Financial Statements 2017/18
Consultation has concluded
In accordance with Section 418 (3) of the Local Government Act 1993, North Sydney Council advises that the ordinary Council meeting to be held on 10 December 2018 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2018.
A summary of the Financial Statements is provided below:
INCOME STATEMENT
Income Statement | 2017/18 $'000 | 2016/17 $'000 |
---|---|---|
Total Income from Continuing Operations | 123,126 | 133,517 |
Total Expenses from Continuing Operations | 107,331 | 108,057 |
Operating Result from Continuing Operations | 15,795 | 25,460 |
Net Operating Result for the year | 15,795 | 25,460 |
Net Operating Result before Grants & Contributions provided for Capital Purposes | 7,170 | 6,980 |
STATEMENT OF FINANCIAL POSITION
2017/18 $'000 | Restated 2016/17 $'000 | Restated 1 July 2016 $'000 | |
---|---|---|---|
Total Current Assets | 77,726 | 90,994 | 107,917 |
Total Current Liabilities | (46,056) | (38,002) | (41,444) |
Total Non Current Assets | 1,116,199 | 995,280 | 948,442 |
Total Non Current Liabilities | (225) | (9,689) | (9,705) |
TOTAL EQUITY | 1,147,644 | 1,038,583 | 1,005,210 |
PERFORMANCE MEASUREMENT INDICATORS
2017/18 | 2016/17 | |
---|---|---|
Operating Performance ratio (%) | 7.08% | 5.92% |
Own Source Operating Revenue ratio (%) | 89.35% | 80.31% |
Unrestricted Current ratio (times) | 2.2x | 3.51x |
Debt Service Cover (times) | 91.17x | 84.31x |
Rates, Annual Charges, Interest & Extra Charges outstanding percentage (%) | 1.29% | 1.13% |
Cash Expense Cover ratio (months) | 6.69 months | 7.8 months |
INFRASTRUCTURE ASSET PERFORMANCE INDICATORS CONSOLIDATED
2017/18 | 2016/17 | |
---|---|---|
Buildings Infrastructure & Other Structures Renewals ratio (%) | 199.63% | 233.52% |
Infrastructure Backlog ratio (%) | 6.58% | 0.00% |
Asset Maintenance ratio (%) | 107.92% | 99.53% |
Cost to bring assets to agreed service level (%) | 4.10% | 0.00% |
In accordance with Section 420 of the Local Government Act 1993, any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.
The document can be viewed at:
- the Document Library (on right hand side)
- Council’s Customer Service Centre, 200 Miller Street, North Sydney, from 9am to 5pm, Monday to Friday.
- Stanton Library, 234 Miller Street, North Sydney, from 9am to 9pm Monday to Thursday, 9am to 6pm on Friday and from 10am to 5pm on Saturday and Sunday.
Submissions
Use the submission form (see below) or alternatively, send submissions to:
Email - yoursay@northsydney.nsw.gov.au
Mail - General Manager
North Sydney Council
PO Box 12
NORTH SYDNEY NSW 2059
For more information contact Council's Manager Financial Services on 9936 8100.