2016-11-14 General Committee Meeting Notes

GENERAL COMMITTEE MEETING AGENDA                                                                14 NOVEMBER 2016


3                             FINANCIAL PERFORMANCE REPORT OCTOBER 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 operating variance of
$1.6m against YTD budget, with revenue and expenditure slightly above and below budget
respectively. A review of all operating and capital budgets was undertaken to determine any
required adjustments (subject to a separate report to Council at this meeting).

         Financial Performance Summary to 31 October 2016
                                    Current YTD Actual                      Variance    Variance       Status
                                        YTD           $m                         $m          YTD
                                     Budget                                                    %
                                         $m
         Recurrent Revenue             $39.8        $40.8                        $0.9          2.3%   On track
         Recurrent Expense             $28.8        $28.1                        $0.7          2.4%   On track

         Net Capital Revenue                          $1.9        $2.5           $0.8      42.1%      On track
         Capital Expenditure                          $3.8        $3.7           $0.1       2.6%      On track

Financial statements including Statement of Comprehensive Income (profit & loss) and
Statement of Financial Position (balance sheet) 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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