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2022-2023 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 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

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