2021-05-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                      17 MAY 2021


6      FINANCIAL PERFORMANCE REPORT – APRIL 2021

Author             Director Corporate Services, Michael Shave
                   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 30 April 2021 is positive,
with operating revenues performing above forecast due largely to Council facilities and business
activity sales outperforming budget. Current budget figures now incorporate all adjustments adopted
as part of Budget Review 3 (BR3) during April 2021.

 YTD Financial Performance Summary
                                  Budget              Actual          Variance          Variance     Status
                                     $m                  $m                $m                 %
 Operating Revenue                   $94.2              $95.9                $1.7           1.8%    On Track
 Operating Expense                   $80.7              $79.8                $1.0           1.2%    On Track
 Operating Position                  $13.5              $16.2                $2.7           19.8%
 Capital Revenue                         $9.2            $9.6                $0.5           4.9%    On Track
 Capital Expenditure                 $18.5              $18.2                $0.4           1.9%    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.

Figure 1: Actual Performance Compared to Budget

    $120                                        YTD Budget ($m)

                        $94.2    $95.9          YTD Actual ($m)
    $100
                                                                     $80.7          $79.8
     $80

     $60

     $40

     $20

      $-
                   Operating Revenue                              Operating Expenditure

Council’s performance against key measures of financial sustainability have been calculated as at
30 April 2021. These indicators enable the reader to assess Council’s success in managing its
budget, cash and debt as well as undertaking sustainable asset management. The table below
contains a snapshot of a number of key measures, with full detail included in the report.

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