Statement of Comprehensive Revenue and Expenses For the 11 months ended 31 May 2017 YTD YTD Actual YTD AP Variance May16 Note May17 2017 2017 $000s $000s $000s $000s REVENUE FROM NONEXCHANGE TRANSACTIONS 7,335 Grants and Subsidies Operational 01 10,313 8,652 1,661 6,009 Grants, Donations, Subsidies and Contributions Capital 02 7,378 11,213 (3,835) 1,703 Other Non Exchange Revenue 03 2,060 1,492 567 16,309 General Rates and Uniform Annual General Charge 04 15,790 15,663 127 36,056 Targeted Rates 37,595 37,595 (0) REVENUE FROM EXCHANGE TRANSACTIONS 360 Development and Financial Contributions Capital 05 197 641 (443) 8,963 Other Revenue 06 7,828 8,368 (540) 2,025 Metered Water Rates 07 2,203 2,364 (161) 6 Dividends 08 6 0 6 62 Interest Received 09 75 13 62 0 Other Gains/(Losses) Profit on Sale of Assets 10 (30) 11 (41) 78,827 Total Revenue 83,414 86,011 (2,597) OPERATING EXPENSES 17,115 Employee Benefit Expenses 11 17,648 16,987 662 35,511 Expenditure on Operating Activities 12 45,040 41,354 3,686 19,768 Depreciation and Amortisation 18,812 18,812 0 1,724 Financing Costs 13 1,661 1,833 (172) 74,118 Total Expenses 83,161 78,985 4,176 4,709 Net Surplus/(Deficit) before Taxation 253 7,026 (6,773) 642 Loss/(gain) on movement in FV of Interest Rate Swaps 14 (793) 0 (793) 4,067 Total Comprehensive Revenue and Expenses 1,046 7,026 (5,980) Operational Grants and Subsidies Graph 2016/17 YTD Actual: What makes up this revenue 1% 0% 3% 1% 95% 0101 Govt Grants 0120 NZTA Subsidy 0122 NZTA Safety Coordinator 0123 NZTA State Highway Refund 0145 Other Grants & Subsidies Capital Grants, Donations, Subsidies and Contributions Graph 2016/17 YTD Actual: What makes up this revenue 88% 1 6420 Grants Capital Projects 6421 NZTA Capital Notes to the Statement of Comprehensive Revenue and Expenses 11 Employee Benefit Expenses 01 Grants and Subsidies Operational (Refer to Operational Grants and Subsidies graph above) This is higher mainly due to no longer oncosting to expenditure on operating activities. As can be seen in the graph, 95% of this revenue comes from the NZTA Subsidy. We recover 6 of costs on annual plan 12 Expenditure on Operating Activities (Refer to Expenditure on Operating Activities graph below for what makes up this expenditure by activity) roading maintenance excluding emergency work. We recover 8 of costs on NZTA approved emergency work. The The unfavourable variance from annual plan is mainly due to higher roading costs relating to repair work done due to flooding. In addition expenditure variance from annual plan is mainly due to higher expenditure related to roading emergency repair work due to flooding above annual plan of $500K in rural fire, $500K of current year statute barred write off and a provision of $474k payable to central government for which increases the NZTA subsidy amount. accumulated stationary and vehicle charges that the council recovered through parking infringement fees. 02 Grants, Donations, Subsidies and Contributions Capital (Refer to Capital Grants, Donations, Subsidies and Contributions Graph above) 13 Financing Costs Interest cost is lower than the annual plan due to lower than annual plan market interest rates. This variance from annual plan is mainly due to the timing of recognizing grant funding for the HB Williams Memorial Library and Tairawhiti Navigations Projects. 14 Loss/(gain) on movement in FV of Interest Rate Swaps Fair value movement of interest rate swaps may not reflect the value at the end of the year as it is a market valuation at this point in time. 03 Other Non Exchange Revenue (Includes penalties, infringement fees, court enforcement fees, and other fees) The variance from annual plan is mainly due to higher than annual plan court enforced fees and infringement fees received. 04 General Rates and Uniform Annual General Charge The variance from annual plan is due to the timing of billing capital rates against annual plan. 05 Development and Financial Contributions Capital (Part of Capital Grants) The variance from annual plan is due to the number of development projects undertaken being less than what is budgeted for. 06 Other Revenue (Rent income, lease income, and all other fees and charges) The unfavourable variance from annual plan is mainly due to being $1.8m under annual plan as the Vehicle Testing Station and Holiday Park revenue are included within the annual plan but are actually $Nil. This is because the final decision for the phasing of GHL stage 2 was made after the adoption of the annual plan but took effect from 1 July 2016. This was offset by favourable variances over annual plan across a large number of areas including rural fire recharges and consents. 