2019-03-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 18 MARCH 2019



8      FINANCIAL PERFORMANCE REPORT

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



EXECUTIVE SUMMARY
Overall year to date operating financial performance to date at February 2019 is positive, with
operating revenue continuing to track above budget and operating expenditure below budget. The
YTD budget and actual operating position is high reflecting revenue associated with the second
annual rates and charges levied in January. This will degrade through to June as expenditure is
incurred for service delivery.

 YTD Financial Performance Summary
                                        Budget            Actual        Variance      Variance      Status
                                           $m                $m              $m             %
 Operating Revenue                        $86.3            $88.0            $1.7         1.9%      On Track
 Operating Expense                        $62.1            $60.5            $1.6         2.6%      On Track
 Operating Position                       $24.2            $27.5            $3.3        13.4%


 Capital Revenue                            $3.9             $4.1           $0.2         5.4%      On Track
 Capital Expenditure*                     $21.5            $19.2            $2.3        10.4%    Below Budget
* Reflects constructed assets and intangibles only (excludes contributed)


Financial statements including Statement of Operating Profit & Loss, Summary of Capital Financial
Performance, Statement of Financial Position (balance sheet) and Statement of Cash Flows are
included as attachments for information of Council.

Figure 1: Actual Performance Compared to Budget

    $100
                                                   YTD Budget ($m)
     $90
                                                   YTD Actual ($m)
     $80
     $70
     $60
     $50
     $40
     $30
     $20
     $10
      $-
                     Operating Revenue                        Operating Expenditure



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