Finance Papers out
They must have done it either very late Friday or over the weekend but Auckland Council has released the Finance and Performance Committee Agenda for this month.
Particularly important in this agenda (embedded at the bottom) is the July to December 2014 finance figures for the Council’s OPEX and CAPEX expenditure lines.
In summary:
Auckland Council performance report for the period 1 July 2014 to 31 December 2014
Purpose
1. This report provides an overview of the Auckland Council parent performance results for the
period 1 July 2014 to 31 December 2014.Executive Summary
2. This report focuses on the highlights and achievements of the Auckland Council parent in
the key areas to achieve organisational objectives.
3. The financial overview provides an indication of how the organisation is performing against
the budget and associated financial risks.Recommendation/s
That the Finance and Performance Committee:
a) Note the performance report for the six months ended 31 December 2014, highlighting:
i. Net operating surplus of $695 million, which is $38 million favourable compared to budget.
ii. Capital expenditure of $216 million, which is $28 million lower than the year to-
date budget
………..
Source: Council agenda paper (posted at bottom of post)
So we have a first six month operating surplus (OPEX) of $695m which is $38m better than budgeted for while capital expenditure is down. I wonder what got deferred in the CAPEX spend and if it was necessary to defer that CAPEX spend.
For those interested in the numbers here they are from the report:
Seeming debt comes up quite a bit here is where we are with overall debt figures:
While below Budget amount it is still above the absolute 175% ceiling (rather than the 275% ceiling) I would rather have in place for Council debt levels.
You can read the rest of the Agenda and the finance figures (p117 onwards) below:
The Committee meets on Thursday at Town Hall
Talking Southern Auckland 