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 28 November 2022 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2022.
A summary of the Financial Statements is provided below.
$'000
Total income from continuing operations
405,745
342,331
Total expenses from continuing operations
280,849
272,880
Operating result from continuing operations
124,896
69,451
Net operating result for the year
Net operating result before grants and contributions provided for capital purposes
41,939
23,414
STATEMENT OF FINANCIAL POSITION
Total current assets
342,757
411,126
Total current liabilities
(116,779)
(118,476)
Total non-current assets
3,646,659
3,297,669
Total non-current liabilities
(38,117)
(44,882)
Total equity
3,834,520
3,545,437
OTHER FINANCIAL INFORMATION
Unrestricted current ratio (times)
4.34
5.30
Operating performance ratio (%)
1.78%
(0.19)%
Debt service cover ratio (times)
4.93
3.40
Rates and annual charges outstanding ratio (%)
9.70%
8.58%
Infrastructure renewals ratio (%)
96.58%
166.25%
Own source operating revenue ratio (%)
69.10%
78.67%
Cash expense cover ratio (months)
20.24
19.98