On Public Exhibition - Audited Financial Reports for year ending 30 June 2022
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Consultation has concluded
The 2021/22 Financial Reports have been prepared in accordance with applicable Australian Accounting Standards (including the Australia Accounting Interpretations), the Local Government Act 1993 and Regulations and the Local Government Code of Accounting Practice and Financial Reporting.
The Local Government Code of Accounting Practice and Financial Reporting applying to NSW Council's requires the preparation and fair presentation of General Purpose Financial Statements, Special Purpose Financial Statements and Special Schedules.
A summary of the financial reports is outlined below.
Item
2021/22
($,000)
2020/21
($,000)
Income Statement
Total income from continuing operations
169,548
142,880
Total expenses from continuing operations
164,482
124,209
Operating result from continuing operations
5,066
18,671
Net operating result for the year
5,066
18,671
Net operating result for the year before grants and contributions provided for capital purposes
(27,220)
(14,972)
Statement of Financial Performance
Total current assets
150,377
119,503
Total current liabilities
(47,605)
(39,462)
Total non-current assets
1,700,188
1,714,861
Total non-current liabilities
(60,734)
(62,348)
Total equity
1,742,226
1,732,554
Other Financial Information
Operating Performance Ratio
0.88%
(9.93%)
Own Source Operating Revenue Ratio
56.13%
64.37%
Unrestricted Current Ratio
2.38x
1.84x
Debt Service Cover Ratio
4.73x
3.04x
Rates, Annual Charges, Interest & Extra Charges Outstanding Percentage
10.59%
9.36%
Cash Expense Cover Ratio
14.14 months
13.33 months
Building & Infrastructure Renewals Ratio
22.73%
76.90%
Infrastructure Backlog Ratio
15.02%
4.56%
Asset Maintenance Ratio
80.18%
86.09%
External Borrowings
52,185
57,501
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 2022.
Submissions close on Tuesday, 31 January 2023 at 4.30pm.
Submissions can be made online, by email to council@lismore.nsw.gov.au(External link) 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 17 January 2023.
The 2021/22 Financial Reports have been prepared in accordance with applicable Australian Accounting Standards (including the Australia Accounting Interpretations), the Local Government Act 1993 and Regulations and the Local Government Code of Accounting Practice and Financial Reporting.
The Local Government Code of Accounting Practice and Financial Reporting applying to NSW Council's requires the preparation and fair presentation of General Purpose Financial Statements, Special Purpose Financial Statements and Special Schedules.
A summary of the financial reports is outlined below.
Item
2021/22
($,000)
2020/21
($,000)
Income Statement
Total income from continuing operations
169,548
142,880
Total expenses from continuing operations
164,482
124,209
Operating result from continuing operations
5,066
18,671
Net operating result for the year
5,066
18,671
Net operating result for the year before grants and contributions provided for capital purposes
(27,220)
(14,972)
Statement of Financial Performance
Total current assets
150,377
119,503
Total current liabilities
(47,605)
(39,462)
Total non-current assets
1,700,188
1,714,861
Total non-current liabilities
(60,734)
(62,348)
Total equity
1,742,226
1,732,554
Other Financial Information
Operating Performance Ratio
0.88%
(9.93%)
Own Source Operating Revenue Ratio
56.13%
64.37%
Unrestricted Current Ratio
2.38x
1.84x
Debt Service Cover Ratio
4.73x
3.04x
Rates, Annual Charges, Interest & Extra Charges Outstanding Percentage
10.59%
9.36%
Cash Expense Cover Ratio
14.14 months
13.33 months
Building & Infrastructure Renewals Ratio
22.73%
76.90%
Infrastructure Backlog Ratio
15.02%
4.56%
Asset Maintenance Ratio
80.18%
86.09%
External Borrowings
52,185
57,501
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 2022.
Submissions close on Tuesday, 31 January 2023 at 4.30pm.
Submissions can be made online, by email to council@lismore.nsw.gov.au(External link) 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 17 January 2023.
