2022-02-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                           14 FEBRUARY 2022


8      FINANCIAL PERFORMANCE REPORT – JANUARY 2022

Author                Financial Services Manager (Acting), Pauline Coles
                      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) performance against current budget as at 31 January 2022 is positive with
operating revenues outperforming forecast and operating expenditure below forecast YTD. Capital
revenues are in line with forecast with capital expenditure slightly behind due to the timing of project
delivery. The budget position presented in this report and attachments reflects Budget Review 2
(BR2), which was adopted by Council at the January 2022 Ordinary Meeting.

     YTD Financial Performance Summary
                              Budget             Actual       Variance       Variance
                                                                                                Status
                                 $m                 $m             $m              %
 Operating Revenue                 $95.4             $97.2          $1.8         1.9%         On Track
 Operating Expense                 $61.0             $59.3          $1.7         2.8%         On Track
 Operating Position                $34.4             $37.9          $3.5        10.2%
 Capital Revenue                    $9.8             $10.0          $0.1         1.5%         On Track
 Capital
                                   $20.0             $17.0          $3.0        15.2%       Below Budget
 Expenditure*
* Reflects constructed assets and intangibles only (excludes contributed)


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
                           $95.4             $97.2
    $100

     $80
                                                                                $61.0       $59.3
     $60

     $40

     $20

      $-
                           Operating Revenue                                  Operating Expenditure
                                           YTD Budget ($m)          YTD Actual ($m)

Council’s performance against key measures of financial sustainability has been calculated as at
January 2022. These indicators enable the reader to assess Council’s success in managing its

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