2015-09-15 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                 15 SEPTEMBER 2015


CORPORATE SERVICES DEPARTMENT REPORTS
Finance
11                            FINANCIAL PERFORMANCE REPORT AUGUST 2015
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
                                      3.    Capital Works Schedule


EXECUTIVE SUMMARY
Year to date financial performance to the end of August 2015 is favourable compared to year to
date budget forecasts, although it is difficult to determine any trends only two months into the new
financial year. The current budget now reflects the operating and capital carryovers approved at
the Ordinary Meeting held on the 27 August 2015.

                  Financial Performance Summary
                                          Current          YTD Actual      Variance        Variance     Status
                                             YTD                  $m            $m             YTD
                                          Budget                                                 %
                                              $m
                  Recurrent Revenue         $35.9               $36.1               $0.2        0%    On track
                  Recurrent Expense         $15.9               $14.3               $1.6       10%     Watch

                  Net Capital Revenue               $0.7          $0.7              $0.0        0%    On track
                  Capital Expenditure               $4.3          $1.0              $3.3       77%     Watch

Financial statements including the Statement of Comprehensive Income (i.e. profit and loss) and
the Statement of Financial Position (i.e. balance sheet) are included as attachments for
information.

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

                                       Operating Revenue    Operating Expenditure




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