2015-12-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                           14 DECEMBER 2015


REPORTS DIRECT TO GENERAL COMMITTEE

1                        FINANCIAL PERFORMANCE REPORT - NOVEMBER 2015
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
Year to date financial performance to 30 November 2015 is generally in accordance with budget
forecasts. Changes arising from the budget review adopted on the 19 November are included in
the budget figures in the reports.

         Financial Performance Summary to 30 November 2015
                                 Current YTD Actual     Variance                Variance       Status
                                    YTD           $m          $m                    YTD
                                 Budget                                               %
                                     $m
         Recurrent Revenue         $41.7        $42.4        $0.7                  1.8%      On track
         Recurrent Expense         $35.6        $33.7        $1.9                  5.5%      On track

         Net Capital Revenue                  $1.6        $2.0           $0.4       30%      On track
         Capital Expenditure                  $8.0        $5.7           $2.3       34%       Watch

Financial statements including Statement of Comprehensive Income and Statement of Financial
Position 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



RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 14 December 2015 providing the November YTD financial performance report for
the 2015/16 financial year.



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