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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 20 November 2023 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2023.
Submissions
Submissions in writing must be lodged with City of Parramatta Council, PO Box 32, Parramatta NSW 2124 by 7 November 2023.
Copies of these reports are available for inspection at:
- Council’s Administration Building, 126 Church Street, Parramatta during business hours, and
- Parramatta Library, PHIVE, 5 Parramatta Square, Parramatta.
- by downloading the full statement.
Summary
A summary of the Financial Statements is provided below.
|
INCOME STATEMENT |
2023 |
2022 |
|
|
$'000 |
$'000 |
|
Total income from continuing operations |
416,006 |
405,745 |
|
Total expenses from continuing operations |
319,578 |
208,849 |
|
Operating result from continuing operations |
96,428 |
124,896 |
|
Net operating result for the year |
96,428 |
124,896 |
|
Net operating result before grants and contributions provided for capital purposes |
33,731 |
41,939 |
|
STATEMENT OF FINANCIAL POSITION |
|
|
|
Total current assets |
516,230 |
342,757 |
|
Total current liabilities |
(112,764) |
(116,779) |
|
Total non-current assets |
3,712,151 |
3,646,659 |
|
Total non-current liabilities |
(39,493) |
(38,117) |
|
Total equity |
4,076,124 |
3,834,520 |
|
OTHER FINANCIAL INFORMATION |
|
|
|
Unrestricted current ratio (times) |
5.16 |
4.34 |
|
Operating performance ratio (%) |
(0.09)% |
1.78% |
|
Debt service cover ratio (times) |
6.76 |
4.93 |
|
Rates and annual charges outstanding ratio (%) |
7.22% |
9.70% |
|
Own source operating revenue ratio (%) |
74.94% |
69.10% |
|
Cash expense cover ratio (months) |
15.19 |
20.24 |
