Annual Financial Statements to 30/06/2018

In accordance with Section 418 (3) of the Local Government Act 1993, Bellingen Shire Council advises that the Ordinary Council Meeting to be held on 28/11/2018 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the financial year ending 30/6/2018.

Summary of Financial Reports
Period ended 30 June 2018 

2018
$'000 

2017
$'000

Income Statement

 

 

Total Income from continuing operations

37,684

30,951

Total Expenses from continuing operations

30,084

28,699

Operating result from continuing operations

7,600

2,252

Net operating result for the year

Net operating result for the year before grants and contributions provided for capital purposes

7,600

430

2,252

277

Statement of Financial Position

 

 

Total Current Assets

32,756

39,796

Total Current Liabilities

(6,726)

(6,372)

Total Non-Current Assets

433,886

426,306

Total Non-Current Liabilities

(7,832)

(8,498)

Total Equity

452,084

451,232

Other Financial Information

 

 

Unrestricted Current ratio (times)

2.33x

2.47x

Operating Performance ratio (%)

1.42%

0.68%

Debt Service Cover ratio (times)

6.34x

6.29x

Rates and Annual Charges Outstanding ratio (%)

5.3%

5.8%

Infrastructure Renewals ratio (%)

165.9%

88.0%

In accordance with Section 420 of the Local Government Act, 1993, 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 will be available on Council's website following the Council meeting on 28 November 2018.

Submissions close one week after the above meeting has been held.  Submissions should be addressed to: The General Manager, Bellingen Shire Council, PO Box 117, Bellingen 2454 or via email at council@bellingen.nsw.gov.au.