2021-01-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                              18 JANUARY 2021



9         FINANCIAL PERFORMANCE REPORT - DECEMBER 2020

Author             Manager Financial Services, Trent Grauf
                   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) operating performance against current budget as at 31 December 2020 is
positive, with operating revenues performing above forecast due to Council facilities and business
activity sales outperforming COVID-19 budget assumptions. The budget position presented in this
report and attachments reflects Budget Review 2 (BR2), which was adopted by Council in
December 2020 Council meeting.

 YTD Financial Performance Summary
                                   Budget             Actual         Variance       Variance         Status
                                      $m                 $m               $m              %
 Operating Revenue                   $46.4             $49.8              $3.4            7.4%     On Track
 Operating Expense                   $47.4             $47.5              -$0.1           -0.3%    On Track
 Operating Position                   -$1.0             $2.3              $3.3
 Capital Revenue                          $4.2          $5.9              $1.6            38.5%    On Track
 Capital Expenditure                 $12.0             $12.0              $0.0            0.1%     On Track

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)

                                  $49.8          YTD Actual ($m)
    $50                                                               $47.4       $47.5
                        $46.4


    $40

    $30

    $20

    $10

     $-
                   Operating Revenue                               Operating Expenditure


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