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, Hilltops Council advises that the Ordinary Council Meeting to be held on 28 April 2021 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the financial year ended 30 June 2020.
|A summary of the Financial Statements is provided below:||2020($’000)||2019($’000)|
|Total Income from continuing operations||67,601||70,465|
|Total expenses from continuing operations||60,537||67,114|
|Operating result from continuing operations||7,074||3,351|
|Net operating result for the year||7,074||3,351|
|Net operating result before grants and contributions provided for capital purposes||(10,587)||(7,474)|
|Statement of Financial Position|
|Total current assets||51,317||58,057|
|Total current liabilities||20,859||15,855|
|Total non-current assets||639,751||573,966|
|Total non-current liabilities||27,526||18,762|
|Other financial information|
|Unrestricted current ratio (times)||1.26||3.86|
|Operating performance ratio (%)||(21.44)%||(12.31)%|
|Debt service cover ratio (times)||3.54||4.12|
|Rates and annual charges outstanding ratio (%)||13.13%||9.93%|
|Infrastructure renewals ratio (%)||58.87%||57.15%|
|Own source operating revenue ratio (%)||50.13%||55.05%|
|Cash expense cover ratio (months)||9.64||8.52|
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 Council’s Audited Financial Statements or the Auditor’s Reports.
Copies of the audited Financial Statements and the Auditor’s Reports are available on request by email to firstname.lastname@example.org, at Customer Service at 189 Boorowa Street, Young, 6-8 Market Street Boorowa and 3 East Street Harden.
Submissions close one week after the above Public Meeting has been held.