Meeting papers

GENERAL COMMITTEE MEETING                                                                      20 JANUARY 2025


8.5     FINANCIAL PERFORMANCE REPORT – DEC 2024


Author                Financial Services Manager, Pauline Coles
                      Financial Services | Corporate Services Department
Index                 ECM/ Subject / 22.09 – Monthly Financial Performance Report
Attachments           1.   Attachment 1 - Statement of Income and Expenditure - Dec 2024
                      2.   Attachment 2 - Statement of Financial Position - Dec 2024
                      3.   Attachment 3 - Statement of Cashflows - Dec 2024
                      4.   Attachment 4 - Key Materials & Services Expenditure - Dec 2024


EXECUTIVE SUMMARY
Year-to-date (YTD) performance against current budget as at 31 December 2024 is positive with
operating revenues outperforming forecast and operating expenditure under forecast YTD.

Capital revenues are above forecast with capital expenditure behind of forecast due to delays
and rescheduled timing of project delivery.
   YTD Financial Performance Summary

                                           Budget         Actual     Variance       Variance
                                                                                                    Status
                                              $m             $m           $m              %
   Operating Revenue                         $70.4         $73.4           $3.0         4.3%       On Track
   Operating Expense                         $66.6         $67.0         ($0.5)       (0.7%)       On Track
   Operating Position                         $3.8           $6.4          $2.6
   Capital Revenue                           $30.5         $35.0          $4.5         14.7%      On Track
   Capital Expenditure*                      $72.5         $46.7         $25.8         35.6%    Behind Budget
* Reflects constructed assets and intangibles only (excludes contributed assets).


The $2.6 million full year positive interim operating variance comprises $1.9 million general
operating surplus from activities that are funded through Council’s general rate, regulatory fees
and sales of goods and services; as well an additional $0.7 million from waste operations and
$0.1 million from holiday park operations. Any unspent levy and separate charge funds are
constrained in reserve for future use where they are not fully utilised in a given year.

                                                                                  Budget       Actual   Variance
 Item                                                                               YTD          YTD         YTD
                                                                                     $m           $m          $m
 General business operating position (unconstrained funds)                          $1.1         $3.0        $1.9
 Commercial operations (constrained funds) *                                        $2.0         $2.8        $0.8
 Unspent levies (constrained funds)                                                 $0.7         $0.6      ($0.1)
 Total Council Operating Position                                                   $3.8         $6.4        $2.6
* Includes Waste and Holiday Park operations as shown in the table below

Council elects to apply National Competition Policy (NCP) reforms to its Waste Management and
Holiday Parks which provides greater transparency and assists with removing anti-competitive
conduct and ensures the best allocation of Councils limited resources. A summary of the YTD
operational performance of these business activities are outlined below.




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