2020-10-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                  12 OCTOBER 2020


   8         FINANCIAL PERFORMANCE REPORT – SEPTEMBER 2020

   Author             Manager Financial Services, Trent Grauf
                      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) operating performance against current budget as at 30 September 2020
   is positive, with operating revenues performing above forecast due to Council facilities sales
   revenue outperforming COVID-19 budget assumptions.

    YTD Financial Performance Summary
                                   Budget     Actual      Variance          Variance        Status
                                      $m         $m            $m                 %
    Operating Revenue               $39.8      $41.6              $1.8         4.5%        On Track
    Operating Expense               $24.1      $23.7              $0.4         1.6%        On Track
    Operating Position              $15.7      $17.9              $2.2        14.0%
    Capital Revenue                  $3.2       $3.3              $0.0         1.0%        On Track
    Capital Expenditure              $9.2       $7.9              $1.3        14.1%      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

       $45
                                      $41.6    YTD Budget ($m)
                           $39.8
       $40                                     YTD Actual ($m)
       $35
       $30
                                                                    $24.1      $23.7
       $25
       $20
       $15

       $10

       $5
        $-
                      Operating Revenue                          Operating Expenditure

   Council’s performance against key measures of financial sustainability have been calculated
   as at September 2020. These indicators enable the reader to assess Council’s success in

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