2016-02-08 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     8 FEBRUARY 2016


2                            JANUARY 2016 YEAR TO DATE (YTD) COUNCIL FINANCIAL PERFORMANCE
OCUMENT INFORM AT ION




Author                               Manager Financial Services, Wayne Jensen
                                     Corporate Services Department

Index                                ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                          1.       Statement of Comprehensive Income
                                     2.       Statement of Financial Position


EXECUTIVE SUMMARY
Year to date financial performance to 31 January 2016 is generally in accordance with budget
forecasts. Budgets have been reviewed utilising the December YTD revenue and expenditure
actuals to determine whether budget forecasts require change, and to also incorporate recent
Council decisions that impact on the budget, with proposed changes included in a separate
report to this meeting. Note that the proposed December Quarter adjustments will not be
reflected in the budget reports until they have been adopted by Council.

         YTD Financial Performance Summary to 31 January 2016
                                 Current YTD Actual      Variance                         Variance     Status
                                     YTD          $m           $m                             YTD
                                 Budget                                                         %
                                      $m
         Recurrent Revenue          $78.1      $79.7          $1.6                           2.1%     On track
         Recurrent Expense          $49.6      $46.8          $2.8                           5.6%     On track

         Net Capital Revenue                         $2.3        $4.1           $1.8         178%     On track
         Capital Expenditure                        $13.1       $13.2           $0.1          0.7%    On track

Financial statements including Statement of Comprehensive Income and Statement of Financial
Position are included as attachments for information of Council.

Figure 1: Actual Performance Compared to YTD Budget
               $90
               $80
               $70
               $60
               $50
               $40
               $30
               $20
               $10
                        $-
                                    YTD Budget ($m)                     YTD Actual ($m)

                                          Operating Revenue   Operating Expenditure




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