2018-02-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 12 FEBRUARY 2018


REPORTS DIRECT TO GENERAL COMMITTEE

5                            FINANCIAL PERFORMANCE REPORT - JANUARY 2018
OCUMENT INFORM AT ION




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

EXECUTIVE SUMMARY
Overall year to date financial performance to January 2018 delivers a positive result, with
operating revenue continuing to track slightly above budget and operating expenditure also
slightly below budget (albeit with under and over expenditure across the various Council
branches).
         YTD Financial Performance Summary to January 2018
                                     Budget       Actual                      Variance      Variance    Status
                                        $m            $m                            $m             %
         Recurrent Revenue            $81.8        $83.2                           $1.4         1.6%   On Track
         Recurrent Expense            $51.1        $50.5                           $0.6         1.2%   On Track
         Operating Position           $30.7        $32.7                           $2.0         6.4%

         Capital Revenue                             $1.6          $1.7           $0.1         4.4%    On Track
         Capital Expenditure                        $14.7         $14.1           $0.6         4.2%    On Track

Financial statements including Statement of Operating Profit & Loss, Summary of Capital
Financial Performance, Statement of Financial Position (balance sheet), and Statement of Cash
Flows are included as attachments for information of Council.
Figure 1: Actual Performance Compared to 2017/18 Budget
               $90
                                                            YTD Budget ($m)
               $80                                          YTD Actual ($m)
               $70
               $60
               $50
               $40
               $30
               $20
               $10
                        $-
                                    Operating Revenue               Operating Expenditure


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 February 2018 outlining the January year to date financial performance against
budget.


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