2015-11-10 Infrastructure & Services Committee Agenda

INFRASTRUCTURE & SERVICES COMMITTEE MEETING REPORT                                   10 NOVEMBER 2015


                                    The J First Quarter 2015/16
                                              Actual YTD              Budget YTD          Variance (YTD)
Total Revenue                                   $143,499                $146,340              -$2,841
Total Expenditure                               $299,637                $300,448               $811
Net Operating Surplus/Deficit                  -$156,138               -$154,108              -$2,030
Depreciation*                                   $68,628                  $68,628                $0
Internal Charges*                               $51,901                  $50,460              -$1,441
* Please note depreciation and internal charges are included in total expenditure.


                              The J First Quarter 2015/16
$400,000


$300,000


$200,000


                                                                                                 Actual
$100,000
                                                                                                 Budget


       $0
                  Total Revenue             Total Expenditure           Net Operating
                                                                        Surplus/Deficit
($100,000)


($200,000)


As a whole, The J’s financial performance is relatively on track for the first quarter of the year,
with the net cost to Council being $2,030 greater than budgeted.

Revenue performed solidly with employee cost recoveries the only account to show a negative
variance of any significance. This account ended the quarter $5,500 behind budget. Upon review
the budget showed to be heavily skewed to the first quarter (46% of annual revenue was
budgeted for in quarter 1) and will be adjusted to more realistic levels to ensure more accurate
YTD reporting from this point forward.

Employee benefits were $15,338 overspent for the quarter with a majority of the cost attributed to
casual employees. While revenue budgets for the quarter represented 31% of annual targets
(due to the large number of significant events in quarter 1), employee benefits budgets only
represented 24% of the annual cost. This mismatch explains the overspend which will fall back in
line over coming months.

A number of expenditure accounts saw minor savings during the quarter however it is expected
that a majority of these will even out throughout the year.




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