Site Search

Presentation of Financial Statements

Presentation of the Audited Financial Statements and the Auditor’s Reports for the year ended 30 June 2020

In accordance with Section 418 (3) of the Local Government Act 1993, AlburyCity advises that the Ordinary Council Meeting to be held on Monday 23 November 2020 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ended 30 June 2020.

A summary of the Financial Statements is provided below

 

2020

$’000

2019

$’000

Income Statement

  

Total income from continuing operations

145,092

169,379

Total expenses from continuing operations

(125,213)

(117,734)

Net operating result for the year

19,879

51,645

Net operating result before grands and contributions provided for capital purposes

2,947

15,097

 

Statement of Financial Position

  

Total current assets

147,487

159,853

Total current liabilities

(41,333)

(36,484)

Total non-current assets

1,636,912

1,518,709

Total non-current liabilities

(72,523)

(59,775)

Total equity

1,670,543

1,582,303

 

Other financial information

  

Unrestricted current ratio

1.93

2.41

Operating performance ratio

3.05%

13.69%

Debt service cover ratio

5.22

7.58

Rates and annual charges outstanding ratio

11.13%

11.48%

Infrastructure renewal ratio

80.71%

76.68%

Copies of the Financial Statements and the Draft Auditor’s Reports will also be available for viewing from Monday 16 November at our Customer Service Centre, 553 Kiewa Street, Albury and at the LibraryMuseum and Lavington Library.

In accordance with section 420 of the Local Government Act 1993, submissions regarding the Financial Statements or the Auditor’s Reports must be lodged with Council by 30 November 2020 and be addressed to the Service Leader Strategy & Performance at info@alburycity.nsw.gov.au or PO Box 323, Albury NSW 2640.

Never miss an update
account_circle
mail_outline
* We'll never share your email with third parties