2017-04-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    18 APRIL 2017


7                        FINANCIAL PERFORMANCE REPORT - MARCH 2017
DOCUMENT INFORM AT ION




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
                                 3.    Statement of Cash Flows


EXECUTIVE SUMMARY
Overall year to date (YTD) financial performance against budget shows a positive variance, with
both revenue and expenditure continuing to track above and below budget respectively.
Adjustments have been proposed as part of the budget review to address emerging items and
current significant variances, outlined in a separate report to this meeting.

         YTD Financial Performance Summary to February 2017
                                     Current YTD Actual                      Variance    Variance    Status
                                        YTD          $m                           $m         YTD
                                     Budget                                                    %
                                         $m
         Recurrent Revenue             $81.9       $84.2                          $2.3      2.8%    On track
         Recurrent Expense             $63.7       $63.2                          $0.6      0.9%    On track

         Net Capital Revenue                       $2.7            $7.7           $5.0      185%    On track
         Capital Expenditure                      $13.5            $9.1           $4.4       33%     Watch

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 YTD Budget
               $90
               $80
               $70
               $60
               $50
               $40
               $30
               $20
               $10
                $-
                                YTD Budget ($m)                    YTD Actual ($m)

                                  Operating Revenue       Operating Expenditure




                                                                                                    Page 39 of 59