Meeting papers

GENERAL COMMITTEE MEETING                                                                           14 AUGUST 2023


6.3      FINANCIAL PERFORMANCE REPORT – JULY 2023


Author                Financial Services Manager (Acting), Pauline Coles
                      Corporate Services Department
Index                 ECM/ Subject / 22.09 – Monthly Financial Performance Report
Attachments           1.     Attachment 1 Statement of Income and Expenditure - Jul 2023
                      2.     Attachment 2 Statement of Financial Position - Jul 2023
                      3.     Attachment 3 Statement of Cashflows - Jul 2023
                      4.     Attachment 4 Key Materials & Services Expenditure - Jul 2023


EXECUTIVE SUMMARY
Performance against current budget for the month of July 2023 aligns with YTD budget at this
early stage of the new financial year. Note that budget review (BR1) carryovers (also included
in the Council meeting agenda) have not yet been adopted and are excluded from these results.


      YTD Financial Performance Summary

                                       Budget           Actual       Variance         Variance
                                                                                                         Status
                                          $m               $m             $m                %
      Operating Revenue                   $50.9          $51.1              $0.2            0.4%        On Track
      Operating Expense                   $11.4          $11.0              $0.4            3.6%        On Track
      Operating Position                  $39.6          $40.2              $0.6
      Capital Revenue                      $0.1            $0.1             $0.0             9.4%     On Track
      Capital Expenditure*                 $3.2            $2.4             $0.8            24.1%   Below Budget
* Reflects constructed assets and intangibles only (excludes contributed)


The $0.6 million full year operating surplus comprises $0.3 million general operating surplus
from activities that are funded through Council’s general rate, regulatory fees and sales of goods
and services; as well an additional $0.1 million from holiday park operations and $0.1 million
from waste operations, and a further $0.1 million in unspent levy and separate charge funds
which are constrained in reserve for future use.

                                                                                   Budget      Actual     Variance
 Item                                                                                YTD         YTD           YTD
                                                                                      $m          $m            $m
 General business operating position (unconstrained funds) *                        $37.1       $37.6          $0.5
 Unspent levies (constrained funds)                                                  $2.5        $2.6          $0.1
 Total Council Operating Position                                                   $39.6       $40.2          $0.6
* Includes Waste and Holiday Park operations as shown in the table below

Council elected to apply National Competition Policy (NCP) reforms to its Waste Management and
Holiday Parks which provides greater transparency and assists with removing anti-competitive
conduct and ensure the best allocation of Councils limited resources.




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