Financial Statements 2018/19

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 25 November 2019 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2019.

A summary of the Financial Statements is provided below:

INCOME STATEMENT

Income Statement

2018/19
$'000

2017/18
$'000

Total Income from Continuing Operations

135,364

123,126

Total Expenses from Continuing Operations

114,856

107,331

Operating Result from Continuing Operations

20,508

15,795

Net Operating Result for the year

20,508

15,795

Net Operating Result before Grants & Contributions provided for Capital Purposes

4,735

7,170


STATEMENT OF FINANCIAL POSITION


2018/19
$'000

Restated 2017/18
$'000

Restated 1 July 2017
$'000

Total Current Assets

93,496

77,726

90,994

Total Current Liabilities

(40,212)

(46,056)

(38,002)

Total Non Current Assets

1,119,746

1,111,643

990,724

Total Non Current Liabilities

(8,378)

(225)

(9,689)

TOTAL EQUITY

1,164,652

1,143,088

1,034,027


PERFORMANCE MEASUREMENT INDICATORS


2018/19

2017/18

Operating Performance ratio (%)

3.34%

7.08%

Own Source Operating Revenue ratio (%)

83.83%

89.35%

Unrestricted Current ratio (times)

3.22x

2.2x

Debt Service Cover (times)

27.62x

91.17x

Rates, Annual Charges, Interest & Extra Charges outstanding percentage (%)

2.06%

1.29%

Cash Expense Cover ratio (months)

8.74 months

6.69 months


INFRASTRUCTURE ASSET PERFORMANCE INDICATORS CONSOLIDATED


2018/19

2017/18

Buildings Infrastructure & Other Structures Renewals ratio (%)

121.48%

199.63%

Infrastructure Backlog ratio (%)

6.12%

6.77%

Asset Maintenance ratio (%)

95.35%

107.92%

Cost to bring assets to agreed service level (%)

3.77%

4.10%


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:

  • in the Document Library
  • at Council’s Customer Service Centre, 200 Miller Street, North Sydney, from 9am to 5pm, Monday to Friday.

Submissions close 13 November 2019

Use the submission form 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.

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 25 November 2019 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2019.

A summary of the Financial Statements is provided below:

INCOME STATEMENT

Income Statement

2018/19
$'000

2017/18
$'000

Total Income from Continuing Operations

135,364

123,126

Total Expenses from Continuing Operations

114,856

107,331

Operating Result from Continuing Operations

20,508

15,795

Net Operating Result for the year

20,508

15,795

Net Operating Result before Grants & Contributions provided for Capital Purposes

4,735

7,170


STATEMENT OF FINANCIAL POSITION


2018/19
$'000

Restated 2017/18
$'000

Restated 1 July 2017
$'000

Total Current Assets

93,496

77,726

90,994

Total Current Liabilities

(40,212)

(46,056)

(38,002)

Total Non Current Assets

1,119,746

1,111,643

990,724

Total Non Current Liabilities

(8,378)

(225)

(9,689)

TOTAL EQUITY

1,164,652

1,143,088

1,034,027


PERFORMANCE MEASUREMENT INDICATORS


2018/19

2017/18

Operating Performance ratio (%)

3.34%

7.08%

Own Source Operating Revenue ratio (%)

83.83%

89.35%

Unrestricted Current ratio (times)

3.22x

2.2x

Debt Service Cover (times)

27.62x

91.17x

Rates, Annual Charges, Interest & Extra Charges outstanding percentage (%)

2.06%

1.29%

Cash Expense Cover ratio (months)

8.74 months

6.69 months


INFRASTRUCTURE ASSET PERFORMANCE INDICATORS CONSOLIDATED


2018/19

2017/18

Buildings Infrastructure & Other Structures Renewals ratio (%)

121.48%

199.63%

Infrastructure Backlog ratio (%)

6.12%

6.77%

Asset Maintenance ratio (%)

95.35%

107.92%

Cost to bring assets to agreed service level (%)

3.77%

4.10%


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:

  • in the Document Library
  • at Council’s Customer Service Centre, 200 Miller Street, North Sydney, from 9am to 5pm, Monday to Friday.

Submissions close 13 November 2019

Use the submission form 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.

Submission Form - Financial Statements 2018/19

Consultation has concluded