2018-03-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                          12 MARCH 2018


8                        FINANCIAL PERFORMANCE REPORT - FEBRUARY 2018
DOCUMENT INFORM AT ION




Author                           Acting Manager Financial Services, Megan Macmichael
                                 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


EXECUTIVE SUMMARY
Overall year to date financial performance to February 2018 delivers a positive result, with
operating revenue continuing to track slightly above budget and operating expenditure also
slightly below budget. Whilst revenue budgets are on track some under and over expenditure
variances in operating expenditure (particularly materials and services) will need to be monitored
to manage risk.

YTD Financial Performance Summary to February 2018

                                            Budget       Actual    Variance    Variance        Status
                                               $m           $m           $m           %
Operating Revenue                            $84.8        $85.1       ($0.3)       0.4%       On Track
Operating Expense                            $59.3        $59.0         $0.3       0.5%       On Track
Operating Position                           $25.5        $26.1         $0.6       2.4%

Capital Revenue                                $2.5        $2.1        $0.4      16.2%        On Track
Capital Expenditure                           $16.6       $15.9        $0.7       3.5%        On Track

Financial statements including Statement of Operating Profit & Loss, Summary of Capital
Financial Performance, Statement of Financial Position (balance sheet), and Statement of Cash
Flows are included as attachments for information of Council.

Figure 1: Actual Performance Compared to 2017/18 Budget




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