Strathfield Municipal Council 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, Strathfield Municipal Council advises that the ordinary Council meeting to be held on 26/03/2024 will include the presentation of the audited financial statements and the auditor’s reports for the year ended 30 June 2023.

	2023 $000’s	2022 $000’s Restated
A summary of the financial statements is provided below:
Income Statement
Total income from continuing operations	60,301	53,873
Total expenses from continuing operations	56,403	50,490
Operating result from continuing operations	3,898	3,383
Net operating result for the year	3,898	3,383
Net operating result before grants & contributions provided for capital purposes	(9,626)	(5,675)
Statement of Financial Position
Total current assets	35,268	26,762
Total current liabilities	(28,944)	(26,195)
Total non-current assets	503,600	533,295
Total non-current liabilities	(458)	(216)
Total equity	509,466	533,646
Other financial information
Operating performance ratio (%)	(16.23%)	(7.87%)
Own source operating revenue ratio (%)	72.40%	76.88%
Unrestricted current ratio (times)	4.32x	3.31x
Debt service cover ratio (times)	n/a	n/a
Rates and annual charges outstanding percentage (%)	4.86%	4.39%
Cash expense cover ratio (months)	12.77 mths	13.30 mths

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 may be inspected here.

Physical copies of the financial statements will also be made available at the following locations:

• Strathfield Council Customer Service Centre | 65 Homebush Rd, Strathfield NSW 2135
• Strathfield Council Library | 65 Rochester Street, Homebush, NSW, 2140

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