2018-07-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                         16 JULY 2018



7                          FINANCIAL PERFORMANCE REPORT - JUNE 2018 INTERIM
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
Financial performance for the 2017/18 financial year compared to current budget has resulted in
a strong interim operating surplus of $5.8 million (budget $2k), capital revenues of $7.3 million
(budget $8.2 million) and capital expenditure of $25.8 million (budget $30.9 million). Note that
year-end financial adjustments are still in progress, with a further report on final 2017/18 financial
performance to be provided to Council following finalisation of the annual report and financial
statements.

Interim Full Year Financial Performance Summary
                                               Budget            Actual      Variance      Variance      Status
                                                  $m                $m            $m             %
Operating Revenue                                $93.2             $96.0          $2.8         3.1%    Above Budget
Operating Expense                                $93.2             $90.2          $3.0         3.2%    Below Budget
Operating Position                                $0.0              $5.8          $5.8


Capital Revenue                                   $8.2              $7.3          $0.9         10.8%   Below Budget
Capital Expenditure*                             $30.9             $25.8          $5.2         16.8%   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 Interim Operating Financial Performance

               $120
                                                         YTD Budget ($m)
               $100
                                                         YTD Actual ($m)

                         $80

                         $60

                         $40

                         $20

                          $-
                                   Operating Revenue                   Operating Expenditure


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