2017-06-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               12 JUNE 2017


7                        FINANCIAL PERFORMANCE REPORT - MAY 2017
DOCUMENT INFORM AT ION




Author                           Director Corporate Services, Michael Shave
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                      1.   Statement of Comprehensive Income
                                 2.   Statement of Financial Position
                                 3.   Statement of Cash Flows


EXECUTIVE SUMMARY
Council’s year to date (YTD) operating financial performance against budget is on track to
outperform the full year budget forecast, reflecting ongoing disciplined budget management by
staff and Council’s commitment to complying with its financial sustainability policy. Current
budget figures reflect the adjustments adopted by Council in the April meeting round.

         YTD Financial Performance Summary to May 2017
                                     Current YTD Actual                 Variance    Variance   Status
                                        YTD          $m                      $m         YTD
                                     Budget                                               %
                                         $m
         Recurrent Revenue             $86.8       $88.7                    $1.9       2.3%    On track
         Recurrent Expense             $77.5       $76.4                    $1.0       1.3%    On track

         Net Capital Revenue                     $4.5        $10.2          $5.7     126.7%    On track
         Capital Expenditure                    $19.3        $12.8          $6.5      33.7%     Watch

Financial statements including Statement of Comprehensive Income (profit & loss), 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 YTD Budget
               $100
                $90
                $80
                $70
                $60
                $50
                $40
                $30
                $20
                $10
                 $-
                                 YTD Budget ($m)                  YTD Actual ($m)

                                  Operating Revenue     Operating Expenditure




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