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Council resolved that the Corporate & Works Committee meeting scheduled for 16 October 2017 as the meeting at which Council’s Financial Statements for the year ended 30 June 2017, together with the Auditor’s Reports, would be presented to the public. An extended audit process has seen this postponed to 20 November 2017. The Financial Statements are summarised below.
| 30 June 2017 |
| 30 June 2016 |
|Total income from continuing operations||104,573||115,364|
|Total expenses from continuing operations||89,877||101,052|
|Operating result from continuing operations||14,696||14,312|
|Net operating result for the year||14,696||14,312|
|Net operating result before grants and contributions provided for capital purposes||10,393||11,037|
|Total current assets||79,918||83,753|
|Total current liabilities||(42,828)||(51,408)|
|Total non-current Assets||881,448||817,416|
|Total non-current Liabilities||(67,205)||(70,558)|
|Other Financial Information|
|Operating performance ratio %||4.34%||-4.91%|
|Own source operating revenue ratio %||90.4%||92.2%|
|Unrestricted current ratio||3.87x||2.67x|
|Debt service cover ratio %||3.00x||0.18x|
|Rates and annual charges outstanding %||4.13%||3.99%|
|Cash expense cover ratio (months)||6.97 mths||4.7 mths|
|Building & infrastructure renewals ratio||103.05%||115.87%|
|Infrastructure backlog ratio||1.38%||1.04%|
|Asset maintenance ratio||1.0||0.99|
The Financial Statements will be available for inspection from 8 November to 21 November 2017 at Woollahra Council Chambers, 536 New South Head Road, Double Bay, Monday to Friday 8.30am - 4.30pm. Any person may make a submission to Council on its Financial Statements. Submissions must be in writing and received on or before 27 November 2017.
Enquiries regarding the Statements can be directed to Council’s Chief Financial Officer, Don Johnston, on 9391 7022 during office hours.