ANNUAL REPORT 2007-2008 CITY OF GREATER GEELONG

CITY OF GREATER GEELONG STANDARD STATEMENTS
NOTES TO STANDARD CASH FLOW STATEMENT
Council's cash position at the end of the year is $30.3M.
This will provide funds to complete projects carried over
from 2007-2008 and working capital to ensure service
provision continues in 2008-2009.
Variances to Budget
The net cash flow from operating activities of $40.5M
was $1.0M unfavourable to budget.
Operating receipts were $8.1M favourable to budget with
additional fees and charges for services provided, grants
and rates. Operating Expenditure was $9.1M
unfavourable due to increased payments for materials and
services and increased supplementary labour costs. This
was partially offset by lower employee costs and reduced
interest expense due to the deferral of the loan relating to
Leisurelink Aquatic Facility.
The Operating Activity Net Cash Inflow was effected by
income charged but not yet receipted $3.6M.
Cash flows from investing activities were $10.8M
favourable to budget.
Capital expenditure was $17.3M favourable to budget.
Incompleted works are reassessed and most of the works
not completed will be included in the carried over works
to be completed next year.
Capital income was $1.0M unfavourable to budget
mainly due to special rates and charges schemes not
commenced ($1.6M).
Outflows from financing activities were $6.3M
unfavourable due the deferral of the drawdown of the
$6.5m loan.
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