2020-05-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                   18 MAY 2020



9                      FINANCIAL PERFORMANCE REPORT - APRIL 2020
DOCUMENT INFORMATION




Author                         Director Corporate Services, Michael Shave
                               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


EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 30 April 2020 remains
positive, with operating revenue currently above budget and operating expenditure below budget.
Council’s net operating position for the 2019/20 financial year will be impacted by the COVID-19
pandemic due to lost revenues associated with the closure of key community facilities since
March, as well as through the provision of business and community financial support measures,
observed reductions in waste management collection charges and disposal fees, and additional
expenditures incurred for cleaning, personal protective equipment, lifeguard contract services
etc.

COVID-19 pandemic assumptions and their associated impact on the development of the
2020/21 budget and 10 year financial forecast are currently being determined.

        YTD Financial Performance Summary
                                    Budget     Actual   Variance      Variance          YTD          30 June
                                       $m         $m         $m             %          Status        Forecast
        Operating Revenue             $93.3     $93.0        -$0.3          -0.3%   Below Budget   Below Budget
        Operating Expense             $79.6     $78.2         $1.4          1.8%      On Track       On Track
        Operating Position            $13.7     $14.8         $1.1          8.1%
        Capital Revenue                $4.5      $6.9         $2.4          54.7%   Above Budget     On Track
        Capital Expenditure*          $22.6     $18.4         $4.2          18.6%   Below Budget     On Track
* 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.




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