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Presentation of Financial Statements as per Section 418 (3) of the Local Government Act
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), The City of Parramatta Council advises that the ordinary Council meeting to be held on 25 November 2024 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024.
Summary
A summary of the Financial Statements is provided below.
| INCOME STATEMENT |
2024 |
2023 |
|
$'000 |
$'000 | |
| Total income from continuing operations |
471,826 |
416,006 |
| Total expenses from continuing operations |
383,613 |
319,578 |
| Operating result from continuing operations |
88,213 |
96,428 |
| Net operating result for the year |
88,213 |
96,428 |
| Net operating result before grants and contributions provided for capital purposes |
30,761 |
33,731 |
| STATEMENT OF FINANCIAL POSITION | ||
| Total current assets |
413,964 |
516,230 |
| Total current liabilities |
(121,386) |
(112,764) |
| Total non-current assets |
4,036,591 |
3,712,151 |
| Total non-current liabilities |
(62,193) |
(39,493) |
| Total equity |
4,266,976 |
4,076,124 |
| OTHER FINANCIAL INFORMATION | ||
| Unrestricted current ratio (times) |
6.48 |
5.16 |
| Operating performance ratio (%) |
(12.08)% |
(0.09)% |
| Debt service cover ratio (times) |
20.20 |
6.76 |
| Rates and annual charges outstanding ratio (%) |
9.71% |
7.22% |
| Infrastructure renewals ratio (%) |
109.25% |
105.78% |
| Own source operating revenue ratio (%) |
84.18% |
74.94% |
| Cash expense cover ratio (months) |
15.10 |
15.19 |
In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.
Copies of the Audited Financial Statements and the Auditor’s Reports may be inspected at:
Internet: www.cityofparramatta.nsw.gov.au
Locations:
Council's Administration Building 9 Wentworth Street, Parramatta NSW, 2150
PHIVE 5 Parramatta Square, Parramatta NSW, 2150
Submissions in writing must be lodged with City of Parramatta Council, PO Box 32, Parramatta NSW 2124 by 12 November 2024.
