2021-02-15 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      15 FEBRUARY 2021


13     FINANCIAL PERFORMANCE REPORT – JANUARY 2021

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 31 January 2021 is
positive, with operating revenues performing above forecast due to Council facilities and business
activity sales outperforming COVID-19 budget assumptions. The YTD net operating position, both
budget and actual, is high reflecting the recognition of revenue associated with rates and charges
levied in January.

 YTD Financial Performance Summary
                                Budget             Actual           Variance     Variance      Status
                                   $m                 $m                 $m            %
 Operating Revenue                   $83.8          $88.3               $4.5        5.4%      On Track
 Operating Expense                   $55.2          $54.9               $0.3        0.6%      On Track
 Operating Position                  $28.6          $33.5               $4.8       16.9%
 Capital Revenue                      $4.4           $6.6               $2.2       49.9%    Above Budget
 Capital Expenditure                 $13.0          $12.4               $0.6        4.7%      On Track

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

 $100                                    YTD Budget ($m)
     $90                     $88.3
                    $83.8                YTD Actual ($m)
     $80
     $70
     $60                                                    $55.2        $54.9

     $50
     $40
     $30
     $20
     $10
      $-
                Operating Revenue                      Operating Expenditure




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