2022-06-13 General Committee Meeting Agenda PUBLIC

GENERAL COMMITTEE MEETING AGENDA                                                                           13 JUNE 2022


4         FINANCIAL PERFORMANCE REPORT – MAY 2022

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 May 2022 is positive with
operating revenues outperforming forecast and operating expenditure below budget. Capital
revenues are above forecast with capital expenditure continuing to be delayed due to impacts on
project delivery from weather events and resource and supply chain delays.

     YTD Financial Performance Summary
                                           Budget            Actual         Variance         Variance
                                                                                                              Status
                                              $m                $m               $m                %
     Operating Revenue                      $105.2           $110.6                 $5.5           5.2%    Above Budget
     Operating Expense                         $96.3          $95.9                 $0.5           0.5%      On Track
     Operating Position                         $8.8          $14.8                 $6.0           67.8%
     Capital Revenue                           $13.0          $15.1                 $2.0           15.6%   Above Budget
     Capital Expenditure*                      $43.4          $29.5             $13.9              32.0%   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

 $120
                           $105.2     $110.6
                                                                            $96.3          $95.9
 $100

    $80

    $60

    $40

    $20

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

Council’s performance against key measures of financial sustainability has been calculated as at
May 2022. These indicators enable the reader to assess Council’s success in managing its budget,

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