2017-09-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                             18 SEPTEMBER 2017


6                             FINANCIAL PERFORMANCE REPORT - AUGUST 2017
DOCUMENT INFORM AT ION




Author                                Manager Financial Services, Trent Grauf
                                      Corporate Services Department

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
Overall year to date financial performance to August 2017 aligns with budget at this stage of the
financial year. The current budget now includes the recent budget review adjustments.

YTD Financial Performance Summary to August 2017
                              Budget        Actual                             Variance    Variance         Status
                                  $m           $m                                    $m           %
Recurrent Revenue              $36.6         $37.1                                  $0.5       1.3%       On Track
Recurrent Expense              $16.7         $16.2                                  $0.5       3.0%       On Track
Operating Position             $19.9         $20.9                                  $1.0       5.0%

Capital Revenue                                        $0.5           $0.4        ($0.1)     (5.0%)       On Track
Capital Expenditure                                    $1.5           $2.3        ($0.8)    (51.8%)       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 Manager Financial Services to the General Committee
Meeting dated 18 September 2017 providing results of August 2017 financial performance
against budget.


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