2020-01-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     13 JANUARY 2020


8
DOCUMENT INFORM AT ION
                              FINANCIAL PERFORMANCE REPORT - DECEMBER 2019

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


EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 31 December 2019
aligns with YTD budget. The budget position presented in this report and attachments includes
the budget changes adopted by Council in November 2019.

YTD Financial Performance Summary
                             Budget                           Actual          Variance    Variance
                                                                                                        Status
                                $m                               $m                 $m           %
Operating Revenue             $48.7                            $49.4               $0.7       1.5%     On Track
Operating Expense             $48.3                            $47.1               $1.2       2.6%     On Track
Operating Position             $0.4                             $2.3               $2.0    534.3%
Capital Revenue                $3.1                             $3.1               $0.0       0.6%     On Track
Capital Expenditure*          $11.9                            $11.5               $0.4       3.2%     On Track
* 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

               $60
                                                           YTD Budget ($m)

                                       $48.7     $49.4     YTD Actual ($m)      $48.3      $47.1
               $50

               $40

               $30

               $20

               $10

                         $-
                                      Operating Revenue                      Operating Expenditure

YTD performance against Council’s key measures of financial sustainability have been calculated
as at December 2019. These indicators enable the reader to assess a council’s success in
managing its budget, cash and debt as well as undertaking sustainable asset management. The
table below contains a snapshot of a number of key measures, with full detail included in the
report.

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