1. Financial performance Update as at 4 August 2016

2. Draft financial results pending Audit
Currently processing asset revaluations, fair value assessments and impairments, review capital work in progress.

3. Operating result $1.4m better than budget
Revenues $1.8m ahead of budget
Expenditure $0.4m more than budget, mainly depreciation
Achieved $1m efficiency saving targeted in LTP ($9.3m over the last 2.5 years)

4. 5 significant projects deferred - $9.8m
Capital expenditure
5 significant projects deferred - $9.8m
Capital revenue less than budget due to deferred projects
Capital expenditure $12.8m less than budget

5. Summary of capital expenditure

6. $12m improvement on budget
Position at year end:
Cash on hand increased by $3.3m (budget was no increase)
Borrowing reduced by $1.8m
(Budget was to borrow $7m)
$12m improvement on budget
Now have more accurate information on forecast capital spend