Presentation of financial statements for 2018/2019
Council’s Audited Financial Statements and the Auditor’s Reports for the year ended 30 June, 2019 will be presented to the 11 November 2019 Ordinary meeting of Council starting at 5pm.
The summary of those statements appears below.
| 2019 | 2018 | |
| $’000 | $’000 | |
| Income statement | ||
| Total income from continuing operations | 35,578 | 31,403 |
| Total expenses from continuing operations | 27,713 | 23,966 |
| Operating result from continuing operations | 7,865 | 7,437 |
| Net operating result for the year | 7,865 | 7,437 |
| Net operating result before grants and contributions provided for capital purposes | (610) | (792) |
| Statement of Financial Position | ||
| Total current assets | 18,963 | 21,615 |
| Total current liabilities | 5,952 | 5,208 |
| Total non-current assets | 442,798 | 402,690 |
| Total non-current liabilities | 3,231 | 4,321 |
| Total equity | 452,578 | 414,776 |
| Other financial information | ||
| Unrestricted current ratio | 3.76 | 5.63 |
| Operating performance ratio | 8.55% | 8.98% |
| Building infrastructure renewal ratio | 210.94% | 318.22% |
| Debt service cover ratio | 24.94 | 21.21 |
| Rates and annual charges outstanding percentage | 6.86% | 6.89% |
Under Section 420 of the Local Government Act, 1993, any person may make a submission to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports. Submissions must be in writing and must be lodged with the council by 9 November 2019. A copy of Council’s Audited Statements are available for inspection at Council’s Administration Building, Stratheden Street, Kyogle during normal office hours or can be viewed by clicking here.
