05 Financial Performance Report - Nov 2021

GENERAL COMMITTEE MEETING AGENDA                                                                    13 DECEMBER 2021


11        FINANCIAL PERFORMANCE REPORT – NOVEMBER 2021

Author                Manager Financial Services (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 30 November 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. The second budget review (BR2) for the financial year is currently underway and
will be presented at the January 2022 round of Council meetings. This will incorporate any budget
variations and emergent matters that have arisen year to date.

 YTD Financial Performance Summary
                                        Budget            Actual          Variance          Variance        Status
                                           $m                $m                $m                 %
 Operating Revenue                        $50.2            $53.0                  $2.8           5.1%      On Track
 Operating Expense                        $43.4            $43.3                  $0.1           0.9%      On Track
 Operating Position                           $6.8           $9.7                 $2.9           21.6%
 Capital Revenue                              $9.3           $9.6                 $0.2           0.0%      On Track
 Capital Expenditure*                     $13.9            $11.9                  $1.9           14.1%   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

  $60
                                                     YTD Budget ($m)
                           …          $53.0
                                                     YTD Actual ($m)
  $50
                                                                          $43.4          $43.3

  $40

  $30

  $20

  $10

     $-
                      Operating Revenue                                Operating Expenditure