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Audited financial reports
In accordance with Section 418 (3) of the Local Government Act, 1993, Wollongong City Council advises that the Ordinary Council Meeting to be held on 28 October 2008 will include the presentation of the audited Financial Reports and the Auditors Reports for the financial year ending 30 June 2008.
Audited Financial Reports Summary for the year ended 30 June, 2008.
| Current Year $’000 |
Previous Year $,000 | |
| Income statement | ||
| Income from continuing operations | 177,723 | 172,649 |
| Expenses from continuing operations | 180,880 | 170,467 |
| Operating result from continuing operations | (3,157) | 2,182 |
| Net operating result for the year | (3,157) | 2,182 |
| Net operating result for the year before grants and contributions provided for capital purposes | (11,474) | (6,720) |
| Balance sheet | ||
| Total current assets | 88,891 | 89,541 |
| Total current liabilities | 45,414 | 48,731 |
| Total non current assets | 1,587,047 | 1,095,816 |
| Total non current liabilities | 36,895 | 36,910 |
| Total equity | 1,593,629 | 1,099,716 |
| Other Financial Information | ||
| Unrestricted current ratio | 1.79:1 | 1.70:1 |
| Debt service ratio (%) | 1.1% | 1.3% |
| Rates coverage ratio (%) | 65.4% | 62.1% |
| Rates and annual charges outstanding percentage (%) | 6.6% | 6.4% |
| Building and infrastructure renewals ratio | 56.3% | n/a |
Submissions
Anyone may make a submission to Council about the Audited Financial Reports or the Auditor’s Reports. Submissions must be in writing and recieved by Council within seven days after the October Council meeting.
Last Modified: 20/10/2008
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Submissions
Submissions must be in writing and recieved by Council within seven days after the October Council meeting.
Mail:
Wollongong City Council. 41 Burelli Street, Wollongong. Attention: Financial Accountant