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Quarterly and Annual Reporting

2019-2020 Annual Financial Statements

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 30 November 2020 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2020.

Submissions

Submissions in writing must be lodged with City of Parramatta Council, PO Box 32, Parramatta NSW 2124 by 25 November 2020.

Copies of the reports

Copies of these reports are available for inspection at Council’s Administration Building, 126 Church Street, Parramatta and City of Parramatta Library, 1-3 Fitzwilliam St, Parramatta during business hours or by downloading the full statement.

    Summary

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    A summary of the Financial Statements is provided below.

    Income Statement 2020
    $'000
    2019
    $'000
    Total income from continuing operations 327,821 367,759
    Total expenses from continuing operations 269,865 281,963
    Operating result from continuing operations 57,956 85,796
    Net operating result for the year 57,956 85,796
    Net operating result before grants and contributions provided for capital purposes 7,783 30,037
    Statement of financial position    
    Total current assets 288,925 399,304
    Total current liabilities -95,359 -84,348
    Total non-current assets 3,327,140 2,887,603
    Total non-current liabilities -57,751 -35,002
    Total equity 3,462,955 3,167,557
    Other financial information    
    Unrestricted current ratio (times) 4.21 6.73
    Operating performance ratio (%) 1.21% -4.07%
    Debt service cover ratio (times) 3.43 3.06
    Rates and annual charges outstanding ratio (%) 7.00% 5.04%
    Infrastructure renewals ratio (%) 78.47% 57.83%
    Own source operating revenue ratio (%) 77.81% 76.36%
    Cash expense cover ratio (months) 18.42 12.41