Meeting papers

ORDINARY MEETING                                                                         18 JUNE 2026


12.4         FINANCIAL PERFORMANCE REPORT MAY 2026


Author             Financial Services Manager, Zach Morton-Adair
                   Financial Services | Corporate Services Department
Index              ECM/Subject/22.09/Monthly Financial Performance Reporting
Attachments        1.   Attachment 1 - Statement of Income and Expenditure 31 May 2026
                   2.   Attachment 2 - Statement of Financial Position 31 May 2026
                   3.   Attachment 3 - Statement of Changes in Equity 31 May 2026
                   4.   Attachment 4 - Financial Analytics 31 May 2026
                   5.   Attachment 5 - Capital Performance 31 May 2026


EXECUTIVE SUMMARY
To meet its monthly reporting obligations under section 204 of the Local Government Regulation
2012 (the Regulation), a monthly financial report is to be provided to Council for its information.

This report complies with section 204 of the Regulation, providing Council with a report on its financial
performance to 31 May 2026 against its Revised Budget for the 2025/26 financial year as adopted
by Council on 19 February 2026.

At 31 May 2026, Council had a favourable Net Result variance to budget of $13.5m, with $4.4m of
this variance attributable to Council's operating result and a further $9.1m derived from Council's
capital funding sources.

The favourable financial position largely reflects the timing of capital works delivery and capital grant
receipts and project accounting treatments, rather than changes to Council’s underlying financial
position.

Capital expenditure remains below profile at this stage of the year, with a portion of this variance
attributable to project timing, disaster recovery program completion, and the review and
reclassification of work-in-progress balances.

Rates and utility charge arrears continue to track within historical norms, following the expected post-
levy cycle.

At 31 May 2026, noting the impacts of higher than anticipated operating and capital revenue streams
and the timing of the delivery of the capital works program, there are no identified financial risks that
will negatively impact Council's forecasted financial position at 30 June 2026.

Due to the net impact of timing variations in the delivery of the 2025/26 Capital Works Program and
a higher-than-forecast cash and cash equivalents balance at 30 June 2025, it is now forecast that
Council will have a higher cash balance at 30 June 2026 than reported in the Revised Budget
adopted by Council on 19 February 2026. In this context, consideration will be given to whether the
Council-approved borrowings of $3.1 million are required to be drawn.

RECOMMENDATION
That Council note the report by the Financial Services Manager to the Ordinary Meeting dated 18
June 2026 regarding Council's financial performance to 31 May 2026.




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