2022-09-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                   12 SEPTEMBER 2022


   9         FINANCIAL PERFORMANCE REPORT – AUGUST 2022

   Author              Financial Services Manager (Acting), Pauline Coles
                       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) performance against current budget as at 31 August 2022 is positive with
   operating revenues outperforming forecast and operating expenditure slightly under forecast
   YTD. Capital revenues are in line with forecast with capital expenditure below forecast due
   to scheduled timing of project delivery. The current budget now includes Budget Review 1
   (BR1) adjustments which were adopted at August 2022 Council meeting for any operational
   and capital commitments carried over from 2021/22.
        YTD Financial Performance Summary
                                     Budget      Actual        Variance     Variance
                                                                                               Status
                                        $m          $m              $m            %
        Operating Revenue              $46.5      $47.5              $1.0       2.1%        Above Budget
        Operating Expense              $19.2      $18.9              $0.3       1.4%          On Track
        Operating Position             $27.4      $28.6              $1.2       4.5%
        Capital Revenue                 $3.0           $3.0          $0.0       1.0%          On Track
        Capital Expenditure*           $10.0           $8.1          $1.8       18.5%       Below Budget

   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

       $50                             $47.5
                          $46.5
       $45
       $40
       $35
       $30
       $25
                                                                        $19.2       $18.9
       $20
       $15
       $10
       $5
        $-
                        Operating Revenue                             Operating Expenditure
                                     YTD Budget ($m)          YTD Actual ($m)




                                                                                              Page 71 of 85