2017-08-17 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                            17 AUGUST 2017



2         FINANCIAL PERFORMANCE REPORT – JULY 2017
Author           Acting Manager Financial Services, Trent Grauf
                 Financial Services Branch

Index            ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments      1.      Statement of Comprehensive Income
                 2.      Statement of Financial Position
                 3.      Statement of Cash Flows


EXECUTIVE SUMMARY
Performance against current budget for the month of July 2017 aligns with YTD budget at this
early stage of the new financial year. Note that budget review carryovers from 2016/17 to
2017/18 included in the ordinary meeting agenda have not yet been adopted and are excluded
from these results. The budget review will increase total budgets for operating expenditure,
capital revenue and capital expenditure.

 YTD Financial Performance Summary to July 2017
                             Budget        Actual       Variance        Variance          Status
                                $m            $m              $m               %
 Recurrent Revenue            $35.3         $35.5            $0.2           0.6%        On Track
 Recurrent Expense             $8.4          $7.9            $0.5           5.9%        On Track
 Operating Position           $26.9         $27.6            $0.7

 Capital Revenue                   $0.2        $0.1          $0.1        (28.0%)        On Track
 Capital Expenditure               $0.3        $0.7          $0.4        136.5%         On Track

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

Figure 1: Interim Performance Compared to 2017/18 Budget
    $40
    $35
    $30
    $25
    $20
    $15
    $10
     $5
     $-
                 YTD Budget ($m)                      YTD Actual ($m)

                       Operating Revenue   Operating Expenditure


RECOMMENDATION
That Council note the report by the Acting Manager Financial Services to the Ordinary Meeting
dated 17 August 2017 providing results of July 2017 financial performance against budget.


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