2015-06-23 Planning & Organisation Committee Meeting Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                             23 JUNE 2015


CORPORATE SERVICES DEPARTMENT REPORTS
Finance
8                     MAY 2015 FINANCIAL PERFORMANCE REPORT
UMENT INF ORM ATION




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
Overall financial performance for the 11 months to 31 May 2015 shows a positive
year-to-date variance against budget, with both operating revenue and expenditure above
and below year to date (YTD) budget respectively. There will be changes to some forecasts
associated with the third quarterly review, shown as Forecast Budget in the attached reports.
There have also been minor changes to the capital works program in the review, and there
are some projects expected to carry forward into the first part of the 2015/16 financial year
for completion.

         Financial Performance Summary
                               Current                YTD       Variance       Variance    Status
                                  YTD               Actual           $m            YTD
                               Budget                  $m                            %
                                   $m
         Recurrent Revenue       $81.7               $83.0            $1.3        1.6%    On track
         Recurrent Expense       $74.4               $71.3            $3.1        4.2%    On track

         Capital Revenue                  $4.0        $3.8            $0.2        4.5%    On track
         Capital Expenditure             $17.6       $11.9            $5.7       32.3%     Watch

Interim 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
                $90
                $80
                $70
                $60
                $50
                $40
                $30
                $20
                $10
                 $-
                             YTD Budget ($m)                 YTD Actual ($m)

                               Operating Revenue   Operating Expenditure



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