Meeting papers

GENERAL COMMITTEE MEETING                                                            17 JULY 2023


6.1     FINANCIAL PERFORMANCE REPORT – JUNE 2023


Author                Financial Services Manager (Acting), Pauline Coles
                      Corporate Services Department
Index                 ECM/ Subject / 22.09 – Monthly Financial Performance Report
Attachments           1.   Attachment 1 Statement of Income and Expenditure - Jun 2023
                      2.   Attachment 2 Statement of Financial Position - Jun 2023
                      3.   Attachment 3 Statement of Cashflows - Jun 2023
                      4.   Attachment 4 Key Materials & Services Expenditure - Jun 2023


EXECUTIVE SUMMARY
Financial performance for the 2022/23 year has resulted in an interim operating position of $10.0
million, capital revenue of $40.6 million and capital expenditure of $46.6 million.

Note that this is only an interim position, year-end financial adjustments are still in progress
which may have material impacts to the interim financial position. A further report on the final
2022/23 financial performance will be provided to Council in November 2023 following the
finalisation and independent audit of the financial statements in October 2023.




* Reflects constructed assets and intangibles only (excludes contributed)


The $9.8 million full year operating surplus comprises $5.4 million general operating surplus
from activities that are funded through Council’s general rate, regulatory fees and sales of goods
and services; as well an additional $0.1 million from holiday park operations, and $4.4 million in
unspent levy and separate charge funds which are constrained in reserve for future use. This
was offset by a small operating deficit of $0.1 million in waste operations. The general operating
surplus position is also augmented by a number of incomplete grant-funded programs.




* Includes Waste and Holiday Park operations as shown in the table below

Council elected to apply National Competition Policy (NCP) reforms to its Waste Management and
Holiday Parks which provides greater transparency and assists with removing anti-competitive
conduct and ensure the best allocation of Council's limited resources.




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