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.