2015-11-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                16 NOVEMBER 2015



2                        FINANCIAL PERFORMANCE REPORT - OCTOBER 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

EXECUTIVE SUMMARY
Financial performance for October is in line with current budget forecasts. A review of the budget
was undertaken based on the first quarter performance and emergent items, but the resulting
adjustments are only being considered at the Planning and Organisation Committee meeting on
the 10th November 2015 and as such are not reflected in the budget figures in this report.

         Financial Performance Summary
                                 Current              YTD Actual       Variance      Variance       Status
                                    YTD                      $m             $m           YTD
                                 Budget                                                    %
                                     $m
         Recurrent Revenue         $39.9                   $40.5           $0.6         1.7%      On track
         Recurrent Expense         $29.5                   $27.8           $1.7         5.9%      On track

         Net Capital Revenue                  $1.5          $2.0           $0.5          33%      On track
         Capital Expenditure                  $6.3          $3.6           $2.7          43%       Watch

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
                $45
                $40
                $35
                $30
                $25
                $20
                $15
                $10
                 $5
                 $-
                                YTD Budget ($m)                    YTD Actual ($m)

                                  Operating Revenue     Operating Expenditure


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 16 November 2015 providing the October 2015 monthly financial performance
report for the 2015/16 financial year.



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