2019-07-15 General Committee Agenda

GENERAL COMMITTEE MEETING REPORT                                                                  15 JULY 2019

10     FINANCIAL PERFORMANCE REPORT – JUNE 2019 INTERIM POSITION

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


EXECUTIVE SUMMARY
Financial performance for the 2018/19 year has resulted in an interim operating surplus of $8.3
million (budget $1.4 million), capital revenues of $8.7 million (budget $7.4 million) and capital
expenditure of $25.8 million (budget $28.4 million). Note that year-end financial adjustments are
still in progress, with a further report on final 2018/19 financial performance to be provided to
Council following the finalisation of the annual report and financial statements.

 Annual Financial Performance Summary
                                        Budget            Actual        Variance      Variance      Status
                                           $m                $m              $m             %
 Operating Revenue                        $95.1            $99.3            $4.1         4.4%    Above Budget
 Operating Expense                        $93.7            $91.0            $2.7         2.9%    Below Budget
 Operating Position                         $1.4             $8.3           $6.9       489.6%


 Capital Revenue                            $7.4             $8.7           $1.3         1.7%    Above Budget
 Capital Expenditure*                     $28.4            $25.8            $2.6         9.1%    Below Budget
* Reflects constructed assets and intangibles only (excludes contributed)


Financial statements including Statement of Operating Profit & Loss, Summary of Capital Financial
Performance, 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 Budget

  $120
                                                Full Year Budget ($m)

  $100                                          Full Year Actual ($m)


     $80

     $60

     $40

     $20

      $-
                     Operating Revenue                        Operating Expenditure




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