On Public Exhibition - 2023/24 Financial Statements

Consultation has concluded

SUMMARY OF FINANCIAL STATEMENT

For the year ended 30 June 2024

Notice is hereby given that at the Council meeting to be held Tuesday, 12 November 2024, the Audited Financial Reports and the Auditor’s Report for the period ended 30 June 2024 will be presented to the public.

A summary of the financial reports is outlined below.

Item	2023/24 ($,000)	2022/23 ($,000)
*Income Statement*
Total income from continuing operations	237,551	202,870
Total expenses from continuing operations	142,099	155,075
Operating result from continuing operations	95,452	47.795
Net operating result for the year	95,452	47.795
Net operating result for the year before grants and contributions provided for capital purposes	(8,128)	(13,416)
*Statement of Financial Performance*
Total current assets	235,586	169,833
Total current liabilities	(133,350)	(59,217)
Total non-current assets	2,034,010	1,830,286
Total non-current liabilities	(48,453)	(52,828)
Total equity	2,087,793	1,888,074
*Other Financial Information*
Unrestricted Current Ratio (times)	1.94x	2.07x
Operating Performance Ratio (%)	(2.08%)	(4.09)%
Debt Service Cover Ratio (times)	3.60x	2.89x
Rates, Annual Charges, Interest & Extra Charges Outstanding Ratio (%)	12.24%	9.95%
Infrastructure renewals ratio (%)	192.19%	259.01%
Own Source Operating Revenue Ratio (%)	43.28%	46.98%
Cash Expense Cover Ratio (months)	16.72 months	12.04 months

In accordance with Section 420 of the Local Government Act 1993, any person may make a submission to Council with respect to the Audited Financial Reports or the Auditor’s Report for Lismore City Council for the year ended 30 June 2024.

Submissions close on Tuesday, 12 November 2024 at 4.30pm.

Submissions can be made online, by email to council@lismore.nsw.gov.au or mailed to the General Manager, Lismore City Council, PO Box 23A, Lismore NSW 2480.

A copy of the audited reports will be available for inspection at Council’s Corporate Centre in Goonellabah and on Council’s website from 31 October 2024.

For enquiries please contact John Hartley on 02 66250 500.