2020-06-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                15 JUNE 2020

9      FINANCIAL PERFORMANCE REPORT - MAY 2020

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
                      4.     Summary of Key Materials and Services Expenditure


EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 31 May 2020 remains
positive, as operating expenditure savings are offsetting operating revenue losses due to the
COVID-19 pandemic.

Council’s overall operating and cash position for the 2019/20 financial year will be impacted by the
COVID-19 pandemic due to lost revenues associated with the closure of key community facilities
since March, as well as through the provision of business and community financial support
measures, observed reductions in waste management collection charges and disposal fees, and
additional expenditures incurred for cleaning, personal protective equipment, lifeguard contract
services etc.

This month’s reporting suite has also been refined to include new disclosure on key expenditure
categories, such as consultancy, legal fees and contract services.

 YTD Financial Performance Summary
                       Budget   Actual                  Variance      Variance       YTD          30 June
                          $m        $m                        $m             %      Status        Forecast
 Operating Revenue      $96.3    $95.4                      -$0.8        -0.9%   Below Budget   Below Budget
 Operating Expense      $88.1    $87.0                       $1.1         1.2%     On Track       On Track
 Operating Position      $8.2      $8.4                      $0.3         3.2%
 Capital Revenue         $5.8      $8.6                      $2.8       47.6%    Above Budget     On Track
 Capital Expenditure*   $24.7    $20.7                       $4.0       16.1%    Below Budget     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.




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