09 Financial Performance Report - Mar 2022

GENERAL COMMITTEE MEETING AGENDA                                                                           19 APRIL 2022


10        FINANCIAL PERFORMANCE REPORT – MARCH 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 March 2022 is positive with
operating revenues outperforming forecast and operating expenditure below budget. Capital
revenues are in line with forecast however capital expenditure is behind budget due to impacts on
project delivery from the recent flood event as well as staff resource constraints and supply chain
delays.

     YTD Financial Performance Summary
                                         Budget             Actual          Variance        Variance
                                                                                                               Status
                                            $m                 $m                $m               %
     Operating Revenue                     $99.6            $103.2                  $3.6           3.6%    Above Budget
     Operating Expense                     $78.3             $77.8                  $0.5           0.6%      On Track
     Operating Position                    $21.4             $25.5                  $4.1           19.1%
     Capital Revenue                       $13.1             $13.4                  $0.3           2.0%      On Track
     Capital Expenditure*                  $31.2             $23.9                  $7.3           23.5%   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

 $120
                           $99.6      $103.2
 $100

                                                                            $78.3          $77.8
  $80

  $60

  $40

  $20

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