Public notice: Financial Statements 2023-24
Monday 28 October 2024
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Inner West Council advises that the Council Meeting to be held on Tuesday 12 November 2024 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024.
Visit Your Say Inner West to view the Financial Statements and provide your feedback.
Your Say Inner West
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 Monday 4 November 2024.
In accordance with Section 420 of the Local Government Act 1993, submissions relating to the Financial Statements will be received until 11.59pm Monday 4 November 2024. All feedback will be referred to Council’s External Auditors in accordance with the Local Government Act 1993.
Summary of financial statements 2023/24
| Income statement |
2024 ($’000) |
2023 restated ($’000) |
|
Total income from continuing operations
|
322,912 |
298,242 |
| Total expenses from continuing operations
|
310,570 |
275,705 |
|
Operating result from continuing operations
|
12,342
|
22,537
|
|
Net operating result for the year attributable to Council
|
12,342
|
22,537
|
|
Net operating result before grants and contributions provided for capital purposes
|
(12,733)
|
(6,672)
|
| Statement of financial position |
| Total current assets |
171,618 |
226,479 |
| Total current liabilities
|
123,114 |
120,184 |
| Total non-current assets |
3,156,185 |
2,970,612 |
| Total non-current liabilities |
34,021 |
35,168 |
|
Total equity
|
3,170,668
|
3,041,739
|
| Other financial information |
| Unrestricted current ratio (times) |
2.38x |
3.10x |
| Operating performance ratio (%) |
(0.65%) |
(0.59%) |
| Debt service cover ratio (times) |
10.35x |
9.22x |
| Rates and annual charges outstanding ratio (%) |
7.50% |
8.57% |
| Infrastructure renewals ratio (%) |
75.04% |
120.43% |
| Own source operating revenue ratio (%) |
88.92% |
85.56% |
| Cash expense cover ratio (months) |
5.82 months |
8.72 months |