2020-12-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                  14 DECEMBER 2020


    5       FINANCIAL PERFORMANCE REPORT – NOVEMBER 2020
            Author     Manager Financial Services, Trent Grauf
                       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
                        4.   Summary of Materials and Services Expenditure

        EXECUTIVE SUMMARY
        Year to date (YTD) operating performance against current budget as at 30 November 2020
        is positive, with operating revenues performing above forecast due to Council facilities and
        business activity sales revenue outperforming COVID-19 budget assumptions. Budget
        Review 2 (BR2), which is detailed in a separate report included in the December 2020
        General Committee Agenda, includes a number of proposed budget adjustments which will
        be incorporated into next month’s financial performance report.

         YTD Financial Performance Summary
                                      Budget     Actual      Variance         Variance       Status
                                         $m         $m             $m                %
         Operating Revenue             $44.1      $46.9              $2.8        6.4%       On Track
         Operating Expense             $39.9      $39.5              $0.4        0.9%       On Track
         Operating Position             $4.2        $7.4             $3.2        75.2%
         Capital Revenue                $3.7        $4.2             $0.5        14.0%      On Track
         Capital Expenditure           $10.6      $10.7              -$0.1       -1.1%      On Track

        Financial statements including Statement of Income & Expenditure, Statement of Financial
        Position (balance sheet), and Statement of Cash Flows are included as attachments for
        information for Council.

        Figure 1: Actual Performance Compared to Budget

         $50
                                        $46.9     YTD Budget ($m)
                              $44.1
         $45
                                                  YTD Actual ($m)     $39.9       $39.5
         $40
         $35
         $30
         $25
         $20
         $15
         $10
           $5
           $-
                           Operating Revenue                        Operating Expenditure


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