2018-08-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                  13 AUGUST 2018



7                             FINANCIAL PERFORMANCE REPORT - JULY 2018
DOCUMENT INFORM AT ION




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
Performance against current budget for the month of July 2018 aligns with YTD budget at this
early stage of the new financial year. Note that budget review carryovers from 2017/18 to
2018/19, which are also included in the meeting agenda, have not yet been adopted and are
excluded from these results. The impact of this budget review will be an increase to operating
expenditure and revenue, as well as capital expenditure and revenue.

YTD Financial Performance Summary
                                                  Budget      Actual     Variance      Variance      Status
                                                     $m          $m           $m             %
Operating Revenue                                   $37.6      $38.0           $0.4        1.0%      On Track
Operating Expense                                    $7.7       $7.1           $0.6        7.4%      On Track
Operating Position                                  $29.9      $30.9           $1.0        3.1%


Capital Revenue                                      $0.4       $0.1           $0.3       79.3%    Below Budget
Capital Expenditure*                                 $3.6       $1.1           $2.5       68.8%    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

               $40
                                                             YTD Budget ($m)
               $35
                                                             YTD Actual ($m)
               $30
               $25
               $20
               $15
               $10
                         $5
                         $-
                                      Operating Revenue                Operating Expenditure


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