2016-10-17 General Committee Meeting Notes

GENERAL COMMITTEE MEETING AGENDA                                                                  17 OCTOBER 2016


8                        FINANCIAL PERFORMANCE REPORT - SEPTEMBER 2016
DOCUMENT INFORM AT ION




Author                           Manager Financial Services, Wayne Jensen
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                      1.    Statement of Comprehensive Income
                                 2.    Statement of Financial Position


EXECUTIVE SUMMARY
Overall year to date financial performance against budget shows a positive variance, with
revenue and expenditure slightly above and below budget respectively. A comprehensive review
of all operating and capital budgets is currently underway to determine any required adjustments
in the next budget review.

         Financial Performance Summary to 30 September 2016
                                    Current YTD Actual                          Variance    Variance     Status
                                        YTD          $m                              $m         YTD
                                     Budget                                                       %
                                         $m
         Recurrent Revenue             $37.8       $38.3                             $0.6      1.5%    On track
         Recurrent Expense             $22.5       $22.1                             $0.4      1.6%    On track

         Net Capital Revenue                          $1.8            $1.8           $0.0      1.7%    On track
         Capital Expenditure                          $3.3            $3.1           $0.2      4.9%    On track

Financial statements including Statement of Comprehensive Income (profit & loss) and an interim
Statement of Financial Position (balance sheet - pending finalisation of the 2015/16 financial
statements) are included as attachments for information of Council.

Figure 1: Actual Performance Compared to YTD Budget

               $45
               $40
               $35
               $30
               $25
               $20
               $15
               $10
                $5
                $-
                                YTD Budget ($m)                       YTD Actual ($m)

                                  Operating Revenue          Operating Expenditure




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