2017-05-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     15 MAY 2017



2                        FINANCIAL PERFORMANCE REPORT - APRIL 2017
DOCUMENT INFORM AT ION




Author                           Director Corporate Services, Michael Shave
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                      1.   Statement of Comprehensive Income
                                 2.   Statement of Financial Position
                                 3.   Statement of Cash Flows


EXECUTIVE SUMMARY
Council’s year to date (YTD) operating financial performance against budget remains strong
heading into the final two months of the financial year, reflecting disciplined budget management
by staff and Council’s commitment to complying with its financial sustainability policy. Current
budget figures reflect the adjustments adopted by Council in the April meeting round.

         YTD Financial Performance Summary to April 2017
                                     Current YTD Actual                     Variance     Variance   Status
                                        YTD            $m                        $m          YTD
                                     Budget                                                    %
                                         $m
         Recurrent Revenue             $84.9         $86.4                        $1.5      1.7%    On track
         Recurrent Expense             $71.2         $69.6                        $1.6      2.3%    On track

         Net Capital Revenue                       $3.1           $8.3            $5.2      268%    On track
         Capital Expenditure                      $17.6          $10.3            $6.3       36%     Watch

Financial statements including Statement of Comprehensive Income (profit & loss), Statement of
Financial Position (balance sheet), and Statement of Cash Flows are included as attachments for
information of Council.

Figure 1: Actual Performance Compared to YTD Budget
               $100
                $90
                $80
                $70
                $60
                $50
                $40
                $30
                $20
                $10
                 $-
                                YTD Budget ($m)                    YTD Actual ($m)

                                Operating Revenue         Operating Expenditure




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