2015-04-28 Planning and Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                                  28 APRIL 2015


Finance
14                       FINANCIAL PERFORMANCE REPORT - MARCH 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.    Capital Works Schedule


EXECUTIVE SUMMARY
Overall financial performance for the 9 months to 31 March 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. The capital works program is still tracking
below the YTD forecast, however Council has previously been advised by staff that all
projects on the program will be completed and / or be underway by 30 June 2015. A further
review of the 2014/15 budget will be undertaken with any required amendments reported to
Council for review and approval as part of the third quarter budget review.

         Financial Performance Summary
                                 Current              YTD Actual      Variance       Variance    Status
                                    YTD                      $m            $m            YTD
                                 Budget                                                    %
                                     $m
         Recurrent Revenue         $78.0                   $78.9           $0.9         1.1%    On track
         Recurrent Expense         $61.6                   $59.6           $2.0         3.2%    On track

         Capital Revenue                      $2.8          $3.3           $0.5        19.1%    On track
         Capital Expenditure                 $12.5          $8.0           $4.5        36.0%     Watch

Figure 1: Actual Performance Compared to YTD Budget
                $90
                $80
                $70
                $60
                $50
                $40
                $30
                $20
                $10
                 $-
                                YTD Budget ($m)                    YTD Actual ($m)

                                  Operating Revenue     Operating Expenditure




                                                                                                Page 119 of 211