Presentation of Financial Reports: Section (418) LGA
(posted 6 Novmeber 2009)
In accordance with Section 418(3) of the Local Government Act 1993, notice is given that at the Ordinary Meeting to be held on Wednesday, 25 November 5:30pm, the Audited Financial Reports and Auditor's Reports for the period ended 30 June 2009 will be presented to Council and the Public. A summary of the financial reports is provided below:
Income statement |
"Current Year (2008/09) $'000" |
"Previous Year (2007/08) $'000" |
Total income from continuing operations |
121,869 |
108,867 |
Total expenses from continuing operations |
120,760 |
105,568 |
Operating result from continuing operations |
1,109 |
3,299 |
Net operating result for the year |
1,109 |
3,299 |
Net operating result before grants and contributions provided for capital purposes |
-21,848 |
-14,064 |
Balance sheet |
|
|
Total current assets |
40,607 |
28,146 |
Total current liabilities |
31,670 |
28,581 |
Total non-current assets |
1,192,936 |
1,157,780 |
Total non-current liabilities |
94,384 |
80,581 |
Total equity |
1,107,489 |
1,076,764 |
Other financial information |
|
|
Unrestricted current ratio |
0.96:1 |
2.34:1 |
Debt service ratio |
13.32% |
12.05% |
Rate coverage ratio |
48.22% |
49.91% |
Rates and annual charges outstanding percentage |
8.11% |
7.81% |
Building and infrastructure renewals ratio |
14.95% |
83.89% |
A copy of the Audited Financial Reports together with the auditor's reports are available at Council's offices for inspection by members of the public. In accordance with Section 420 of the Local Government Act 1993, any member of the public may make a submission to Council in respect to its audited financial reports or auditor's reports. Any submissions must be in writing and must be lodged with the Council within seven (7) days of this notice.
