2020-11-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                            16 NOVEMBER 2020


7         FINANCIAL PERFORMANCE REPORT – OCTOBER 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
Year to date (YTD) operating performance against current budget as at 31 October 2020 is
positive, with operating revenues performing above forecast due to Council facilities and business
activity sales revenue outperforming COVID-19 budget assumptions. The budget review 2 (BR2)
process, which addresses any realised budget variations or emergent requests, is currently
underway and will be presented to the December round of Council meetings.

 YTD Financial Performance Summary
                                   Budget             Actual         Variance       Variance       Status
                                      $m                 $m               $m              %
 Operating Revenue                   $42.2             $44.7              $2.5            5.9%    On Track
 Operating Expense                   $31.1             $30.9              $0.2            0.8%    On Track
 Operating Position                  $11.1             $13.9              $2.7            24.6%
 Capital Revenue                          $3.4          $4.0              $0.5            15.6%   On Track
 Capital Expenditure                      $8.4          $8.5              -$0.1           -0.9%   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

    $50
                                                 YTD Budget ($m)
                                  $44.7
    $45                 $42.2
                                                 YTD Actual ($m)
    $40
    $35                                                               $31.1       $30.9
    $30
    $25
    $20
    $15
    $10
     $5
     $-
                   Operating Revenue                               Operating Expenditure


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