2014-10-20 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         20 OCTOBER 2014


2                         FINANCIAL PERFORMANCE - SEPTEMBER 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 September 2014 shows a favourable year to date
variance, although it is too early in the year to determine long term trends for some business
areas.

Summary Financial Performance Statements
                                                   Current Budget
                                                        YTD              Actual              Variance
                                                         $                YTD                  YTD
                                                                           $                    %
Total Operating Revenue                                35,624,740           36,007,325                   1.1%
Total Operating Expense                                20,560,850           19,301,572                   6.1%
Operating Result                                       15,063,890           16,705,753                  10.9%
Capital Revenue                                         1,250,953            1,305,412                   4.4%
Net Result                                             16,314,843           18,011,165                  10.4%

Capital Works Program
YTD Actual Expenditure                                 $1,184,868
                                                                                           YTD Actual
Remaining Capital Expenditure                         $22,756,000                            Spend
Full Year Budgeted Expenditure                        $23,940,868                            4.95%



                                                                        Remaining
                                                                         Capital
                                                                          Spend
                                                                         95.05%




RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 20 October 2014 providing the September 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.



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