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overview

Each year the community has an opportunity to comment on our audited financial statements, in accordance with Section 418(3) of the Local Government Act, 1993.

Council presented the audited financial statements at the Ordinary Meeting of Wednesday 27 November 2024. This included the presentation of the audited Financial Statements and the Auditors Reports for the Financial Period ending 30 June 2024.

In accordance with Section 420 of the Local Government Act 1993, members of the community had the opportunity to provide submissions on the statements and auditor’s report within seven days of the meeting.

Council received two submissions during this period. The submissions were provided to the auditors and reported to the Council meeting of 5 February 2025.


financial reports summary

Current Year

01/07/23 - 30/06/24

$'000
Previous Year

01/07/22 - 30/06/23

$'000

Income Statement

Total Income from Continuing Activities

401,505

378,076

Total Expenses from Continuing Activities

329,122

342,040

Operating result from Continuing Operations

72,383

36,036

Net Result for the Year

72,383

36,036

Net Operating Result before grants & contributions provided for capital purposes

(13,407)

(45,397)

Statement of Financial Position
Total Current Assets

281,854

241,916

Total Current Liabilities

139,039

124,151

Total Non-Current Assets

4,699,696

4,464,608

Total Non-Current Liabilities

171,435

181,062

Total Equity 4,671,076

4,401,311

Other Financial Information
Unrestricted Current Ratio

4.49x

2.58x

Operating Performance Ratio

3.33%

(2.47)%

Buildings & Infrastructure Renewal Ratio

115.59%

128.13%

Debt Service Cover Ratio

4.16x

2.99x

Rates & Annual Charges Outstanding Percentage 10.72% 10.70%

View the financial statements

You can view or download a copy of Council's Audited Financial Statements below.

Timeline

  • Timeline item 1 - complete

    Exhibition period

    25 October 2024 - Friday 29 November 2024

  • Timeline item 2 - complete

    Submissions close

    4:30pm 29 November 2024

  • Timeline item 3 - complete

    Submissions provided to auditor

  • Timeline item 4 - complete

    Submissions reported to elected Council

    5 February 2025.

We acknowledge the traditional custodians of the land on which we work and live, the Gathang-speaking people and pay our respects to all Aboriginal and Torres Strait Islander people who now reside in the MidCoast Council area. We extend our respect to elders past and present, and to all future cultural-knowledge holders.

Contact us

Email: haveyoursay@midcoast.nsw.gov.au

www.midcoast.nsw.gov.au

General enquiries - (02)7955 7777

Open Monday - Friday 8.30am to 4.30pm (excluding public holidays)

Full contact information


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