2016-08-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     15 AUGUST 2016


9                             FINANCIAL PERFORMANCE REPORT - JULY 2016
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


EXECUTIVE SUMMARY
Overall financial performance for the month to 31 July 2016 shows a positive year-to-date variance
against budget. Actual financial performance against 2015/16 budget has been assessed with
those operating and capital projects identified for carry over into the 2016/17 budget included in a
separate report to the General Committee.

                  Financial Performance Summary to 31 July 2016
                                             Current YTD Actual                    Variance   Variance      Status
                                                 YTD            $m                      $m         YTD
                                              Budget                                                 %
                                                  $m
                  Recurrent Revenue             $34.3         $34.3                    $0.0      0.1%     On track
                  Recurrent Expense              $7.2          $6.5                    $0.6      8.8%     On track

                  Net Capital Revenue                      $0.36        $0.35          $0.0      1.8%     On track
                  Capital Expenditure                       $0.4         $0.5          $0.1      7.8%     On track

Financial statements including Statement of Comprehensive Income and an interim Statement of
Financial Position (pending finalisation of the 2016 statements) are included as attachments for
information of Council.

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




                                                                                                         Page 12 of 61