07 Metered Water Rates The variance from annual plan is mainly due to seasonal fluctuation in water usage. 08 Dividends YTD Actual represents the dividend received from LGFA for the shares we hold in LGFA. 09 Interest Received The variance from annual plan is mainly due to the level of cash and deposits held throughout the year. 10 Other Gains/(Losses) Profit on Sale of Assets YTD Actual represents the loss incurred following the GHL Phase 2 Asset transfer. Expenditure on Operating Activities Actual 2016/17 YTD: Where this expenditure is incurred Revenue Management 6% 18% 36% 4% 3% 3% 6% 14% Information Services Civic Economic Development Parking Conservation Rural Fire Three waters Solid Waste Roading Theatres Reserves Other C:\Users\pbj\Objective\objective8000\Objects\CE Report 11 May (A781125).xlsx
Total YTD Actual Revenue, Expenditure Trends Over The Year and Net Surplus vs Annual Plan 90,000 80,000 70,000 60,000 YTD Actual ($000) 50,000 40,000 30,000 20,000 10,000 10,000 Jul16 Aug16 Sep16 Oct16 Nov16 Dec16 Jan17 Feb17 Mar17 Apr17 May17 Revenue Expenditure Net surplus Annual Plan Net surplus
8,000 Reconciliation of Total YTD Comprehensive Income Between Annual Plan and Actual 6,000 4,000 2,000 (2,000) (4,000) Variance ($000) Reconciliation of Total YTD comprehensive Income between annual plan and actual ($000)
Statement of Financial Position As at 11 months ended 31 May 2017 Note Opening period Current period 30 June 2016 31 May 2017 $000s $000s Net Funds Employed (Assets less Liabilities) 1,940,087 1,924,251 08 Employee Benefits Liabilities and Suspense Net Working Capital (Current Assets less Current Liabilities) 15,973 6,587 Includes holiday pay and other current employee benefit liabilities. Current Assets (Assets expected to be realised within next 12 months) 21,250 10,969 Cash & Bank 01 282 89 09 Provisions for Other Liabilities Non Exchange Trade and Other Receivables 02 5,264 4,694 Provision for various legal matters and other liabilities. Exchange Trade and Other Receivables 03 5,718 4,341 Inventories 123 117 10 Derivative Financial Instruments Investments 04 1,333 1,377 Interest rate swaps. Non Current Assets Held for Resale 05 8,529 350 Current Liabilities (Liabilities expected to be settled within next 12 months) 37,223 17,556 11 Property Plant and Equipment Deposits Held 06 377 479 Council's Fixed assets. Trade and Other Payables 07 17,030 12,049 Employee Benefits and Suspense 08 1,897 1,725 12 Intangible Assets Borrowings 15 14,615 0 Includes computer software. Provisions for Other Liabilities 09 2,603 2,603 Derivative Financial Instruments 10 699 699 13 Biological Assets Non Current Assets (Assets expected to be recovered for more than 12 months after the reporting period) 1,977,806 1,968,768 Includes the value of livestock and forestry. Trade and Other Receivables 0 0 Property Plant and Equipment 11 1,946,217 1,930,938 14 Non Current Investments Intangible Assets 12 3,636 2,864 Includes investments in GHL and CCTO increased by $7m due to GHL transfer phase 2. Biological Assets 13 3,277 3,277 Investments 14 24,676 31,689 15 Borrowings Non Current Liabilities (Liabilities expected to be settled after 12 months) 21,747 37,929 Current portion of the borrowing for this month is nil as the adjustment to split the borrowing into current and non current occurs at the Borrowings 15 17,000 33,976 end of the financial year. At the moment all borrowing is showing as non current borrowing. Employee Benefit Liabilities 08 325 325 Provisions for Other Liabilities 16 1,698 1,698 16 Provisions for Other Liabilities Derivative Financial Instruments 10 2,723 1,930 Includes non current provisions such as Paokahu landfill and Waiapu landfill aftercare provisions. Equity #(excluding YTD Net Surplus/(Deficit) after Taxation) 1,942,998 1,924,251 Accumulated Surplus #(excluding YTD Net Surplus/(Deficit) after Taxation) 406,753 405,948 17 Special Funds Special Funds 17 36,983 37,684 Includes various reserves such as depreciation reserves. Revaluation Reserves 18 1,499,262 1,479,574 YTD Surplus / (Deficit) 2,911 1,046 18 Revaluation Reserves Notes to the statement of Financial Position 01 Cash & Bank Westpac current account balance. 