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.
A summary of the Financial Statements is provided below.
$'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
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