2020-02-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                   17 FEBRUARY 2020


6                          FINANCIAL PERFORMANCE REPORT - JANUARY 2020
DOCUMENT INFORM AT ION




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 January 2020 is
positive, with operating revenue continuing to track above budget and operating expenditure
below budget. The YTD operating position, both budget and actual, is significant reflecting the
recognition of revenue associated with rates and charges levied in January. This position will
degrade over the next five months as services funded by rates and charges are delivered.

YTD Financial Performance Summary
                             Budget                          Actual      Variance       Variance
                                                                                                        Status
                                $m                              $m             $m              %
Operating Revenue             $86.8                           $87.8           $1.0          1.2%       On Track
Operating Expense             $55.5                           $53.8           $1.8          3.2%       On Track
Operating Position            $31.2                           $34.0           $2.8          8.9%
Capital Revenue                $3.3                            $4.4           $1.1        32.2%      Above Budget
Capital Expenditure*          $12.7                           $12.5           $0.2          1.5%       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

               $100
                                        $86.8                         YTD Budget ($m)
                         $90                     $87.8
                                                                      YTD Actual ($m)
                         $80
                         $70
                         $60                                                $55.5       $53.8

                         $50
                         $40
                         $30
                         $20
                         $10
                          $-
                                    Operating Revenue                   Operating Expenditure




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