2014-11-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         17 NOVEMBER 2014



3                         FINANCIAL PERFORMANCE REPORT OCTOBER 2014
DOCUMENT IN FOR MATI ON




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 as at 31 October 2014 shows a favourable year to date variance
but it should be noted that requested changes to the budget (as included in the report to the 11
November Planning and Organisation Committee meeting) are not yet included in the
comparative budget figures.

Summary Financial Performance Statements
                                                   Current Budget
                                                        YTD              Actual               Variance
                                                         $                YTD                   YTD
                                                                           $                     %
Total Operating Revenue                                37,416,923           38,171,982                    2.0%
Total Operating Expense                                26,753,247           26,043,359                    2.7%
Operating Result                                       10,663,676           12,128,623                   13.7%
Capital Revenue                                         1,833,378            1,951,064                    6.4%
Net Result                                             12,497,054           14,079,686                   12.7%

Capital Works Program
YTD Actual Expenditure                                 $2,220,309
Remaining Capital Expenditure                         $21,720,559
Full Year Budgeted Expenditure                        $23,940,868




RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 17 November 2014 providing the October monthly financial performance report.


REPORT
Each month a full review of Council’s financial performance against budget is undertaken to
highlight any variances, to ensure tight budgetary control, and to identify opportunities and risks
that may have arisen during the period.

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