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.

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Summary

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
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