lanc

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118

00

00

00

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tere

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00

00

00

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0

00

00

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ansf

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om(2

,122

)0

00

00

00

00

Clos

ing

Bala

nce

00

00

00

00

00

Lime

Quar

ry R

ehab

ilita

tion

Rese

rve

Open

ing

Bala

nce

414,

700

385,

529

356,

300

327,

013

297,

667

269,

155

241,

847

215,

475

189,

353

163,

137

Inte

rest

829

771

713

654

1,48

82,

692

3,62

83,

879

3,78

34,

889

Tran

sfer

to

00

00

00

00

00

Tran

sfer

from

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

(30,

000)

Clos

ing

Bala

nce

385,

529

356,

300

327,

013

297,

667

269,

155

241,

847

215,

475

189,

353

163,

137

138,

026

Infra

stru

ctur

e Re

serv

eOp

enin

g Ba

lanc

e70

9,77

879

4,40

431

1,87

088

,715

232,

202

289,

183

535,

606

380,

431

554,

123

629,

566

Inte

rest

1,42

01,

589

624

177

1,16

12,

892

8,03

46,

848

11,0

7118

,868

Tran

sfer

to

133,

206

150,

000

150,

000

150,

000

150,

000

243,

531

150,

000

166,

844

150,

000

282,

097

Tran

sfer

from

(50,

000)

(634

,123

)(3

73,7

79)

(6,6

90)

(94,

180)

0(3

13,2

09)

0(8

5,62

8)0

Clos

ing

Bala

nce

794,

404

311,

870

88,7

1523

2,20

228

9,18

353

5,60

638

0,43

155

4,12

362

9,56

693

0,53

1

Was

te S

ervi

ces R

eser

veOp

enin

g Ba

lanc

e62

1,62

870

5,05

457

6,46

474

7,61

791

9,11

293

,707

264,

644

438,

614

616,

509

498,

827

Inte

rest

1,42

61,

410

1,15

31,

495

4,59

693

73,

970

7,89

512

,318

14,9

50Tr

ansf

er to

17

0,00

017

0,00

017

0,00

017

0,00

017

0,00

017

0,00

017

0,00

017

0,00

017

0,00

017

0,00

0Tr

ansf

er fr

om(8

8,00

0)(3

00,0

00)

00

(1,0

00,0

00)

00

0(3

00,0

00)

0Cl

osin

g Ba

lanc

e70

5,05

457

6,46

474

7,61

791

9,11

293

,707

264,

644

438,

614

616,

509

498,

827

683,

777

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST R

ESER

VES

MOV

EMEN

TFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

33Long Term Financial Plan 2021/22 - 2030/31 |

Appendix

i. Reserves Table (cont.)1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST R

