Meeting papers

GENERAL COMMITTEE MEETING                                                                         14 APRIL 2025


8.1     FINANCIAL PERFORMANCE REPORT – MAR 2025


Author                Financial Services Manager, Pauline Coles
                      Financial Services | Corporate Services Department
Index                 ECM/ Subject / 22.09 – Monthly Financial Performance Report
Attachments           1.   Attachment 1 Statement of Income and Expenditure - Mar 2025
                      2.   Attachment 2 Statement of Financial Position - Mar 2025
                      3.   Attachment 3 Statement of Cashflows - Mar 2025
                      4.   Attachment 4 Key Materials & Services Expenditure - Mar 2025


EXECUTIVE SUMMARY
Year-to-date (YTD) performance against current budget as at 31 March 2025 is positive with
operating revenues outperforming forecast and operating expenditure slightly under forecast
YTD.

Capital revenues are above forecast with capital expenditure behind forecast due to delays and
rescheduled timing of project delivery.
   YTD Financial Performance Summary
                                           Budget         Actual     Variance       Variance
                                                                                                    Status
                                              $m             $m           $m              %
   Operating Revenue                        $128.7        $130.9           $2.2        1.7%      Above Budget
   Operating Expense                        $102.3        $102.1           $0.2        0.2%        On Track
   Operating Position                        $26.4         $28.8           $2.4
   Capital Revenue                           $40.9         $52.1         $11.2         27.3%      On Track
   Capital Expenditure*                     $110.5         $61.8         $48.6         44.0%    Behind Budget
* Reflects constructed assets and intangibles only (excludes contributed assets).


The $2.4 million full year positive interim operating variance comprises $1.6 million general
operating surplus from activities that are funded through Council’s general rate, regulatory fees
and sales of goods and services; Waste operations contributed an additional $0.7 with a further
$0.2 million from unspent levy and separate charge funds, which are constrained in reserve for
future use where they are not fully utilised in a given year. Holiday Parks are $0.1 million below
forecast YTD due in part to the closure of the holiday parks, during Tropical Cyclone Alfred and
higher than anticipated waste and maintenance charges.

                                                                                  Budget       Actual   Variance
 Item                                                                               YTD          YTD         YTD
                                                                                     $m           $m          $m
 General business operating position (unconstrained funds)                         $17.3        $18.9        $1.6
 Commercial operations (constrained funds) *                                        $7.1         $7.7        $0.6
 Unspent levies (constrained funds)                                                 $2.0         $2.2        $0.2
 Total Council Operating Position                                                  $26.4        $28.8        $2.4
* Includes Waste and Holiday Park operations as shown in the table below




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