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Glen Innes Severn Council 2023-24 Financial Statements
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Consultation has concluded
as per Section 418 (3) of the Local Government Act.
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Glen Innes Severn Council advises that the Ordinary Council Meeting to be held on Wednesday, 19 March 2025 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024.
A summary of the Audited Financial Statements for the period 1 July 2023 - 30 June 2024 is provided below:
2024
2023
$'000
$000
Income Statement
Total Income from continuing operations
50,562
48,823
Total expenses from continuing operations
34,240
36,276
Operating result from continuing operations
16,322
12,547
Net operating result for the year
16,322
12,547
Net operating result before grants and contributions provided for capital purposes
(4,361)
569
Statement of Financial Position
Total current assets
41,927
42,780
Total current liabilities
16,167
18,490
Total non-current assets
414,542
384,928
Total non-current liabilities
9,343
12,334
Total equity
430,959
396,884
Other financial information
Operating performance ratio
(11.16)%
4.40%
Own source operating revenue ratio
39.09%
42.70%
Unrestricted current ratio (times)
2.64
2.86
Debt service cover ratio (times)
2.89
4.54
Rates and annual charges outstanding percentage
13.07%
22.65%
Cash expense cover ratio (months)
11.22
12.16
In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission 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 via the following:
The village post offices at: Emmaville and Deepwater
Submissions close 7 business days after the March 2025 Ordinary Council Meeting has been held. For further assistance, please contact Council on (02) 6730 2300 or email council@gisc.nsw.gov.au
as per Section 418 (3) of the Local Government Act.
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Glen Innes Severn Council advises that the Ordinary Council Meeting to be held on Wednesday, 19 March 2025 will include the presentation of the Audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2024.
A summary of the Audited Financial Statements for the period 1 July 2023 - 30 June 2024 is provided below:
2024
2023
$'000
$000
Income Statement
Total Income from continuing operations
50,562
48,823
Total expenses from continuing operations
34,240
36,276
Operating result from continuing operations
16,322
12,547
Net operating result for the year
16,322
12,547
Net operating result before grants and contributions provided for capital purposes
(4,361)
569
Statement of Financial Position
Total current assets
41,927
42,780
Total current liabilities
16,167
18,490
Total non-current assets
414,542
384,928
Total non-current liabilities
9,343
12,334
Total equity
430,959
396,884
Other financial information
Operating performance ratio
(11.16)%
4.40%
Own source operating revenue ratio
39.09%
42.70%
Unrestricted current ratio (times)
2.64
2.86
Debt service cover ratio (times)
2.89
4.54
Rates and annual charges outstanding percentage
13.07%
22.65%
Cash expense cover ratio (months)
11.22
12.16
In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission 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 via the following:
The village post offices at: Emmaville and Deepwater
Submissions close 7 business days after the March 2025 Ordinary Council Meeting has been held. For further assistance, please contact Council on (02) 6730 2300 or email council@gisc.nsw.gov.au
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