2020-04-30 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                            30 APRIL 2020


9      ORDINARY MEETING REPORTS


1      FINANCIAL PERFORMANCE REPORT – MARCH 2020

Author                Director Corporate Services, Michael Shave
                      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
Year to date (YTD) operating performance against current budget as at 31 March 2020 remains
positive, with operating revenue currently above budget and operating expenditure below budget.
Council’s net operating position will be impacted from March through to June 2020 by the COVID-
19 pandemic, due to lost revenues associated with the closure of key community facilities, business
and community financial support measures, observed reductions in waste management collection
charges and disposal fees, and additional expenditures incurred for cleaning, personal protective
equipment, lifeguard contract services etc.

Financial stress testing is currently in progress to determine COVID-19 pandemic implications for
the 2019/20 budget, development of 2020/21 budget and 10 year forecast.

 YTD Financial Performance Summary
                              Budget         Actual     Variance      Variance          YTD         30 June
                                 $m             $m           $m             %          Status       Forecast

 Operating Revenue              $90.4         $91.1           $0.7          0.7%      On Track     Below Budget
 Operating Expense              $72.0         $70.7           $1.3          1.9%      On Track       On Track
 Operating Position             $18.4         $20.4           $2.0          10.8%
 Capital Revenue                  $4.4          $6.8          $2.4          54.2%   Above Budget     On Track
 Capital Expenditure*           $19.8         $15.5           $4.3          21.7%   Below Budget     On Track
* Reflects constructed assets and intangibles only (excludes contributed)


Financial statements including Statement of Income & Expenditure, Statement of Financial Position
(balance sheet), and Statement of Cash Flows are included as attachments for information for
Council.




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