Meeting papers

GENERAL COMMITTEE MEETING                                                                           17 JUNE 2024


6.4     FINANCIAL PERFORMANCE REPORT – MAY 2024


Author                Financial Services Manager (Acting), Pauline Coles
                      Financial Services | Corporate Services Department
Index                 ECM/ Subject / 22.09 – Monthly Financial Performance Report
Attachments           1.   Statement of Income and Expenditure - May 2024
                      2.   Statement of Financial Position - May 2024
                      3.   Statement of Cashflows - May 2024
                      4.   Key Materials & Services Expenditure - May 2024


EXECUTIVE SUMMARY
Year-to-date (YTD) performance against current budget as at 31 May 2024 is positive with
operating revenues outperforming forecast and operating expenditure under forecast YTD.
Capital revenues are above forecast with total capital expenditure below forecast due to project
delays and schedule timing of delivery.


   YTD Financial Performance Summary

                                        Budget          Actual        Variance       Variance
                                                                                                     Status
                                           $m              $m              $m              %
   Operating Revenue                    $126.5          $128.9             $2.4         1.9%        On Track
   Operating Expense                    $116.7          $115.1             $1.6         1.3%        On Track
   Operating Position                      $9.8           $13.8            $4.0
   Capital Revenue                        $25.0           $32.7            $7.7        30.8%    Above Budget
   Capital Expenditure*                   $83.1           $59.4           $23.7        28.6%    Behind Budget

* Reflects constructed assets and intangibles only (excludes contributed assets).


The $4.0 million YTD positive operating variance comprises $2.2 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 $1.8 million from commercial operations. Unspent
levy and separate charge funds are constrained in reserve for future use where they are not fully
utilised in a given year.

                                                                            Budget                     Variance
                                                                                       Actual YTD
 Item                                                                         YTD                           YTD
                                                                                               $m
                                                                               $m                            $m
 General business operating position (unconstrained funds)                    $2.3           $4.5           $2.2
 Commercial operations (constrained funds) *                                  $4.9           $6.7           $1.8
 Unspent levies (constrained funds)                                           $2.6           $2.6           $0.0
 Total Council Operating Position                                             $9.8          $13.8           $4.0

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




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