2015-02-09 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                             9 FEBRUARY 2015


REPORT
1.  Operating Position

The year to date actual operating position is favourable compared to the YTD budget forecast. The
operating surplus for the 7 months to date is $29.5m compared to a forecast of $26.9m, as depicted
in the graph below where the actual position (red line) has remained above the budget position
(blue line).

The significant YTD surplus is as expected given the issuing of the January rate levy and
recognition of the associated revenue during the January period. The accumulated operating
position (i.e. the blue line in the graph) is still forecast to result in an approximate breakeven
operating position for the 2014/15 financial year, however the December quarter budget review
adjustments are yet to be finalised and will be brought before Council for consideration in March.

             30,000                                                                                35,000

             25,000                                                                                30,000

                                                                                                   25,000
             20,000
                                                                                                   20,000
             15,000
                                                                                                   15,000
     $,000




             10,000
                                                                                                   10,000
               5,000
                                                                                                   5,000
                      0
                                                                                                   0
              -5,000                                                                               -5,000

             -10,000                                                                               -10,000
                           Jul    Aug Sep      Oct   Nov Dec    Jan   Feb Mar   Apr May Jun

                      Budget          Actual          Accum Budget (RHS)         Accum Actual (RHS)



2.            Operating Revenue

Overall operating revenue is in accordance with YTD budget forecasts, however with some cross
subsidy occurring between the various revenue categories. Detailed commentary for significant
items appears below:

             40,000                                                                          120,000

             35,000                                                                          100,000

             30,000
                                                                                             80,000
             25,000
                                                                                             60,000
     $,000




             20,000
                                                                                             40,000
             15,000
                                                                                             20,000
             10,000

              5,000                                                                          0

                 0                                                                           -20,000
                          Jul    Aug Sep   Oct   Nov Dec     Jan   Feb Mar   Apr May Jun

                  Budget             Actual          Accum Budget (RHS)       Accum Actual (RHS)

Note: Includes internal revenue which nets off to expenditure



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