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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 28 October 2024 (Item 10.03) and are on public notice from 31 October to 7 November 2024.
Submissions close 11.59pm, 7 November 2024
In accordance with Section 418 (3) of the Local Government Act 1993 (the Act), North Sydney Council advises that a Council meeting will be held on 25 November 2024 to present the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024. The report will be available on Council's website from 22 November 2024.
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
2024 (actual) $'000
2023 (actual) $'000
Total Income from Continuing Operations
151,657
157,744
Total Expenses from Continuing Operations
138,604
133,271
Operating Result from Continuing Operations
13,053
24,473
Net Operating Result for the year
13,053
24,473
Net Operating Result before Grants & Contributions provided for Capital Purposes
(3,637)
(2,280)
STATEMENT OF FINANCIAL POSITION
2024 $'000
2023 $'000
Total Current Assets
137,405
158,515
Total Current Liabilities
(56,360)
(54,805)
Total Non-Current Assets
1,664,860
1,593,191
Total Non-Current Liabilities
(33,612)
(35,044)
Total Equity
1,712,293
1,661,857
OTHER FINANCIAL INFORMATION
2024
2023
Unrestricted Current ratio (times)
2.42
2.72
Operating Performance ratio (%)
-0.02
1.33
Debt Service Cover (times)
7.9
8.11
Rates and Annual Charges outstanding ratio (%)
3.74
2.77
Buildings and Infrastructure renewals ratio (%)
231.72
86.79
Own Source Operating Revenue ratio (%)
85.36
78.9
Cash Expense Cover ratio (months)
11.84
14.28
For more information contact Council's Financial Controller 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 28 October 2024 (Item 10.03) and are on public notice from 31 October to 7 November 2024.
Submissions close 11.59pm, 7 November 2024
In accordance with Section 418 (3) of the Local Government Act 1993 (the Act), North Sydney Council advises that a Council meeting will be held on 25 November 2024 to present the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024. The report will be available on Council's website from 22 November 2024.
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
2024 (actual) $'000
2023 (actual) $'000
Total Income from Continuing Operations
151,657
157,744
Total Expenses from Continuing Operations
138,604
133,271
Operating Result from Continuing Operations
13,053
24,473
Net Operating Result for the year
13,053
24,473
Net Operating Result before Grants & Contributions provided for Capital Purposes
(3,637)
(2,280)
STATEMENT OF FINANCIAL POSITION
2024 $'000
2023 $'000
Total Current Assets
137,405
158,515
Total Current Liabilities
(56,360)
(54,805)
Total Non-Current Assets
1,664,860
1,593,191
Total Non-Current Liabilities
(33,612)
(35,044)
Total Equity
1,712,293
1,661,857
OTHER FINANCIAL INFORMATION
2024
2023
Unrestricted Current ratio (times)
2.42
2.72
Operating Performance ratio (%)
-0.02
1.33
Debt Service Cover (times)
7.9
8.11
Rates and Annual Charges outstanding ratio (%)
3.74
2.77
Buildings and Infrastructure renewals ratio (%)
231.72
86.79
Own Source Operating Revenue ratio (%)
85.36
78.9
Cash Expense Cover ratio (months)
11.84
14.28
For more information contact Council's Financial Controller on 9936 8100.
