Federation Council | Notes to the Financial Statements 30 June 2023
Federation Council General Purpose Financial Statements for the year ended 30 June 2023
Public Notice – Presentation of Financial Statements §Note/Subtotal§ §TocItem§ §Subnote§
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 (NSW), Federation Council advises that the Council meeting to be held on Tuesday 16 January 2024 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2023. A summary of the Financial Statements is provided below.
2023 $ '000
2022 $ '000
Income Statement Total income from continuing operations Total expenses from continuing operations
57,721 47,615
55,675 42,392
Operating result from continuing operations
10,106
13,283
Net operating result for the year
10,106
13,283
Net operating result before grants and contributions provided for capital purposes
(3,245)
1,489
Statement of Financial Position Total current assets Total current liabilities Total non-current assets Total non-current liabilities
59,527 (18,540) 737,869 (10,304)
55,130 (18,965) 675,096 (10,973)
Total equity
768,552
700,288
Other financial information Unrestricted current ratio (times) Operating performance ratio (%) Debt service cover ratio (times) Rates and annual charges outstanding ratio (%)
3.49 (3.98)% 13.60 6.70%
2.88 (0.03)% 13.71 6.21%
Infrastructure renewals ratio (%)
76.11%
84.86%
Own source operating revenue ratio (%) Cash expense cover ratio (months)
48.93% 20.10
50.46% 19.70
In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports. Submissions on the financial statements will be received in writing until 5pm Tuesday 23 January 2024. The Audited Financial Statements and the Auditor’s Reports may be inspected on the Council's website www.federationcouncil.nsw.gov.au or copies may be viewed in person at the following Council offices up till 5pm Wednesday 17 January 2024: 100 Edward Street, Corowa 30 William Street, Urana 59 Hawkins Street, Howlong 71 Melbourne Street, Mulwala
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