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Consultation has concluded
In accordance with statutory requirements, the draft audited Financial Statements must be publicly notified for a minimum of 7 days. The draft audited Statements were presented to the Council meeting held 12 December 2022 and are on public exhibition from 14 December 2022 to 4 January 2023.
Submissions close 9am, 4 January 2023
In accordance with Section 418 (3) of the Local Government Act 1993 (the Act), North Sydney Council advises that an Extraordinary Council meeting will be held on 16 January 2023 to present the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2022. The report will be available on Council's website from 6 January 2022.
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
2020/21 $'000
2021/22 $'000
Total Income from Continuing Operations
143,578
141,713
Total Expenses from Continuing Operations
119,866
118,243
Operating Result from Continuing Operations
23,712
23,470
Net Operating Result for the year
23,712
23,470
Net Operating Result before Grants & Contributions provided for Capital Purposes
(507)
2,792
STATEMENT OF FINANCIAL POSITION
2020/21 $'000
2021/22 $'000
Total Current Assets
122,352
153,102
Total Current Liabilities
(55,168)
(51,008)
Total Non-Current Assets
1,215,502
1,416,791
Total Non-Current Liabilities
(8,482)
(37,281)
Total Equity
1,274,204
1,481,604
OTHER FINANCIAL INFORMATION
2020/21
2021/22
Unrestricted Current ratio (times)
2.82
2.71
Operating Performance ratio (%)
1.30
4.15
Debt Service Cover (times)
19.32
17.38
Rates and Annual Charges outstanding ratio (%)
2.78
2.94
Infrastructure renewals ratio (%)
98.35
158.28
Own Source Operating Revenue ratio (%)
79.19
80.51
Cash Expense Cover ratio (months)
11.55
15.39
For more information contact Council's Manager Financial Services on 9936 8100.
In accordance with statutory requirements, the draft audited Financial Statements must be publicly notified for a minimum of 7 days. The draft audited Statements were presented to the Council meeting held 12 December 2022 and are on public exhibition from 14 December 2022 to 4 January 2023.
Submissions close 9am, 4 January 2023
In accordance with Section 418 (3) of the Local Government Act 1993 (the Act), North Sydney Council advises that an Extraordinary Council meeting will be held on 16 January 2023 to present the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2022. The report will be available on Council's website from 6 January 2022.
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
2020/21 $'000
2021/22 $'000
Total Income from Continuing Operations
143,578
141,713
Total Expenses from Continuing Operations
119,866
118,243
Operating Result from Continuing Operations
23,712
23,470
Net Operating Result for the year
23,712
23,470
Net Operating Result before Grants & Contributions provided for Capital Purposes
(507)
2,792
STATEMENT OF FINANCIAL POSITION
2020/21 $'000
2021/22 $'000
Total Current Assets
122,352
153,102
Total Current Liabilities
(55,168)
(51,008)
Total Non-Current Assets
1,215,502
1,416,791
Total Non-Current Liabilities
(8,482)
(37,281)
Total Equity
1,274,204
1,481,604
OTHER FINANCIAL INFORMATION
2020/21
2021/22
Unrestricted Current ratio (times)
2.82
2.71
Operating Performance ratio (%)
1.30
4.15
Debt Service Cover (times)
19.32
17.38
Rates and Annual Charges outstanding ratio (%)
2.78
2.94
Infrastructure renewals ratio (%)
98.35
158.28
Own Source Operating Revenue ratio (%)
79.19
80.51
Cash Expense Cover ratio (months)
11.55
15.39
For more information contact Council's Manager Financial Services on 9936 8100.