02 Non Exchange Trade and Other Receivables Includes rates receivable and other current receivables such as NZTA receivables. 03 Exchange Trade and Other Receivables Includes sundry debtors, prepayments and GST where receivable. 04 Investments Includes term deposits. 05 Non Current Assets Held for Resale Includes assets held for resale. Current period is lower compared to the opening balance as GHL phase 2 assets were transferred. Gain on assets revaluation. 06 Deposits Held Includes footpath deposits, bond deposits and theatre ticket sale deposit. 07 Trade and Other Payables Includes accounts payable, sundry creditors, audit fee accruals, GST where payable & other IRD payables, Waerenga o Kuri Liability. Location:GDC File plan; Financial Management;Management Reporting;Management Reporting 2016/17;Financial Reports;[CE Report 11 May (A781125).xlsx]
Debt Graphs and Cash flow graphs As at the month ending May financial year 2016/2017 DEBT FORECASTING & TRENDS 6,000 Cashflow graph (Inverted Debt Movements) Accumulating CF 4,000 Thousands 2,000 0 2,000 4,000 6,000 8,000 10,000 12,000 30/06/2016 31/07/2016 31/08/2016 30/09/2016 31/10/2016 30/11/2016 31/12/2016 31/01/2017 28/02/2017 31/03/2017 30/04/2017 31/05/2017 Periods
Capital Expenditure for the 11 months ended 31 May 2017 30 June 2017 31 May 2017 30 June 2017 % Spent Cost Centre Period 12 Period 11 Period 12 By May 17 of Full Year Budget YTD Full Year Reforecast Full Year Reforecast $000s $000s $000s Excluding Major Projects Environment & Regulatory Service 11,689k 11,094k 12,960k 86% Conservation 0k 0k 0k NA Environmental Services Management 0k 0k 0k NA Environmental Monitoring & Hydrology 84k 81k 88k 9 Roading 11,067k 10,765k 12,594k 85% Rivers Asset Management 189k 1k 31k 4% Flood Control Schemes 0k 199k 199k 100% Wainui Foredune Protection 156k 51k 51k 100% Rivers Control & Land Drainage 193k 2k 2k 100% Operations 5,614k 2,790k 3,530k 79% Finance 260k 17k 39k 44% Information Management 1,898k 472k 631k 75% Rural Fires 5k 0k 0k 0% Wastewater 251k 518k 673k 77% Stormwater 1,104k 181k 253k 7 Water Supply 1,321k 1,130k 1,410k 80% Property Management 0k 50k 53k 94% Facilities & Plant Management 336k 205k 233k 88% Community & Staff Housing 241k 216k 236k 91% Quarry 14k 0k 1k 0% Gisborne Vehicle Testing 6k 0k 0k 0% Holiday Park 178k 0k 0k 0% Planning & Development 2,478k 1,293k 1,520k 85% Solid Waste 72k 31k 37k 84% Theatres & Halls 15k 0k 1k 0% Conveniences 76k 0k 6k 0% Reserves 1,296k 473k 549k 86% Cemeteries 14k 26k 27k 96% Community Property 456k 248k 298k 83% Property Management Arts & Public Places 287k 295k 367k 80% Pool Operations 0k 6k 6k 0% District Library Operations 261k 214k 228k 0% Grand Total (Excluding Major Projects) 19,780k 15,177k 18,010k 30 June 2017 31 May 2017 30 June 2017 % Spent Major Projects Period 12 Period 11 Period 12 By May 17 of Comments Full Year Budget YTD Full Year Reforecast Full Year Reforecast Library Expansion 4,979k 375k 950k 39% Library Project moved to next financial year Lawson Field theatre 1,000k 28k 31k 89% Navigations 2,593k 284k 325k 87% Navigation Project delayed until next financial year. Walkways and Cycleways 1,000k 0k 0k 0% Asset Management 0k 246k 262k 94% Deciper 0k 24k 44k 54% Smarter Services 0k 329k 454k 7 Titirangi Restoration 412k 314k 364k 86% Drainwise 402k 170k 438k 39% Mainly due to delay in Hirini street project Wastewater Management Options 2,970k 1,463k 1,751k 84% Waipaoa Flood Control 500k 252k 322k 78% Major Projects Total 13,856k 3,484k 4,942k Grand Total 33,636k 18,662k 22,952k Comments
Periodical CAPEX Charts 450,000.00 Capex for each month Waste Water 140,000.00 Capex for each month Storm Water 300,000.00 Capex for each month Water Supply 1, Capex for each month Roading 350,000.00 300,000.00 120,000.00 100,000.00 250,000.00 1, 250,000.00 80,000.00 60,000.00 150,000.00 800,000.00 600,000.00 150,000.00 100,000.00 50,000.00 40,000.00 20,000.00 100,000.00 50,000.00 YTD Accumulating CAPEX Charts 3,500,000.00 YTD Accumulating Capex Waste Water 1,600,000.00 YTD Accumulating Capex Storm Water 1, YTD Accumulating Capex Water Supply 12,000,000.00 YTD Accumulating Capex Roading 3,000,000.00 2,500,000.00 2,000,000.00 1,500,000.00 1, 1, 800,000.00 600,000.00 1, 800,000.00 600,000.00 10,000,000.00 8,000,000.00 6,000,000.00 4,000,000.00 500,000.00 2,000,000.00