2019/20 annual financial statements
Each year, individual local governments across NSW are required to present a set of audited financial statements.
Project Status: Closed
The 2019/20 annual financial statements were adopted by Council on 16 November 2020.
Public consultation period to
Why we’re doing this
The City of Sydney’s audited financial reports and auditors reports for the financial year ending 30 June 2020 will be presented to Council at its meeting on 16 November 2020.
The statements set out the financial performance, financial position and cash flows of the City of Sydney for the financial year ending 30 June 2020. They also contain explanatory notes for the major components of income and expenditure and the financial position of assets and liabilities.
The annual financial statements comprise:
- General purpose financial statements
- Special purpose financial statements
- Special schedules.
Our 2019/20 financial statements are prepared in line with Australian accounting standards and interpretations from the Australian Accounting Standards Board, the Local Government Act 1993 and the Local Government Code of Accounting Practice and Financial Reporting.
Summary of financial statements
| Income Statement | 2020 $'000 |
2019 $'000 |
|---|---|---|
| Total Income from Continuing Operations | 732,218 | 746,261 |
| Total Expenses from Continuing Operations | 626,474 | 651,740 |
| Operating Result from Continuing Operations | 105,744 | 95,421 |
| Net Operating Result for the year | 105,744 | 95,421 |
| Net Operating Result before Grants & Contributions provided for Capital Purposes and Contribution to Light Rail | 19,448 | 97,955 |
| Balance Sheet | 2020 $'000 |
2019 $'000 |
|---|---|---|
| Total Current Assets | 590,028 | 526,832 |
| Total Current Liabilities | (173,127) | (200,632) |
| Total Non-Current Assets | 13,930,065 | 11,798,577 |
| Total Non-Current Liabilities | (64,023) | (26,314) |
| Total Equity | 14,520,093 | 12,098,463 |
| Other Financial Information | 2020 |
2019 |
|---|---|---|
| Operating Performance Ratio (excluding non-recurrent capital expenses) (%) |
0.29% | 6.01% |
| Operating Performance Ratio (%) | 0.29% | (4.16%) |
| Own Source Operating Revenue Ratio (%)/ | 85.78% | 89.08% |
| Unrestricted Current Ratio | 4.35:1 | 3.15:1 |
| Unrestricted Current Ratio (less External & Internal Restrictions) |
3.72:1 | 2.64:1 |
| Debt Service Ratio (%) | 319.18% | N/A |
| Rates & Annual Charges Outstanding Ratio (%) | 2.35% | 1.30% |
| Cash Expense Cover Ratio (months) | 9.43 | 8.51 |
2019/20 annual financial statementsPDF · 9.55 MB · Last modified
How you can give feedback
Consultation closes at 5pm on Monday 23 November 2020.
Any person can provide feedback in writing regarding the City of Sydney’s audited financial reports or auditor's reports.
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You can provide feedback by completing our online form.
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Email or post your submission
Email submissions to [email protected] or by post to:
Senior Project Officer
Strategic Engagement and Community Relations
City of Sydney
Town Hall House, Level 7, 456 Kent Street, Sydney, NSW 2000Submissions should quote ‘2019/20 annual financial statements’.
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Talk to us
Feedback may be published in publicly available reports at the end of the consultation period. Your name or organisation's name may appear in these reports with your feedback attributed. If you would like your feedback to be kept confidential, please let us know when making your submission.
