Presentation of Financial Statements for the Year ended 30 June 2022
In accordance with Section 418 of the Local Government Act 1993, Tamworth Regional Council will be presenting the audited financial statements and the Auditor’s reports for the period from 1 July 2021 to 30 June 2022 at the Ordinary Council meeting of 22 November 2022, commencing at 6.30pm at the Lands Building, 25-27 Fitzroy Street, Tamworth.
A summary of the Financial Statements is provided below.
|
2022 $,000
|
2021 $,000
|
|
Income Statement
|
|
|
|
Total income from continuing operations
|
201,589
|
176,529
|
|
Total expenses from continuing operations
|
149,568
|
145,936
|
|
Operating result from continuing operations
|
52,021
|
30,593
|
| |
|
|
|
Net operating result for the year
|
52,021
|
30,593
|
| |
|
|
|
Net operating result before grants and contributions provided for capital purposes
|
(274)
|
(7,756)
|
| |
|
|
|
Statement of Financial Position
|
|
|
|
Total current assets
|
226,957
|
209,303
|
|
Total current liabilities
|
(59,849)
|
(47,900)
|
|
Total non-current assets
|
2,065,936
|
1,881,154
|
|
Total non-current liabilities
|
(95,104)
|
(92,356)
|
|
Total equity
|
2,137,940
|
1,950,201
|
|
|
|
|
Other financial information
|
|
|
|
Unrestricted current ratio (times)
|
2.48
|
2.55
|
|
Operating performance ratio (%)
|
0.37%
|
1.56%
|
|
Debt service cover ratio (times)
|
3.22
|
3.52
|
|
Rates and annual charges outstanding ratio (%)
|
6.68%
|
7.20%
|
| |
|
|
|
Infrastructure renewals ratio (%)
|
75.66%
|
68.77%
|
| |
|
|
|
Own source operating revenue ratio (%)
|
59.59%
|
64.63%
|
|
Cash expense cover ratio (months)
|
18.77
|
18.44
|
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.
The Audited Financial Statements and the Auditor’s Reports may be inspected on Council's website:
Internet: www.tamworth.nsw.gov.au/about/reports-and-registers/financial-reporting
Submissions close one week after the above public meeting has been held.