Presentation of Financial Statements – Financial Year ended 30 June 2020

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 17 November 2020 will include the presentation of the Audited Financial Statements and Auditor’s Reports for the financial year ending 30 June 2020.  A summary of the Financial Statements is provided below:

Summary of Council’s Financial Statements Current Year

2020

$’000

Previous Year

2019

$’000

Income Statement
Total income from continuing operations 69,032 70,137
Total expenses from continuing operations 62,726 59,825
Operating result from continuing operations 6,306 10,312
Net operating result for the year 6,306 10,312
Net operating result before grants and contributions provided for capital purposes (3,476) (7,335)
Statement of Financial Position
Total current assets 66,602 59,251
Total current liabilities 15,864 14,650
Total non-current assets 792,654 792,099
Total non-current liabilities 24,928 27,680
Total Equity 818,464 809,020
Other Financial Information
Operating performance ratio (%) -1.62% -4.51%
Own source operating revenue ratio (%) 65.25% 60.52%
Unrestricted current ratio 3.83 3.05
Debt service cover ratio 4.52 4.20
Rates and annual charges outstanding ratio (%) 12.15% 11.59%
Cash expense coverage ratio 8.18 9.08
Buildings and infrastructure renewals ratio (%)

Infrastructure backlog ratio (%)

69.22%

1.62%

117.78%

1.73%

Asset maintenance ratio 111.79% 107.10%

 

Copies of the Audited Financial Statements are available for viewing and download via the link below.

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, by one of the following methods:

Submissions close on Tuesday 24 November 2020 at 4pm.

Further information is available from Council on (02) 6660 0300.

 

Have Your Say...

Quick Contact

Search Council’s website

Type your search query here to find relevant pages on the Richmond Valley Council site.