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Public notice – 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), Tenterfield Shire Council advises that the Ordinary Council meeting to be held on 25 November 2020 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30/06/2020.

A summary of the Financial Statements is provided below.

  2020     2019
  $ ‘000  $ ‘000 
Income Statement    
Total income from continuing operations 34,241 33,596
Total expenses from continuing operations 28,209 23,326
Operating result from continuing operations 6,032 10,270
Net operating result for the year 6,032 10,270
Net operating result before grants and contributions provided for capital purposes (307) 831
Statement of Financial Position    
Total current assets 23,191 24,088
Total current liabilities (7,896) (5,245)
Total non-current assets 449,071 446,347
Total non-current liabilities (11,976) (12,654)
Total equity 452,390 452,536
Other financial information    
Unrestricted current ratio (times) 2.17 3.93
Operating performance ratio 1.14% 2.96%
Debt service cover ratio (times) 6.49 7.39
Rates and annual charges outstanding ratio (%) 7.55% 7.49%
Infrastructure renewals ratio (%) 102.03% 236.56%
Own source operating revenue ratio (%) 39.63% 39.08%
Cash expense cover ratio (months) 8.77 12.48

In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.

Copies of the Audited Financial Statements and the Auditor’s Reports may be inspected at:

Internet: www.tenterfield.nsw.gov.au

Locations: 247 Rouse Street, Tenterfield NSW 2372

Submissions close one week after the above public meeting has been held.

 

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