2021-07-15 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                  15 JULY 2021


4       FINANCIAL PERFORMANCE REPORT – JUNE 2021 INTERIM POSITION

Author             Manager Financial Services, Trent Grauf
                   Corporate Services Department

Index              ECM/ Subject/ 22.09 – Monthly Financial Performance Report

Attachments        1.   Statement of Income and Expenditure (Profit & Loss and Capital)
                   2.   Statement of Financial Position
                   3.   Statement of Cash Flows
                   4.   Summary of Materials and Services Expenditure



EXECUTIVE SUMMARY
Financial performance for the 2020/21 year has resulted in an interim operating surplus of $4.2
million, capital revenue of $14.3 million and capital expenditure of $24.0 million. Note that year-end
financial adjustments are still in progress with likely additional costs reflected in both the operating
and capital budgets, and will be reflected in the annual financial statements once finalised.

 Interim Annual Financial Performance Summary
                                 Budget         Actual       Variance    Variance        Status
                                    $m             $m             $m           %
 Operating Revenue                $101.2        $103.7           $2.5        2.5%    Above Budget
 Operating Expense                $102.1         $99.5           $2.6        2.5%    Below Budget
 Operating Position                 -$0.9          $4.2          $5.1     -539.5%
 Capital Revenue                   $15.2         $14.3          -$0.9        -6.2%   Below Budget
 Capital Expenditure               $31.2         $24.0           $7.2       23.1%    Below Budget

The $4.2 million interim operating surplus comprises both a $3.1 million general operating surplus
from activities that are funded through Council’s general rate and other fees / sales; as well an
additional $1.1 million in unspent levy and separate charge funds which are constrained in reserve
for future use.

                                                                               Actual
 Item
                                                                                  $m
 General business operating position (unconstrained funds)                       $3.1
 Unspent levies (constrained funds)                                              $1.1
 Total Council Operating Position                                                $4.2

The general operating surplus position is also augmented by a number of incomplete grant-funded
projects, where the unspent funds will carry over into the 2021/22 financial year at Budget Review 1
(BR1). This includes major funding programs such as the $1.3 million bushfire community recovery
grant.

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




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