2021-11-15 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                          15 NOVEMBER 2021


   10        FINANCIAL PERFORMANCE REPORT – OCTOBER 2021

   Author                Acting Manager Financial Services, Pauline Coles
                         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
                         4.     Summary of Materials and Services Expenditure


   EXECUTIVE SUMMARY
   Year-to-date (YTD) performance against current budget as at 31 October 2021 is positive with
   both operating revenues outperforming forecast and operating expenditure slightly under
   forecast YTD. Capital revenues and expenditures are in line with forecast.

    YTD Financial Performance Summary
                                           Budget            Actual        Variance      Variance        Status
                                              $m                $m              $m             %
    Operating Revenue                        $47.8            $50.2               $2.4           5.1%   On Track
    Operating Expense                        $35.2            $34.9               $0.3           0.9%   On Track
    Operating Position                       $12.6            $15.3               $2.7      21.6%
    Capital Revenue                            $8.4             $8.4              $0.0           0.0%   On Track
    Capital Expenditure*                       $8.6             $8.6             -$0.1       -0.6%      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)
                              $47.8       $50.2          YTD Actual ($m)
     $50

     $40
                                                                               $35.2     $34.9

     $30

     $20

     $10

        $-
                          Operating Revenue                                Operating Expenditure




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