2016-07-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 18 JULY 2016



4                        JUNE 2016 INTERIM FINANCIAL PERFORMANCE REPORT
DOCUMENT INFORM AT ION




Author                           Manager Financial Services, Wayne Jensen
                                 Corporate Services Department

Index                            ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                      1.    Statement of Comprehensive Income
                                 2.    Statement of Financial Position


EXECUTIVE SUMMARY
Overall financial performance against the 2015/16 budget shows a higher than forecast operating
surplus of $8.56 million (budget $961k), capital revenues of $7.4 million meeting budget, and
capital expenditure predominately completed. Note that final accounting adjustments are still in
progress, and as such the figures provided in this report are interim results. A further report on
2015/16 financial performance will be provided following the preparation of the annual report
including the financial statements.

         Interim Financial Performance Summary to 30 June 2016
                                   Current YTD Actual      Variance                Variance    Status
                                      YTD          $m            $m                    YTD
                                   Budget                                                %
                                       $m
         Recurrent Revenue           $88.2       $90.2          $2.0                  2.3%    On track
         Recurrent Expense           $87.2       $81.6          $5.6                  6.4%    On track

         Net Capital Revenue                  $7.3        $7.4           $0.1         1.3%    On track
         Capital Expenditure                 $35.6       $28.1           $7.5        21.2%    On track

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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