ESER

VES

MOV

EMEN

TFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

Park

s and

Gar

dens

Res

erve

Open

ing

Bala

nce

78,9

850

00

00

00

00

Inte

rest

158

00

00

00

00

0Tr

ansf

er to

0

00

00

00

00

0Tr

ansf

er fr

om(7

9,14

2)0

00

00

00

00

Clos

ing

Bala

nce

00

00

00

00

00

Acqu

atic

Facil

ity D

evel

opm

ent R

eser

veOp

enin

g Ba

lanc

e96

,863

87,0

5797

,231

107,

425

117,

640

128,

229

139,

511

151,

603

164,

332

177,

616

Inte

rest

194

174

194

215

588

1,28

22,

093

2,72

93,

283

5,32

3Tr

ansf

er to

0

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

00Tr

ansf

er fr

om(1

0,00

0)0

00

00

00

00

Clos

ing

Bala

nce

87,0

5797

,231

107,

425

117,

640

128,

229

139,

511

151,

603

164,

332

177,

616

192,

939

Lions

ville

Res

erve

Open

ing

Bala

nce

205,

590

148,

001

90,2

9732

,478

00

00

00

Inte

rest

411

296

181

650

00

00

0Tr

ansf

er to

0

00

00

00

00

0Tr

ansf

er fr

om(5

8,00

0)(5

8,00

0)(5

8,00

0)(3

2,54

3)0

00

00

0Cl

osin

g Ba

lanc

e14

8,00

190

,297

32,4

780

00

00

00

Peac

eful

Bay

Res

erve

Open

ing

Bala

nce

209,

541

244,

960

280,

450

316,

011

351,

643

388,

401

427,

285

468,

694

512,

131

307,

363

Inte

rest

419

490

561

632

1,75

83,

884

6,40

98,

436

10,2

329,

212

Tran

sfer

to

35,0

0035

,000

35,0

0035

,000

35,0

0035

,000

35,0

0035

,000

35,0

0035

,000

Tran

sfer

from

00

00

00

00

(250

,000

)0

Clos

ing

Bala

nce

244,

960

280,

450

316,

011

351,

643

388,

401

427,

285

468,

694

512,

131

307,

363

351,

575

Rive

rmou

th C

arav

an P

ark

Rese

rve

Open

ing

Bala

nce

101,

213

106,

416

111,

629

116,

852

122,

086

127,

696

133,

973

140,

983

148,

520

156,

488

Inte

rest

202

213

223

234

610

1,27

72,

010

2,53

82,

967

4,69

0Tr

ansf

er to

5,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

0Tr

ansf

er fr

om0

00

00

00

00

0Cl

osin

g Ba

lanc

e10

6,41

511

1,62

911

6,85

212

2,08

612

7,69

613

3,97

314

0,98

314

8,52

015

6,48

816

6,17

8

Peac

eful

Bay

Car

avan

Par

k Re

serv

eOp

enin

g Ba

lanc

e63

,244

68,3

7073

,506

78,6

5383

,811

89,2

3095

,122

101,

549

108,

377

115,

542

Inte

rest

126

137

147

157

419

892

1,42

71,

828

2,16

53,

463

Tran

sfer

to

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

Tran

sfer

from

00

00

00

00

00

Clos

ing

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nce

68,3

7073

,506

78,6

5383

,811

89,2

3095

,122

101,

549

108,

377

115,

542

124,

005

34 | Long Term Financial Plan 2021/22 - 2030/31

Appendix

i. Reserves Table (cont.)1

23

45

67

89

10FY

21/2

2 FY

22/2

3FY

23/2

4FY

24/2

5FY

25/2

6FY

26/2

7FY

27/2

8FY

28/2

9FY

29/3

0FY

30/3

1$

$$

$$

$$

$$

$

SHIR

E OF

DEN

MAR

K - L

ONG

TERM

FINA

NCIA

L PLA

NFO

RECA

ST R

ESER

VES

MOV

EMEN

TFO

R TH

E PE

RIOD

202

1/22

- 20

30/3

1

Recr

eatio

n Ce

ntre

Res

erve

Open

ing

Bala

nce

95,6

8410

5,87

511

6,08

712

6,31

913

6,57

214

7,25

518

,727

29,0

0839

,530

50,3

20In

tere

st19

121

223

225

368

31,

473

281

522

790

1,50

8Tr

ansf

er to

10

,000

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

00Tr

ansf

er fr

om0

00

00

(140

,000

)0

00

0Cl

osin

g Ba

lanc

e10

5,87

511

6,08

712

6,31

913

6,57

214

7,25

518

,727

29,0

0839

,530

50,3

2061

,828

Denm

ark

East

Dev

elop

men

t Res

erve

Open

ing

Bala

nce

721,

357

171,

717

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

Inte

rest

360

343

00

00

00

00

Tran

sfer

to

00

00

00

00

00

Tran

sfer

from

(550

,000

)0

00

00

00

00

Clos

ing

Bala

nce

171,

717

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

172,

060

Stra

tegi

c Res

erve

Open

ing

Bala

nce

100,

000

105,

200

110,

410

115,

631

120,

862

126,

467

132,

731

139,

722

147,

237

155,

179

Inte

rest

200

210

221

231

604

1,26

51,

991

2,51

52,

942

4,65

1Tr

ansf

er to

5,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

05,

000

5,00

0Tr

ansf

er fr

om0

00

00

00

00

0Cl

osin

g Ba

lanc

e10

5,20

011

0,41

011

5,63

112

0,86

212

6,46

713

2,73

113

9,72

214

7,23

715

5,17

916

4,83

0

ICT

Rese

rve

Open

ing

Bala

nce

015

,000

30,0

3045

,090

60,1

8075

,481

91,2

3610

7,60

412

4,54

114

2,03

0In

tere

st0

3060

9030

175

51,

369

1,93

72,

488

4,25

7Tr

ansf

er to

15

,000

15,0

0015

,000

15,0

0015

,000

15,0

0015

,000

15,0

0015

,000

15,0

00Tr

ansf

er fr

om0

00

00

00

00

0Cl

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g Ba

lanc

e15

,000

30,0

3045

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60,1

8075

,481

91,2

3610

7,60

412

4,54

114

2,03

016

1,28

6

Lega

l Con

tinge

ncy

Rese

rve

Open

ing

Bala

nce

010

,000

20,0

2030

,060

40,1

2050

,321

60,8

2471

,736

83,0

2894

,686

Inte

rest

020

4060

201

503

912

1,29

11,

659

2,83

8Tr

ansf

er to

10

,000

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

0010

,000

10,0

00Tr

ansf

er fr

om0

00

00

00

00

0Cl

osin

g Ba

lanc

e10

,000

20,0

2030

,060

40,1

2050

,321

60,8

2471

,736

83,0

2894

,686

107,

524

TOTA

L RES

ERVE

BAL

ANCE

4,23

8,35

43,

676,

108

3,88

9,33

74,

112,

269

3,32

2,27

83,

480,

436

3,72

1,55

34,

016,

008

3,90

6,75

84,

833,

184

SUM

MAR

YOp

enin

g Ba

lanc

e4,

653,

656

4,23

8,35

43,

676,

108

3,88

9,33

74,

112,

269

3,32

2,27

83,

480,

436

3,72

1,55

34,

016,

008

3,90

6,75

8In

tere

st8,

406

8,47

77,

008

7,43

519

,701

31,5

0249

,626

63,8

9176

,802

111,

929

Tran

sfer

to

723,

206

750,

000

750,

000

750,

000

750,

000

843,

531

750,

000

766,

844

750,

000

882,

097

Tran

sfer

from

(1,1

46,9

14)

(1,3

20,7

23)

(543

,779

)(5

34,5

03)

(1,5

59,6

92)

(716

,875

)(5

58,5

09)

(536

,280

)(9

36,0

52)

(67,

600)

Clos

ing

Bala

nce

4,23

8,35

43,

676,

108

3,88

9,33

74,

112,

269

3,32

2,27

83,

480,

436

3,72

1,55

34,

016,

008

3,90

6,75

84,

833,

184

35Long Term Financial Plan 2021/22 - 2030/31 |

P: (08) 9848 0300

E: enquiries@denmark.wa.gov.au

953 South Coast Highway Denmark WA 6333

www.denmark.wa.gov.au

www.yourdenmark.wa.gov.au