Financial Reports 2007/08
In accordance with Section 418(3) of the Local Government Act 1993, Council presented its audited Financial Reports and the Auditor’s Reports for the year ending 30 June 2008 to the public at 5pm on Wednesday 15 October 2008, immediately prior to its extraordinary meeting. The Financial Reports presented are summarised as follows:
| Section 418 (3) (b) | 2007/08 | 2006/07 | |||
| Summary of Councils Financial Reports | $'000 | $'000 | |||
| Income Statement | |||||
| Total Income from Continuing Operations | 13,204 | 10,275 | |||
| Total Expenses from Continuing Operations | 10,833 | 9,702 | |||
| Operating Result from Continuing Operations | 2,371 | 573 | |||
| Net Operating Result for Year | 2,371 | 573 | |||
| Net operating result before grants and contributions | |||||
| provided for capital purposes | 395 | 423 | |||
| Balance Sheet | |||||
| Total Current Assets | 7,391 | 8,523 | |||
| Total Current Liabilities | 2,299 | 2,387 | |||
| Total Non Current Assets | 95,791 | 85,613 | |||
| Total Non Current Liabilities | 2,852 | 3,358 | |||
| Total Equity | 98,031 | 88,391 | |||
| Other Financial Information | |||||
| Current Ratio | 3.21 : 1 | 3.57 : 1 | |||
| Unrestricted Current Ratio | 3.30 : 1 | 3.40 : 1 | |||
| Debt Service Ratio (%) | 11.0% | 8.2% | |||
| Rate Coverage Ratio (%) | 25.0% | 30.6% | |||
| Rates, Annual & Extra Charges Outstanding (%) | 11.8% | 13.6% | |||
Copies of Council's audited financial reports are available on request from Council's office.
In accordance with Section 420 of the Local Government Act 1993, any person may make a submission to Council with respect to the audited financial reports or the auditor's reports.
Submissions must be in writing and must be lodged with Council by 22 October 2008.
Contact details
Harden Shire Council
02 6386 0100 (ph)
02 6386 0105 (fax)
council@harden.nsw.gov.au
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