Monthly Financial Report September 2018 – Council 23 October 2018 Applicant City of Nedlands Officer Vanaja Jayaraman Manager Financial Services – Director Lorraine Driscoll Director Corporate & Strategy – Attachments Financial Summary (Operating) by Business Units 30 September 2018 – Capital Works & Acquisitions 30 September – 2018 Net Current Assets 30 September 2018 – Statement of Activity 30 September 2018 – Borrowings 30 September 2018 – Executive Summary Administration is required to provide Council with a monthly financial report in accordance with Regulation 34(1) of the Local Government (Financial Management) Regulations 1996. The monthly financial variance from the budget of each business unit is reviewed with the respective manager and the Executive to identify the need for any remedial action. Significant variances are highlighted to Council in the attached Monthly Financial Report. Recommendation to Council Council receives the Monthly Financial Report for 30 September 2018. Discussion/Overview The monthly financial management report meets the requirements of Regulation 34(1) and 34(5) of the Local Government (Financial Management) Regulations 1996. The monthly financial variance from the budget of each business unit is reviewed with the respective Manager and the Executive to identify the need for any remedial action. Significant variances are highlighted to Council in the Monthly Financial Report. This report gives an overview of the revenue and expenses of the City for the month of September 2018 together with a Net Assets Statement as at 30 September 2018. The operating revenue at the end of September 2018 was $31.11M represents a $1.85M favourable variance compared to the year-to-date budget.
Monthly Financial Report – September 2018 Council 23 October 2018 Applicant City of Nedlands Officer Vanaja Jayaraman – Manager Financial Services Director Lorraine Driscoll – Director Corporate & Strategy Attachments Financial Summary (Operating) by Business Units – 30 September 2018 Capital Works & Acquisitions – 30 September 2018 Net Current Assets – 30 September 2018 Statement of Activity – 30 September 2018 Borrowings – 30 September 2018 Executive Summary Administration is required to provide Council with a monthly financial report in accordance with Regulation 34(1) of the Local Government (Financial Management) Regulations 1996. The monthly financial variance from the budget of each business unit is reviewed with the respective manager and the Executive to identify the need for any remedial action. Significant variances are highlighted to Council in the attached Monthly Financial Report. Recommendation to Council Council receives the Monthly Financial Report for 30 September 2018. Discussion/Overview The monthly financial management report meets the requirements of Regulation 34(1) and 34(5) of the Local Government (Financial Management) Regulations 1996. The monthly financial variance from the budget of each business unit is reviewed with the respective Manager and the Executive to identify the need for any remedial action. Significant variances are highlighted to Council in the Monthly Financial Report. This report gives an overview of the revenue and expenses of the City for the month of September 2018 together with a Net Assets Statement as at 30 September 2018. The operating revenue at the end of September 2018 was $31.11M represents a $1.85M favourable variance compared to the year-to-date budget.
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