2015-02-09 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                9 FEBRUARY 2015


REPORTS DIRECT TO GENERAL COMMITTEE


1    FINANCIAL PERFORMANCE REPORT - JANUARY 2015
Author           Director Corporate Services, Michael Shave
                 Corporate Services Department

Index            ECM / Subject / 22.09 – Monthly Exception Report

Attachments      1.    Statement of Comprehensive Income
                 2.    Capital Works Schedule


EXECUTIVE SUMMARY
Overall financial performance for the 6 months to 31 December 2014 shows a favourable year-to-
date variance against budget, and the actual results will form the basis of a thorough review of the
budget forecast through until 30 June 2015.

 Summary YTD Financial Performance
                          Current
                          Budget                   Actual            Variance
                             YTD                     YTD                  YTD
                                $                       $                   %
 Operating Revenue     74,682,106              74,625,029                0.1%
 Operating             47,767,265              45,125,279                5.5%
 Expenditure
 Operating Result      26,914,841              29,499,750                9.6%
 Capital Revenue        2,402,153               2,577,081                7.3%
 Net Result            29,316,994              32,076,831                9.4%

 Capital Works Program
 YTD Actual             $5,167,854
                                                                                            YTD Actual
 Expenditure                                                                                Expenditure
 Remaining Capital     $19,727,239                                                            20.76%
 Expenditure
 Full Year             $24,895,093
 Budgeted
                                        Remaining
 Expenditure                              Capital
                                        Expenditure
                                          79.24%




RECOMMENDATION
That Council note the report by the Director Corporate Services to the General Committee Meeting
dated 9 February 2015 providing the January 2015 monthly financial performance report.




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