In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Cessnock City Council advises that the ordinary Council meeting to be held on 20/11/2024 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30/06/2024.
You can also find a helpful guide to understand the financial statements by clicking here.
You can also view these documents in person at the Council Administration building.
How to make a submission
The Annual Financial Statements will be open for comments from the community until 27 November 2024.
You can make a submission using the online form on our Together Cessnock page here.
You can also provide feedback by:
- Email: council@cessnock.nsw.gov.au
- In person, over the counter at Cessnock City Council Administration building: 62-78 Vincent St, Cessnock NSW 2325
- Mail: PO Box 152, CESSNOCK NSW 2325
Summary of the Financial Statements
Income Statement
|
2024 |
2023 |
$ '000
|
$ '000
|
| Total income from continuing operations |
207,393
|
156,284
|
| Total expenses from continuing operations |
118,449
|
122,273
|
| Operating result from continuing operations |
88,944
|
34,011
|
|
|
|
Net operating result for the year
|
88,944
|
34,011
|
|
|
|
|
Net operating result before grants and contributions provided for capital purposes
|
(15,634)
|
(23,056)
|
|
|
|
| Statement of Financial Position |
|
|
| Total current assets |
101,442
|
92,490
|
| Total current liabilities |
(45,256)
|
(30,167)
|
| Total non-current assets |
1,295,120
|
1,280,252
|
| Total non-current liabilities |
(39,358)
|
(34,137)
|
| Total equity |
1,311,948
|
1,308,438
|
|
|
|
| Other financial information |
|
|
| Unrestricted current ratio (times) |
2.03
|
2.98
|
| Operating performance ratio (%) |
(5.94)%
|
(11.75)%
|
| Debt service cover ratio (times) |
11.82
|
5.65
|
| Rates and annual charges outstanding ratio (%) |
7.28%
|
6.11%
|
|
|
|
| Infrastructure renewals ratio (%) |
329.31% |
181.96% |
|
|
|
| Own source operating revenue ratio (%) |
40.21%
|
50.98%
|
| Cash expense cover ratio (months) |
12.11
|
10.49
|