Financial performance For the eight months ended 29 February 2016

Council remains on target to end the year within budget No material variances that would result in budget or financial strategy limits not being met

Operating result is currently $1.7m better than budget Revenues are better than budget Expenditure is less than budget

Capital expenditure for the month was $1.7m with $10.7m spent to date Currently $7.3m less than budget and forecast to end the year $5.7m less than budget Five projects have been deferred into coming years

Currently $160m – a result of timing of capital expenditure and cash flow management Forecast to be $168m by year end - $1m increase on start of year

Credit rating in action $44m being refinanced this week $66,000 per annum saving Further $180,000 per annum savings expected as more is refinanced

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