Public Notice - Presentation of Financial Statements for financial year ended 30 June 2020

General Purpose Financial Statements for the year ended 30 June 2020

Public notice – Presentation of financial statements

as per Section 418 (3) of the Local Government Act.

In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Moree Plains Shire Council advises that the Ordinary Council meeting to be held on 10 December 2020 at 5pm will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2020.

A summary of the Financial Statements is provided below.

2020

$ '000

2019

$ '000

Income Statement

Total income from continuing operations

77,102

67,055

Total expenses from continuing operations

60,090

56,285

Operating result from continuing operations

10,770

10,770

Net operating result for the year

17,102

10,770

Net operating result before grants and contributions provided for capital purposes

(944)

1,225

Statement of Financial Position

Total current assets

53,582

51,842

Total current liabilities

(27,457)

(12,443)

Total non-current assets

463,787

526,077

Total non-current liabilities

(35,123)

(50,701)

Total equity

454,789

514,775

Other financial information

Unrestricted current ratio (times)

1.75

3.49

Operating performance ratio (%)

-0.02%

5.81%

Debt service cover ratio (times)

2.38

5.09

Rates and annual charges outstanding ratio (%)

7.69%

5.83%

Infrastructure renewals ratio (%)

132.62%

118.87%

Own source operating revenue ratio (%)

61.91%

68.53%

Cash expense cover ratio (months)

8.61

9.14

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.

Copies of the Audited Financial Statements and the Auditor’s Reports may be inspected at:

Internet:                                                           www.mpsc.nsw.gov.au

Locations:                                                       Main Office - Level 2, Max Centre, 30 Heber Street, Moree

                                                                           Moree Branch Library – 36 Balo Street, Moree

                                                                           Mungindi Library and Office - 153 St George Street, Mungindi

Submissions close one week after the above public meeting has been held.