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Financial Statements for the year ended 30 June 2017

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Updated: Google Analytics Report as per notes and requests - Wed 18 Oct Run Squiz Matrix Metadata Updates at 5pm.

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
$’000
30 June 2016
$’000
Income Statement
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
Balance Sheet
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)
Total equity 851,333 779,203
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.

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