2020-09-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 14 SEPTEMBER 2020


9         FINANCIAL PERFORMANCE REPORT – AUGUST 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
Performance against current budget for the month of August 2020 aligns with YTD budget at this
early stage of the new financial year. The current budget now includes the recent budget review 1
adjustments for any operational and capital commitments carried over from 2019/20.

 YTD Financial Performance Summary
                                        Budget            Actual         Variance         Variance        Status
                                           $m                $m               $m                %
 Operating Revenue                        $38.4            $39.3                $0.9             2.5%     On Track
 Operating Expense                        $16.5            $16.1                $0.4             2.7%     On Track
 Operating Position                       $21.8            $23.2                $1.4             6.4%
 Capital Revenue                              $1.3           $1.3               $0.0             1.7%     On Track
 Capital Expenditure*                         $2.9           $2.9              ($0.0)           (0.5%)    On Track
* 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

    $45
                                                     YTD Budget ($m)
    $40                    $38.4      $39.3
                                                     YTD Actual ($m)
    $35
    $30
    $25
    $20                                                                     $16.5       $16.1
    $15
    $10
     $5
     $-
                      Operating Revenue                                Operating Expenditure




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