2015-07-21 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                 21 JULY 2015


Finance
11                       INTERIM FINANCIAL PERFORMANCE REPORT - JUNE 2015
DOCUMENT INFORM AT ION




Author                           Manager Financial Services, Wayne Jensen
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Exception Report

Attachments                      1.    Statement of Comprehensive Income
                                 2.    Statement of Financial Position
                                 3.    Capital Works Schedule


EXECUTIVE SUMMARY
Overall, the interim result for financial performance for the 12 months to 30 June 2015 shows a
positive year-to-date variance against budget, with both operating revenue and expenditure
above and below year to date (YTD) budget respectively. End of year accounting adjustments
are still being made in preparation for the annual financial statements, and as such there are
expected to be some further changes to figures. Projects still under construction within the
capital works program are expected to carry forward into the first part of the 2015/16 financial
year for completion.

         Financial Performance Summary
                                  Current YTD                     YTD Actual     Variance   Variance     Status
                                       Budget                            $m           $m         YTD
                                           $m                                                      %
         Recurrent Revenue              $85.4                           $86.6        $1.2       1.4%   On track
         Recurrent Expense              $85.3                           $77.8        $7.5       8.8%   On track

         Net Capital Revenue                           $5.9              $6.0        $0.1      2.0%    On track
         Capital Expenditure                          $24.4             $15.4        $9.0       37%     Watch

Interim 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
               $100
                $90
                $80
                $70
                $60
                $50
                $40
                $30
                $20
                $10
                 $-
                                 YTD Budget ($m)                   YTD Actual ($m)

                                  Operating Revenue      Operating Expenditure




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