2014-12-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                          15 DECEMBER 2014


4                         FINANCIAL PERFORMANCE REPORT - NOVEMBER 2014
DOCUMENT IN FOR MATI ON




Author                            Manager Financial Services, Wayne Jensen
                                  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 as at 30 November 2014 shows a favourable year to date variance,
and it should be noted that budget review changes have been included in comparative budget
figures.

Summary Financial Performance Statements
                                                   Current Budget                Actual             Variance
                                                             YTD                   YTD                   YTD
                                                                $                     $                    %
Total Operating Revenue                                39,289,080            40,026,240                 1.9%
Total Operating Expense                                33,139,363            32,351,693                 2.4%
Operating Result                                        6,149,717             7,674,547               24.8%
Capital Revenue                                         2,022,553             2,297,478               13.6%
Net Result                                              8,172,270             9,972,025               22.0%

Capital Works Program
YTD Actual Expenditure                                 $2,866,987
Remaining Capital Expenditure                         $22,028,107
Full Year Budgeted Expenditure                        $24,895,093




RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 15 December 2014 providing the November monthly financial performance report.


REPORT
Each month a full review of Council’s financial performance against budget is undertaken to
highlight any variances, to ensure tight budgetary control, and to identify opportunities and risks
that may have arisen during the period.




                                                                                               Page 22 of 36