2017-03-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    13 MARCH 2017


6                        FINANCIAL PERFORMANCE REPORT - FEBRUARY 2017
DOCUMENT INFORM AT ION




Author                           Manager Financial Services, Wayne Jensen
                                 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 (YTD) financial performance against budget shows a positive variance, with
both revenue and expenditure continuing to track above and below budget respectively.
Adjustments will be required at the next budget review to address emerging items and current
significant variances. Council is on track to achieve a modest operating surplus at the end of this
financial year provided trends continue which reflects conservative budgeting practices.

                  YTD Financial Performance Summary to February 2017
                                              Current YTD Actual              Variance   Variance      Status
                                                 YTD          $m                   $m         YTD
                                              Budget                                            %
                                                  $m
                  Recurrent Revenue             $80.2       $82.0                 $1.7      2.2%      On track
                  Recurrent Expense             $57.1       $56.5                 $0.6      1.1%      On track

                  Net Capital Revenue                  $2.7          $4.0         $1.4     50.8%      On track
                  Capital Expenditure                 $11.5          $7.3         $4.2       36%       Watch

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: Actual Performance Compared to YTD Budget
               $90
               $80
               $70
               $60
               $50
               $40
               $30
               $20
               $10
                $-
                                YTD Budget ($m)                    YTD Actual ($m)

                                  Operating Revenue       Operating Expenditure




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