Audited Financial Report for Year Ended 30 June 2014

Posted Tuesday 07 October 2014

Council proposes to present to the public the above Report and Auditor’s Reports at the Council Meeting on 11 November 2014.

INCOME STATEMENT2014 ($‘000)2013 ($‘000)
Income from Continuing Operations 44,312 48,081
Expenses from Continuing Operations 38,972 38,635
Surplus (Deficit) from Continuing Operations
Before Capital Amounts 2,418 6,672
Grants and Contributions – Capital 2,922 2,774
Net Surplus (Deficit) for Year 5,340 9,446
STATEMENT OF FINANCIAL POSITION
Total Current Assets 14,551 12,981
Total Non Current Assets 510,968 506,858
Total Current Liabilities 14,134 13,697
Total Non Current Liabilities 9,380 9,046
Total Equity 502,005 497,096
OTHER FINANCIAL INFORMATION 2014 2013
Operating Performance Ratio 0.31% (-)3.83%
Own Source Operating Revenue 88.29% 86.78%
Unrestricted Current Ratio 1.41 1.36
Debt Service Cover Ratio 2.38 2.31
Rates and Annual Charges Outstanding Ratio 1.55% 2.21%
Cash Expense Cover Ratio 3.25 3.35

Copies of the audited Financial Reports are available for inspection at the Civic Centre during normal working hours, at the Library, or on Council’s website. Enquiries to Council’s Management Accountant Christian Menday on 9978 4072.