2017-12-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                  18 DECEMBER 2017


5                             FINANCIAL PERFORMANCE REPORT - NOVEMBER 2017
DOCUMENT INFORM AT ION




Author                                Manager Financial Services, Trent Grauf
                                      Corporate Services Department

Index                                 ECM/ Subject/ 22.09 – Monthly Financial Performance Report

Attachments                           1.    Statement of Comprehensive Income
                                      2.    Statement of Financial Position
                                      3.    Statement of Cash Flows


EXECUTIVE SUMMARY
Overall year to date financial performance to November 2017 aligns with budget at this stage of
the financial year. The budget position reflected in this report and attachments includes all of the
Budget Review 2 adjustments adopted by Council in November 2017.

         YTD Financial Performance Summary to November 2017
                                     Budget       Actual    Variance                         Variance       Status
                                        $m           $m           $m                                %
         Recurrent Revenue            $44.3        $45.2         $0.9                            2.1%     On Track
         Recurrent Expense            $35.8        $35.5         $0.3                            0.9%     On Track
         Operating Position            $8.5         $9.7         $1.2                          14.5%

         Capital Revenue                              $1.1          $0.8        ($0.3)        (25.1%)     On Track
         Capital Expenditure                         $11.6         $10.5        ($1.1)         (9.9%)     On Track

Financial statements including Statement of Comprehensive Income (profit & loss), Statement of
Financial Position (balance sheet), and Statement of Cash Flows are included as attachments for
information of Council.

Figure 1: Actual Performance Compared to 2017/18 Budget
               $50
                                                             YTD Budget ($m)
               $45
                                                             YTD Actual ($m)
               $40
               $35
               $30
               $25
               $20
               $15
               $10
                         $5
                         $-
                                     Operating Revenue               Operating Expenditure

RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 18 December 2017 outlining the November year to date financial performance
against budget.



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