Public Notification of Audited Annual Financial Statements

No longer on display. Expired on 01 December 2024, 12:00 PM

In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Cessnock City Council advises that the ordinary Council meeting to be held on 20/11/2024 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30/06/2024.

You can also find a helpful guide to understand the financial statements by clicking here.

You can also view these documents in person at the Council Administration building.


How to make a submission

The Annual Financial Statements will be open for comments from the community until 27 November 2024.

You can make a submission using the online form on our Together Cessnock page here

You can also provide feedback by:

  • Email: council@cessnock.nsw.gov.au
  • In person, over the counter at Cessnock City Council Administration building: 62-78 Vincent St, Cessnock NSW 2325
  • Mail: PO Box 152, CESSNOCK NSW 2325

Summary of the Financial Statements

Income Statement
2024 2023
$ '000
$ '000
Total income from continuing operations 207,393
156,284
Total expenses from continuing operations 118,449
122,273
Operating result from continuing operations 88,944 
34,011



Net operating result for the year
88,944
34,011



Net operating result before grants and contributions provided for capital purposes

(15,634)
(23,056)



Statement of Financial Position

Total current assets 101,442 
92,490
Total current liabilities (45,256) 
(30,167)
Total non-current assets 1,295,120 
1,280,252
Total non-current liabilities (39,358) 
(34,137)
Total equity 1,311,948 
1,308,438



Other financial information

Unrestricted current ratio (times) 2.03
2.98
Operating performance ratio (%) (5.94)% 
(11.75)%
Debt service cover ratio (times) 11.82 
5.65
Rates and annual charges outstanding ratio (%) 7.28% 
6.11%



Infrastructure renewals ratio (%) 329.31% 181.96%



Own source operating revenue ratio (%) 40.21%
50.98%
Cash expense cover ratio (months) 12.11
10.49