2016-05-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                               16 MAY 2016



4                     FINANCIAL PERFORMANCE REPORT - APRIL 2016
UMENT INF ORM ATION




Author                        Manager Financial Services, Wayne Jensen
                              Corporate Services Department

Index                         ECM / Subject / 22.09 – Monthly Financial Performance Report

Attachments                   1.    Statement of Comprehensive Income
                              2.    Statement of Financial Position


EXECUTIVE SUMMARY
Year to date financial performance to 30 April 2016 is generally in accordance with budget
forecasts. A review of year to date operating performance against budget to 31 March 2016 has
formed the basis for revision of the forecast position to 30 June 2016, and will form the base for
financial model projections. Proposed budget adjustments arising from this review are the subject
of a separate report to this meeting.

         Financial Performance Summary to 30 April 2016
                                 Current YTD Actual               Variance      Variance    Status
                                    YTD            $m                  $m           YTD
                                 Budget                                               %
                                     $m
         Recurrent Revenue         $83.3        $85.0                 $1.7         2.1%    On track
         Recurrent Expense         $69.5        $67.2                 $2.3         3.3%    On track

         Net Capital Revenue               $5.0        $5.0             $0         0.6%    On track
         Capital Expenditure              $28.5       $22.2           $6.4          22%     Watch

Financial statements including Statement of Comprehensive Income and Statement of Financial
Position are included as attachments for information of Council.

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




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