2015-10-19 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    19 OCTOBER 2015



2                             SEPTEMBER2015 FINANCIAL PERFORMANCE REPORT
DOCUMENT INFORM AT ION




Author                                Manager Financial Services, Wayne Jensen
                                      Corporate Services Department

Index                                 ECM / Subject / 22.09 – Monthly Exception Report

Attachments                           1.   Statement of Comprehensive Income
                                      2.   Statement of Financial Position


EXECUTIVE SUMMARY
Year to date operating financial performance to the end of September 2015 is favourable
compared to year to date budget forecasts. The current budget also reflects the operating and
capital carryovers approved at the Ordinary Meeting held on the 27 August 2015. A quarterly
budget review will now be undertaken as per procedure to address required variations to the
budget based on the first quarter performance and to account for other required changes that
have emerged since the adoption of the original budget and carryovers. At this stage there does
not appear any significant items that will impact on the projected year end operating surplus.

         Financial Performance Summary
                                 Current                  YTD Actual       Variance      Variance     Status
                                    YTD                          $m             $m           YTD
                                 Budget                                                        %
                                     $m
         Recurrent Revenue         $38.2                       $38.7           $0.5         1.3%     On track
         Recurrent Expense         $22.6                       $21.6           $1.0         4.4%     On track

         Net Capital Revenue                      $0.8          $0.8           $0.0           0%     On track
         Capital Expenditure                      $4.9          $2.8           $2.1          42%      Watch

Financial statements including Statement of Comprehensive Income and Statement of Financial
Position are included as attachments for information of Council.

Figure 1: Actual Performance Compared to YTD Budget
               $45
               $40
               $35
               $30
               $25
               $20
               $15
               $10
                         $5
                         $-
                                    YTD Budget ($m)                    YTD Actual ($m)

                                      Operating Revenue     Operating Expenditure




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