In accordance with Section 418 (3) of the Local Government Act 1993, the audited Financial Statements and the Auditor’s Reports for the financial year ended 30 June 2024 will be presented to Council at its meeting on Tuesday 20 November 2024.
A summary of the Financial Statements is provided below:
|
2024 |
2023 |
| |
$'000 |
$'000 |
| Income Statement |
|
|
| Total income from continuing operations |
94,094 |
87,011 |
| Total expenses from continuing operations |
106,908 |
83,212 |
| Operating result from continuing operations |
(12,814) |
3,799 |
|
|
|
| Net operating result for the year |
(12,814) |
3,799 |
|
|
|
| Net operating result before grants and contributions provided for capital purposes |
(26,623) |
260 |
|
|
|
| Statement of Financial Position |
|
|
| Total current assets |
141,081 |
56,895 |
| Total current liabilities |
(156,072) |
(154,548) |
| Total non-current assets |
643,294 |
711,473 |
| Total non-current liabilities |
(20,779) |
(21,118) |
| Total equity |
607,524 |
592,702 |
|
|
|
|
|
|
| Other financial information |
|
|
| Unrestricted current ratio (times) |
2.63 |
0.53 |
| Operating performance ratio (%) |
(17.57)% |
(10.01)% |
| Debt service cover ratio (times) |
(1.33) |
0.15 |
| Rates and annual charges outstanding ratio (%) |
2.56% |
2.20% |
|
|
|
| Infrastructure renewals ratio (%) |
224.61% |
144.78% |
|
|
|
| Own source operating revenue ratio (%) |
64.41% |
73.15% |
| Cash expense cover ratio (months) |
6.81 |
5.15 |
In accordance with Section 420 of the Local Government Act 1993, any person may make a written public submission within seven days of the reports being presented to Council.
Submissions will be reviewed and forwarded to the Audit Office of New South Wales.
Make a submission
The closing date for Council to receive public submissions is 4pm, 27 November 2024.
Printed copies of the Audited Financial Statements and the Auditor’s Reports are also available to view at:
• Kiama Council Administration Centre: 11 Manning Street, Kiama NSW 2533
• Kiama Library: 7 Railway Parade, Kiama NSW 2533