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In accordance with statutory requirements, the Statements were placed on public exhibition for seven days from 28 October to 3 November 2021. No submissions were received during the exhibition period. The web page was viewed fifteen times, with the document downloaded six times. An online information session has been scheduled for 14 December 2021 at 6pm to provide an opportunity to explain the Financial Statements and current financial position of Council to interested members of the community.
Submissions closed 5pm, Wednesday 3 November 2021
In accordance with Section 418 (3) of the Local Government Act 1993, (the Act) North Sydney Council advises that the ordinary Council meeting to be held on 8 November 2021 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2021. View the report and minutes (when available) on Council's website.
In accordance with Section 420 of the Act, any person may make a submission in writing with respect to Council's Audited Financial Statements or the Auditor's Report.
A summary of the Financial Statements is provided below:
INCOME STATEMENT
Income Statement
2019/20 $'000
2020/21 $'000
Total Income from Continuing Operations
121,327
143,578
Total Expenses from Continuing Operations
126,460
119,866
Operating Result from Continuing Operations
(5,133)
23,712
Net Operating Result for the year
(5,133)
23,712
Net Operating Result before Grants & Contributions provided for Capital Purposes
(11,511)
(507)
STATEMENT OF FINANCIAL POSITION
2019/20 $'000
2020/21 $'000
Total Current Assets
98,000
122,352
Total Current Liabilities
(48,414)
(55,168)
Total Non-Current Assets
1,194,796
1,215,502
Total Non-Current Liabilities
(10,524)
(8,482)
Total Equity
1,233,858
1,274,204
OTHER FINANCIAL INFORMATION
2019/20
2020/21
Unrestricted Current ratio (times)
2.82
2.82
Operating Performance ratio (%)
(6.59)
1.30
Debt Service Cover (times)
15.24
19.32
Rates and Annual Charges outstanding ratio (%)
2.90
2.78
Infrastructure renewals ratio (%)
93.60
98.35
Own Source Operating Revenue ratio (%)
89.80
79.19
Cash Expense Cover ratio (months)
9.50
11.55
For more information contact Council's Manager Financial Services on 9936 8100.
In accordance with statutory requirements, the Statements were placed on public exhibition for seven days from 28 October to 3 November 2021. No submissions were received during the exhibition period. The web page was viewed fifteen times, with the document downloaded six times. An online information session has been scheduled for 14 December 2021 at 6pm to provide an opportunity to explain the Financial Statements and current financial position of Council to interested members of the community.
Submissions closed 5pm, Wednesday 3 November 2021
In accordance with Section 418 (3) of the Local Government Act 1993, (the Act) North Sydney Council advises that the ordinary Council meeting to be held on 8 November 2021 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2021. View the report and minutes (when available) on Council's website.
In accordance with Section 420 of the Act, any person may make a submission in writing with respect to Council's Audited Financial Statements or the Auditor's Report.
A summary of the Financial Statements is provided below:
INCOME STATEMENT
Income Statement
2019/20 $'000
2020/21 $'000
Total Income from Continuing Operations
121,327
143,578
Total Expenses from Continuing Operations
126,460
119,866
Operating Result from Continuing Operations
(5,133)
23,712
Net Operating Result for the year
(5,133)
23,712
Net Operating Result before Grants & Contributions provided for Capital Purposes
(11,511)
(507)
STATEMENT OF FINANCIAL POSITION
2019/20 $'000
2020/21 $'000
Total Current Assets
98,000
122,352
Total Current Liabilities
(48,414)
(55,168)
Total Non-Current Assets
1,194,796
1,215,502
Total Non-Current Liabilities
(10,524)
(8,482)
Total Equity
1,233,858
1,274,204
OTHER FINANCIAL INFORMATION
2019/20
2020/21
Unrestricted Current ratio (times)
2.82
2.82
Operating Performance ratio (%)
(6.59)
1.30
Debt Service Cover (times)
15.24
19.32
Rates and Annual Charges outstanding ratio (%)
2.90
2.78
Infrastructure renewals ratio (%)
93.60
98.35
Own Source Operating Revenue ratio (%)
89.80
79.19
Cash Expense Cover ratio (months)
9.50
11.55
For more information contact Council's Manager Financial Services on 9936 8100.
