2015-03-31 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                            31 MARCH 2015


Finance
5                        FINANCIAL PERFORMANCE REPORT - FEBRUARY 2015
DOCUMENT INFORM AT ION




Author                           Manager Financial Services, Wayne Jensen
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Exception Report

Attachments                      1.   Statement of Comprehensive Income
                                 2.   Capital Works Schedule


EXECUTIVE SUMMARY
Overall financial performance for the 8 months to the end of February 2015 shows a favourable
year-to-date variance against budget. It should be noted that the revised budget figures adopted
by Council at the 12 March 2015 Ordinary Meeting are not included in the year-to-date figures as
at 28 February, but are reflected in the current budget figures in the attachments. A further
revision of the 2014/15 budget will be undertaken using the actual revenue and expenditure
figures as at 31 March 2015.

Summary Financial Performance Statements
                                               Current Budget               Actual            Variance
                                                    YTD                      YTD                YTD
                                                     $                        $                  %
Operating Revenue                                     76,779,758               77,093,172            0.4%
Operating Expense                                     53,905,094               51,965,056            3.6%
Operating Result                                      22,874,665               25,128,116            9.9%
Capital Revenue                                        2,658,828                2,614,701            1.7%
Net Result                                            25,533,493               27,742,817            8.7%

Capital Works Program
YTD Actual                                $5,717,588
Expenditure
                                                                                                  YTD Actual
Remaining Capital                        $18,479,736                                             Expenditure
Expenditure                                                                                        23.63%
Full Year Budgeted                       $24,197,323
Expenditure                                                           Remaining
                                                                       Capital
                                                                     Expenditure
                                                                       76.37%




RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 31 March 2015 providing the February 2015 monthly financial
performance report.




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