2021-04-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                              12 APRIL 2021


5      FINANCIAL PERFORMANCE REPORT – MARCH 2021

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
                   4.      Summary of Materials and Services Expenditure

EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 31 March 2021 is positive,
with operating revenues performing above forecast due largely to Council facilities and business
activity sales outperforming COVID-19 budget assumptions. Budget Review 3 (BR3), which is
detailed in a separate report included in the April 2021 General Committee Agenda, includes a
number of proposed budget adjustments which will if endorsed be incorporated into next month’s
financial performance report.

 YTD Financial Performance Summary
                                  Budget         Actual          Variance      Variance         Status
                                     $m             $m                $m             %
 Operating Revenue                  $87.5          $92.8              $5.3           6.1%      On Track
 Operating Expense                  $72.0          $72.1             -$0.1           -0.1%     On Track
 Operating Position                 $15.5          $20.7              $5.2           33.5%
 Capital Revenue                      $5.8          $9.1              $3.3           56.2%   Above Budget
 Capital Expenditure                $16.3          $16.9             -$0.6           -3.8%     On Track

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.

Figure 1: Actual Performance Compared to Budget
    $100
                                  $92.8      YTD Budget ($m)
                        $87.5
     $90
                                             YTD Actual ($m)
     $80
                                                                  $72.0      $72.1
     $70
     $60
     $50
     $40
     $30
     $20
     $10
      $-
                    Operating Revenue                          Operating Expenditure



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