Have your say

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

Return to Top

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