Annual Purpose Financial Statements
for the year ended 30 June 2024
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 (NSW), Upper Hunter Shire Council advises that the ordinary Council meeting to be held on 25/11/24 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30/06/24.
A summary of the Financial Statements is provided below.
| |
2024
$ '000 |
2023
$ '000 |
|
Income Statement
|
|
Total income from continuing operations
|
87,592 |
65,962 |
| Total expenses from continuing operations |
66,739 |
61,630 |
| Operating result from continuing operations |
20,853 |
4,332 |
|
|
|
| Net operating result for the year |
20,853 |
4,332 |
| |
|
|
| Net operating result before grants and contributions provided for capital purposes |
(15,531) |
(10,928) |
| |
|
|
| Statement of Financial Position |
| Total current assets |
66,010 |
57,422 |
| Total current liabilities |
(59,396) |
(39,092) |
| Total non-current assets |
1,304,319 |
1,212,801 |
| Total non-current liabilities |
(47,176) |
(47,926) |
| Total equity |
1,263,757 |
1,183,205 |
| |
|
|
| Other financial information |
| Unrestricted current ratio (times) |
0.80 |
1.26 |
| Operating performance ratio (%) |
(24.75)% |
(18.28)% |
| Debt service cover ratio (times) |
2.32 |
1.93 |
| Rates and annual charges outstanding ratio (%) |
11.24% |
8.53% |
| Infrastructure renewals ratio (%) |
171.43% |
117.12% |
| Own source operating revenue ratio (%) |
44.30% |
55.63% |
| Cash expense cover ratio (months) |
9.96 |
12.35 |
In accordance with Section 420 of the Local Government Act 1993 (NSW), 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 at:
Internet:
www.upperhunter.nsw.gov.au
Locations:
- Scone Administration Centre, 135 Liverpool Street Scone NSW 2337
- Merriwa Office, 34-40 Vennacher Street Merriwa NSW 2329
- Murrurundi Office, 47 Mayne Street Murrurundi NSW 2338
Submissions close one week after the above public meeting has been held.