Unrestricted Funds position (closing budget position) at 31 August 2015 including a graph comparing the current year month end position to the previous year; Statement of Financial Activity on the Rate Setting Statement adopted in the annual budget); and Summary of Cash Investments as at 31 August 2015. Timing differences in financial reporting are due to the monthly spread of the budget cash flow variances. That is, income or expenditure is estimated over a twelve month period and actual receipt and expenditure of funds may not occur in the month estimated. This will result in some income and expenditure being recognised in different periods, ie timing differences originate in one period and reverse or "turn around" in one or more subsequent periods. Note: timing differences will not result in a forecast adjustment as the expenditure or income item will still be captured in the financial year in question. Strategic and Community Services Year to date revenue unfavourable variance of ($13,419) – Year to date expenditure favourable variance of $864,714 – Year to date net result favourable variance of $851,295 – to ATTACHMENT 4 for explanation of variances. Office of Chief Executive and Corporate Services Year to date revenue unfavourable variance of ($1,375,148) – Year to date expenditure favourable variance of $1,143,252 – Year to date net result unfavourable variance of ($231,897) – Refer to ATTACHMENT 4 for explanation of variances. Infrastructure Services Year to date revenue unfavourable variance of ($419,512) – Year to date expenditure favourable variance of $3,366,097 – Year to date net result favourable variance of $2,946,585 – to ATTACHMENT 4 for explanation of variances. Statutory Services Year to date revenue unfavourable variance of ($226,707) – Year to date expenditure favourable variance of $631,015 – Year to date net result favourable variance of $404,307 – Refer to ATTACHMENT 4 for explanation of variances. Unrestricted Funds (Budget Surplus) and Cash Position
Unrestricted Funds position (closing budget position) at 31 August 2015 including a graph comparing the current year month end position to the previous year; Statement of Financial Activity on the Rate Setting Statement adopted in the annual budget); and Summary of Cash Investments as at 31 August 2015. Timing differences in financial reporting are due to the monthly spread of the budget cash flow variances. That is, income or expenditure is estimated over a twelve month period and actual receipt and expenditure of funds may not occur in the month estimated. This will result in some income and expenditure being recognised in different periods, ie timing differences originate in one period and reverse or "turn around" in one or more subsequent periods. Note: timing differences will not result in a forecast adjustment as the expenditure or income item will still be captured in the financial year in question. Strategic and Community Services Year to date revenue – unfavourable variance of ($13,419) Year to date expenditure – favourable variance of $864,714 Year to date net result – favourable variance of $851,295 to ATTACHMENT 4 for explanation of variances. Office of Chief Executive and Corporate Services Year to date revenue – unfavourable variance of ($1,375,148) Year to date expenditure – favourable variance of $1,143,252 Year to date net result – unfavourable variance of ($231,897) Refer to ATTACHMENT 4 for explanation of variances. Infrastructure Services Year to date revenue – unfavourable variance of ($419,512) Year to date expenditure – favourable variance of $3,366,097 Year to date net result – favourable variance of $2,946,585 to ATTACHMENT 4 for explanation of variances. Statutory Services Year to date revenue – unfavourable variance of ($226,707) Year to date expenditure – favourable variance of $631,015 Year to date net result – favourable variance of $404,307 Refer to ATTACHMENT 4 for explanation of variances. Unrestricted Funds (Budget Surplus) and Cash Position
Confirmed%20Minutes%20-%20Council%20meeting%2013%20October%202015.docx