2021-03-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                               15 MARCH 2021


   10   FINANCIAL PERFORMANCE REPORT - FEBRUARY 2021

   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
   Year to date (YTD) operating performance against current budget as at 28 February 2021 is
   positive, with operating revenues performing above forecast due largely to Council facilities
   and business activity sales outperforming COVID-19 budget assumptions. The budget
   review 3 (BR3) process, which addresses any realised budget variations or emergent
   requests, is currently underway and will be presented to the April round of Council meetings.

    YTD Financial Performance Summary
                             Budget        Actual     Variance      Variance       Status
                                $m            $m           $m             %
    Operating Revenue          $85.8        $90.6          $4.8         5.6%      On Track
    Operating Expense          $63.0        $62.8          $0.2         0.3%      On Track
    Operating Position         $22.8        $27.8          $5.0        21.7%
    Capital Revenue             $4.9         $7.1          $2.2        45.1%   Above Budget
    Capital Expenditure        $14.9        $15.2         -$0.4        -2.6%      On Track

   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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