2022-01-17 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    17 JANUARY 2022


4.        FINANCIAL PERFORMANCE REPORT – DECEMBER 2021

Author                Financial Services Manager (Acting), Pauline Coles
                      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) performance against current budget as at 31 December 2021 is positive with
operating revenues outperforming forecast and operating expenditure slightly under forecast YTD.
Capital revenues are in line with forecast with capital expenditure slightly behind due to the timing
of project delivery.
Budget Review 2 (BR2) which is detailed in a separate report included in the January 2021 General
Committee meeting agenda, includes a number of proposed adjustments which will be
incorporated into next month’s financial performance report once adopted.

     YTD Financial Performance Summary
                                       Budget            Actual        Variance      Variance
                                                                                                         Status
                                          $m                $m              $m             %
     Operating Revenue                    $52.7           $56.0              $3.3           6.3%        On Track
     Operating Expense                    $51.6           $51.3              $0.2           0.4%        On Track
     Operating Position                      $1.1           $4.7             $3.6      324.4%
     Capital Revenue                         $9.4           $9.9             $0.6           6.0%        On Track
     Capital Expenditure*                 $18.2           $15.3              $3.0           16.2%     Below Budget
* Reflects constructed assets and intangibles only (excludes contributed)

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

  $60                                $56.0
                       $52.7
                                                                        $51.6       $51.3
  $50

  $40

  $30

  $20

  $10

     $-
                      Operating Revenue                             Operating Expenditure
                                  YTD Budget ($m)          YTD Actual ($m)



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