2018-2019 Financial Statements now on public exhibition

In accordance with Section 418 (3) of the Local Government Act 1993 Richmond Valley Council advises that the Ordinary Meeting to be held on Tuesday 19 November 2019 will include the presentation of the Audited Financial Statements and Auditor’s Reports for the financial year ending 30 June 2019.

A summary of the Financial Statements is provided below. The complete report is available in a downloadable PDF document from the bottom of this page.

Summary of Council’s Financial Statements Current Year

2019

($’000)

Previous Year

2018

($’000)

Income Statement
Total income from continuing operations 70,137 60,008
Total expenses from continuing operations 59,825 54,328
Operating result from continuing operations 10,312 5,680
Net operating result for the year 10,312 5,680
Net operating result before grants and contributions provided for capital purposes (7,335) (5,877)
Statement of Financial Position
Total current assets 59,251 51,752
Total current liabilities 14,650 12,562
Total non-current assets 792,099 754,770
Total non-current liabilities 27,680 27,517
Total Equity 809,020 766,443
Other Financial Information
Operating performance ratio (%) -4.51% -7.31%
Own source operating revenue ratio (%) 59.84% 64.04%
Unrestricted current ratio 3.05 3.40
Debt service cover ratio 4.20 0.93
Rates and annual charges outstanding ratio (%) 11.78% 13.29%
Cash expense coverage ratio 9.08 7.81
Buildings and infrastructure renewals ratio (%)

Infrastructure backlog ratio (%)

117.78%

1.73%

86.18%

1.92%

Asset maintenance ratio 107.10% 119.15%

In accordance with Section 420 of the Local Government Act 1993, any person may make a submission in writing to Council with respect to the Audited Financial Statements or the Auditor’s Reports.

Copies of the Audited Financial Statements are available for inspection at Council’s offices 10 Graham Place Casino, Woodburn Street Evans Head as well as the Richmond Upper Clarence Regional Library, Graham Place Casino or on Council’s website: www.richmondvalley.nsw.gov.au.

How to make a submission

Any person may make a written submission during the exhibition period, by one of the following methods:

  • Email to council@richmondvalley.nsw.gov.au
  • Fill out a Make a Submission form on this website here.
  • By post—Locked Bag 10 CASINO NSW 2470
  • By delivery to a Council Administration Centre—Casino or Evans Head.

Further information is available from Council on (02) 66600300.

Submissions close on Tuesday 26 November 2019 at 4pm

Full financial statements available below:

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