2022-11-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                            14 NOVEMBER 2022


6         FINANCIAL PERFORMANCE REPORT – OCTOBER 2022

Author               Financial Services Manager (Acting), 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 2022 is positive with
operating revenues outperforming forecast. Operating expenditure is slightly over forecast YTD,
with an underspend in Employee Costs currently offsetting the overspend in Materials and Services
Capital revenues are above forecast while capital expenditure is below forecast due to timing of
project delivery.

     YTD Financial Performance Summary
                                    Budget             Actual         Variance      Variance
                                                                                                  Status
                                       $m                 $m               $m             %
     Operating Revenue                $51.6             $53.8                $2.2      4.2%    Above Budget
     Operating Expense                $37.9             $38.0               -$0.1      0.0%      On Track
     Operating Position               $13.6             $15.8                $2.2     15.7%
     Capital Revenue                   $3.9             $15.1               $11.2    283.8%    Above Budget
     Capital Expenditure*             $20.5             $17.6                $2.9     14.3%    Below Budget
* 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
                                      $53.8
                          $51.6
    $50

                                                                        $37.9       $38.0
    $40

    $30

    $20

    $10

     $-
                      Operating Revenue                              Operating Expenditure
                                   YTD Budget ($m)          YTD Actual ($m)

Council’s performance against key measures of financial sustainability has been calculated as at
October 2022. These statutory indicators enable the reader to assess Council’s success in

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