2016-09-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     12 SEPTEMBER 2016



2                             FINANCIAL PERFORMANCE REPORT - AUGUST 2016
DOCUMENT INFORM AT ION




Author                                Manager Financial Services, Wayne Jensen
                                      Corporate Services Department

Index                                 ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                           1.    Statement of Comprehensive Income
                                      2.    Statement of Financial Position


EXECUTIVE SUMMARY
Overall financial performance against budget shows a positive year-to-date variance. Operating
and capital projects identified for carry over from last financial year (2015/16) have been
incorporated into the revised current budget figures.

         Financial Performance Summary to 31 August 2016
                                    Current YTD Actual                               Variance    Variance     Status
                                        YTD           $m                                  $m         YTD
                                     Budget                                                            %
                                         $m
         Recurrent Revenue             $35.9        $36.2                                 $0.3      0.9%    On track
         Recurrent Expense             $15.8        $15.1                                 $0.7      4.2%    On track

         Net Capital Revenue                               $1.6            $1.6           $0.0      1.2%    On track
         Capital Expenditure                               $1.6            $1.8           $0.2      7.6%    On track

Financial statements including Statement of Comprehensive Income (profit & loss) and an interim
Statement of Financial Position (balance sheet) (pending finalisation of the 2015/16 financial
statements) are included as attachments for information of Council.

Figure 1: Actual Performance Compared to YTD Budget
               $40
               $35
               $30
               $25
               $20
               $15
               $10
                         $5
                         $-
                                     YTD Budget ($m)                       YTD Actual ($m)

                                       Operating Revenue          Operating Expenditure




                                                                                                            Page 13 of 19