2022-05-16 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                  16 MAY 2022


   8         FINANCIAL PERFORMANCE REPORT – APRIL 2022

   Author                Financial Services Manager (Acting), Pauline Coles
                         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) performance against current budget as at 30 April 2022 is positive with
   operating revenues outperforming forecast and operating expenditure below budget. Capital
   revenues are above forecast with capital expenditure behind budget due to impacts on
   project delivery from the recent flood event and resource and supply chain delays.

        YTD Financial Performance Summary
                                       Budget             Actual        Variance       Variance
                                                                                                      Status
                                          $m                 $m              $m              %
                                                                                                      Above
        Operating Revenue              $103.4             $108.1                $4.7      4.6%
                                                                                                      Budget
        Operating Expense                $86.9             $85.9                $0.9      1.1%       On Track
        Operating Position               $16.5             $22.1                $5.7     34.4%
                                                                                                      Above
        Capital Revenue                  $13.0             $14.1                $1.1      8.3%
                                                                                                      Budget
        Capital Expenditure*             $38.6             $26.1               $12.5     32.3%     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

    $120
                              $103.4     $108.1

    $100
                                                                               $86.9     $85.9
       $80

       $60

       $40

       $20

        $-
                          Operating Revenue                               Operating Expenditure
                                       YTD Budget ($m)          YTD Actual ($m)


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