Strathfield Municipal Council 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, Strathfield Municipal Council advises that the ordinary Council meeting to be held on 26/03/2024 will include the presentation of the audited financial statements and the auditor’s reports for the year ended 30 June 2023.
| 2023
$000’s |
2022
$000’s Restated |
|
| A summary of the financial statements is provided below: | ||
| Income Statement | ||
| Total income from continuing operations | 60,301 | 53,873 |
| Total expenses from continuing operations | 56,403 | 50,490 |
| Operating result from continuing operations | 3,898 | 3,383 |
| Net operating result for the year | 3,898 | 3,383 |
| Net operating result before grants & contributions provided for capital purposes | (9,626) | (5,675) |
| Statement of Financial Position | ||
| Total current assets | 35,268 | 26,762 |
| Total current liabilities | (28,944) | (26,195) |
| Total non-current assets | 503,600 | 533,295 |
| Total non-current liabilities | (458) | (216) |
| Total equity | 509,466 | 533,646 |
| Other financial information | ||
| Operating performance ratio (%) | (16.23%) | (7.87%) |
| Own source operating revenue ratio (%) | 72.40% | 76.88% |
| Unrestricted current ratio (times) | 4.32x | 3.31x |
| Debt service cover ratio (times) | n/a | n/a |
| Rates and annual charges outstanding percentage (%) | 4.86% | 4.39% |
| Cash expense cover ratio (months) | 12.77 mths | 13.30 mths |
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 may be inspected below:
Strathfield Council Annual Financial Statements GPFS 2023
Physical copies of the financial statements will also be made available at the following locations:
- Strathfield Council Customer Service Centre | 65 Homebush Rd, Strathfield NSW 2135
- Strathfield Council Library | 65 Rochester Street, Homebush, NSW, 2140
Submissions close one week after the above Council meeting has been held.