2014-08-19 Planning & Organisation Committee Agenda - Pages 102-155

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                  19 AUGUST 2014



12                       FINANCIAL PERFORMANCE REPORT JULY 2014
OCUMENT IN FOR MATI ON




Author                            Manager Financial Services, Wayne Jensen
                                  Corporate Services Department

Index                             22.09 – Monthly Exception Report

Attachments                       1.   Statement of Comprehensive Income
                                  2.   Capital Works Schedule


EXECUTIVE SUMMARY
Overall financial performance as at 31 July 2014 shows a favourable variance, but it is difficult to
make predictions this early in the year. There have been a number of accounting adjustments to
cater for payments made in July that relate to the previous financial year; and a review of projects
not completed within the 6-month budget period that should be carried forward into 2014/15.

RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 19 August 2014 providing the July monthly financial report.


REPORT
The purpose of this report is to provide a commentary on the budget performance of Council for
the month of July, to highlight areas of significance, and to flag potential areas of concern or risk.

It is noted that the first half-yearly notices for rates were issued in July, and that payments have
been received, generally in accordance with expectations. The discount period for early payment
closes on 15 August, and historically, approximately 85% of ratepayers take advantage of this
5% reduction.

1.                       Operating Revenue

Operating revenue overall shows a favourable variance against budget, with key areas
highlighted below:

 Net Rates and Utility Charges – generally in accordance with budget estimates apart from
   discounts allowed. More people have paid in July than was originally estimated, but this is
   not expected to impact on the overall budget position.
 Fees and Charges – application fees are showing a favourable variance at this early stage of
   the year, though it is too early to make predictions on the full-year budget position.
 Interest Received – interest received from investments is generally in accordance with budget
   estimates with only minor variances to date.
 Grants and Subsidies (Operating) – generally in accordance with budget estimates.
 Other Revenue – proceeds from the sale of recyclables is showing a favourable variance, but
   otherwise most areas are performing in accordance with budget estimates.




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