2020-03-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               16 MARCH 2020


6      FINANCIAL PERFORMANCE REPORT - FEBRUARY 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

EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 29 February 2020 is
positive, with operating revenue continuing to track above budget and operating expenditure below
budget. The YTD operating position, both budget and actual, is high reflecting the recognition of
revenue associated with rates and charges levied in January. This position will continue to degrade
over the next four months as services funded by rates and charges are delivered.

 YTD Financial Performance Summary
                              Budget                     Actual        Variance     Variance
                                                                                                  Status
                                 $m                         $m               $m            %
 Operating Revenue             $88.5                      $89.4             $0.9        1.1%     On Track
 Operating Expense             $64.3                      $62.8             $1.6        2.4%     On Track
 Operating Position            $24.2                      $26.7             $2.5      10.4%
 Capital Revenue                $3.7                       $6.2             $2.5      68.8%    Above Budget
 Capital Expenditure*          $16.8                      $13.8             $3.0      17.9%    Below Budget
* Reflects constructed assets and intangibles only (excludes contributed)


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

    $100
                                       $89.4        YTD Budget ($m)
                           $88.5
     $90
                                                    YTD Actual ($m)
     $80
                                                                            $64.3
     $70                                                                            $62.8
     $60
     $50
     $40
     $30
     $20
     $10
      $-
                       Operating Revenue                              Operating Expenditure

YTD performance against Council’s key measures of financial sustainability have been calculated
as at February 2020. These indicators enable the reader to assess Council’s success in managing
its budget, cash and debt as well as undertaking sustainable asset management.

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