2023/24 annual financial statements

​​Each year individual local governments across NSW are required to present a set of audited financial statements.​

Project Status: Open for feedback

Public consultation period to

Why we’re doing this

The City of Sydney’s audited financial reports and auditor’s reports for the financial year ending 30 June 2024 will be presented to Council at its meeting on 25 November 2024.

The statements set out the financial performance, financial position and cash flows of the City of Sydney for the financial year ending 30 June 2024. 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:

  1. General purpose financial statements
  2. Special purpose financial statements
  3. Special schedules.

Our 2023/24 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

A summary of the financial statements is provided below:


Income Statement 2024
$'000
2023
$'000
Total Income from Continuing Operations 894,576 854,103
Total Expenses from Continuing Operations 746,656 670,904
Operating Result from Continuing Operations 147,920 183,199
Net Operating Result for the year 147,920 183,199
Net Operating Result before Capital Grants & Contributions 30,081 34,668
Balance Sheet 2024
$'000
2023
$'000
Total Current Assets 870,903 675,976
Total Current Liabilities (243,279) (215,871)
Total Non-Current Assets 14,507,006 14,007,000
Total Non-Current Liabilities (100,013) (110,689)
Total Equity 15,034,617 14,356,416
Other Financial Information 2024
$'000
2023
$'000
Operating Performance Ratio
(excl. non-recurrent income and expense items) (%)
2.27% 4.60%
Operating Performance Ratio (%) 0.45% 4.78%
Own Source Operating Revenue Ratio (%) 84.47% 79.83%
Unrestricted Current Ratio 4.92 : 1 4.28 : 1
Unrestricted Current Ratio
(less External & Internal Restrictions)
4.77 : 1 3.62 : 1
Debt Service Ratio 250.50 : 1 328.85 : 1
Rate & Annual Charges Outstanding Ratio (%) 2.23% 2.00%
Cash Expense Cover Ratio (months) 10.93 12.04
The audited financial reports and the auditor’s reports will be presented to Council on 25 November 2024.
2023/24 annual financial statementsPDF · 9.56 MB · Last modified

How you can give feedback

Consultation closes at 5pm on Monday 25 November 2024.

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.

Other ways you can give feedback