Federation Council | Notes to the Financial Statements 30 June 2022
Federation Council General Purpose Financial Statements for the year ended 30 June 2022
Public Notice – Presentation of Financial Statements §Note/Subtotal§ §TocItem§ §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 Ordinary Council meeting to be held on Tuesday 29 November 2022 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30 June 2022. A summary of the Financial Statements is provided below.
2022 $ '000
2021 $ '000
55,675 42,392
47,974 51,488
Operating result from continuing operations
13,283
(3,514)
Net operating result for the year
13,283
(3,514)
1,489
(10,611)
Statement of Financial Position Total current assets Total current liabilities Total non-current assets Total non-current liabilities
55,130 (18,965) 675,096 (10,973)
37,911 (16,290) 602,391 (11,679)
Total equity
700,288
612,333
Other financial information Unrestricted current ratio (times) Operating performance ratio (%) Debt service cover ratio (times) Rates and annual charges outstanding ratio (%)
2.88 (0.03)% 13.71 6.21%
2.80 (6.35)% 13.86 5.98%
Infrastructure renewals ratio (%)
84.86%
128.28%
Own source operating revenue ratio (%) Cash expense cover ratio (months)
50.46% 19.70
51.18% 14.60
Income Statement Total income from continuing operations Total expenses from continuing operations
Net operating result before grants and contributions provided for capital purposes
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 6 December 2022. 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 30 November 2022: 100 Edward Street, Corowa 30 William Street, Urana 59 Hawkins Street, Howlong 71 Melbourne Street, Mulwala
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