2017-07-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               17 JULY 2017


5                        FINANCIAL PERFORMANCE REPORT - JUNE 2017 INTERIM POSITION
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
Performance against current budget for the 2016/17 financial year has resulted in a strong
interim operating surplus of $7.9 million (budget $594k), capital revenues of $11.2 million, and
capital expenditure of $22.1 million including commitments equating to 90% completion. Note
that final year-end revenue and expenditure adjustments are still in progress, with a further report
on 2016/17 financial performance against budget to be provided to Council following the
preparation of the annual report including the financial statements.

         YTD Financial Performance Summary to June 2017
                                     Budget       Actual               Variance     Variance
                                        $m            $m                     $m            %
         Recurrent Revenue            $90.4         $93.7                   $3.3        3.7%
         Recurrent Expense            $89.8         $85.9                   $3.9      (4.4%)
         Operating Position            $0.6          $7.9                   $7.3

         Capital Revenue                         $6.5        $11.2          $4.7     171.6%
         Capital Expenditure                    $24.6        $18.2          $6.4      26.1%

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: Interim Performance Compared to 2016/17 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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