Public notice: Financial Statements 2021-22
Tuesday 6 December 2022
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Inner West Council advises that the Extraordinary Council Meeting to be held on Tuesday 13 December 2022 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2022.
Copies of the audited Financial Statements are available on Council's engagement website, Your Say Inner West, and hard copies are available to be viewed at Council’s service centres in Ashfield, Leichhardt and Petersham.
A summary of the Financial Statements is provided below.
The Financial Statements are on exhibition and community members are invited to provide feedback.
In accordance with Section 420 of the Local Government Act 1993, submissions relating to the Financial Statements will be received until 11.59pm Tuesday 20 December 2022, being seven days after the December 2022 Extraordinary Council Meeting.
All feedback will be referred to Council’s External Auditors in accordance with the Local Government Act 1993.
Visit Your Say Inner West to view the Financial Statements and provide your feedback.
Or view the Financial Statements from Monday to Friday from 8:30am to 5:00pm at:
- Ashfield Service Centre – 260 Liverpool Road, Ashfield
- Leichhardt Service Centre – 7-15 Wetherill Street, Leichhardt
- Petersham Service Centre – 2-14 Fisher Street, Petersham
You can also provide feedback by:
- Mail: Inner West Council, PO Box 14, Petersham NSW 2049
- Email: council@innerwest.nsw.gov.au
- In-person: at Ashfield, Leichhardt or Petersham Service Centres
Feedback closes 20 December 2022.
Summary of Financial Statements 2021/22
| Income statement |
2022
$'000 |
2021 Restated
($'000) |
|
Total income from continuing operations
|
268,002
|
274,825
|
|
Total expense from continuing operations
|
247,974
|
248,698
|
|
Operating results from continuing operations
|
20,028
|
26,127
|
|
Net operating result for the year
|
20,028
|
26,127
|
|
Net operating result before grants and contributions provided for capital purposes
|
(10,744)
|
(528)
|
|
Statement of financial position
|
|
Total current assets
|
271,442
|
288,086
|
|
Total current liabilities
|
105,774
|
77,996
|
|
Total non-current assets
|
2,563,451
|
2,379,256
|
|
Total non-current liabilities
|
40,160
|
43,020
|
|
Total equity
|
2,688,959
|
2,546,326
|
|
Other financial information
|
|
Unrestricted current ratio (times)
|
3.85
|
5.61
|
|
Operating performance ratio (%)
|
-3.40%
|
3.27%
|
|
Debt service cover ratio (times)
|
6.39
|
9.51
|
|
Rates and annual charges outstanding ratio (%)
|
7.91%
|
8.45%
|
|
Infrastructure renewals ratio (%)
|
32.51%
|
223.04%
|
|
Own source operating revenue ratio (%)
|
82.78%
|
85.08%
|
|
Cash expense cover ratio (months)
|
12.13
|
12.46
|