Presentation of Financial Statements for the Year Ended 30 June 2024.

In accordance with Section 418 of the Local Government Act 1993, Tamworth Regional Council will be presenting the audited financial statements and the Auditor’s reports for the period from 1 July 2023 to 30 June 2024 at the Ordinary Council meeting of 26 November 2024, commencing at 6.30pm at the Lands Building, 25-27 Fitzroy Street, Tamworth.

A summary of the Financial Statements is provided below.

	2024 $,000	2023 $,000
Income Statement
Total income from continuing operations	219,743	226,337
Total expenses from continuing operations	186,828	187,193
Operating result from continuing operations	32,915	39,144

Net operating result for the year	32,915	39,144

Net operating result before grants and contributions provided for capital purposes	(2,786)	(8,188)

Statement of Financial Position
Total current assets	229,337	215,391
Total current liabilities	(59,125)	(60,355)
Total non-current assets	2,559,097	2,559,097
Total non-current liabilities	(87,921)	(90,636)
Total equity	2,641,388	2,453,339

Other financial information
Unrestricted current ratio (times)	2.05	2.12
Operating performance ratio (%)	(0.90)%	0.99%
Debt service cover ratio (times)	3.36	3.33
Rates and annual charges outstanding ratio (%)	8.59%	7.00%

Infrastructure renewals ratio (%)	74.59%	101.68%

Own source operating revenue ratio (%)	70.81%	62.41%
Cash expense cover ratio (months)	15.10	15.80

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.

The Audited Financial Statements and the Auditor’s Reports may be inspected on the council's website Financial Reporting page.

Submissions close one week after the above public meeting has been held.