2015-01-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                    12 January 2015


14                   FINANCIAL PERFORMANCE REPORT DECEMBER 2014
MENT IN FORMA TION




Author                       Manager Financial Services, Wayne Jensen
                             Corporate Services Department

Index                        ECM / Subject / 22.09 – Monthly Exception Report

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


EXECUTIVE SUMMARY
Overall financial performance for the 6 months to 31 December 2014 shows a favourable
year-to-date variance against budget, and the actual results will form the basis of a thorough
review of the budget forecast through until 30 June 2015.

Summary Financial Performance Statements
                                              Current Budget
                                                   YTD              Actual            Variance
                                                    $                YTD                YTD
                                                                      $                  %
Total Operating Revenue                           41,173,776           43,124,596              4.7%
Total Operating Expense                           40,022,628           38,843,061              3.0%
Operating Result                                   1,151,149            4,281,535            271.9%
Capital Revenue                                    2,211,728            2,532,529             14.5%
Net Result                                         3,362,877            6,814,064            102.6%

Capital Works Program
YTD Actual Expenditure                            $4,638,049
Remaining Capital Expenditure                    $20,255,045
Full Year Budgeted Expenditure                   $24,895,093




RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 January 2015 providing the December 2014 monthly financial performance
report.




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