Overview
Each year, Wagga Wagga City Council is required to present a set of audited financial statements to the elected Council and the community.
The financial statements set out the financial performance, financial position and cash flows of Council for the financial year and are also published as part of the Annual Report.
Presentation of Financial Reports
In accordance with Section 418 (3) of the Local Government Act 1993, Wagga Wagga City Council advises that the Ordinary Council Meeting to be held on 25 November 2024 will include the presentation of the audited Financial Statements and the Auditors Reports for the financial year ending 30 June 2024.
A summary of the Financial Statements is provided below:
| 2024 | 2023 | |
| $'000 | $'000 | |
| Income Statement | ||
| Total Income from Continuing Operations | 194,810 | 189,196 |
| Total Expenses from Continuing Operations | 197,478 | 148,111 |
| Operating Result from Continuing Operations | (2,668) | 41,085 |
| Net Operating Result for the year | (2,668) | 41,085 |
| Net Operating Result before Grants & Contributions Provided for Capital Purposes | (51,986) | (6,068) |
| Statement of Financial Position | ||
| Total Current Assets | 186,825 | 102,981 |
| Total Current Liabilities | (93,321) | (52,818) |
| Total Non-Current Assets | 2,277,385 | 2,217,665 |
| Total Non-Current Liabilities | (49,158) | (55,321) |
| Total Equity | 2,321,731 | 2,212,507 |
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| Other Financial Information | ||
| Unrestricted Current Ratio (times) | 4.07x | 3.27x |
| Operating Performance Ratio (%) | (4.63%) | 1.43% |
| Debt Service Cover Ratio (times) | 4.63x | 3.46x |
| Rates & Annual Charges Outstanding Ratio (%) | 5.33% | 5.17% |
| Infrastructure Renewals Ratio (%) | 96.69% | 65.21% |
| Own Source Operating Revenue Ratio (%) | 66.24% | 61.70% |
| Cash Expense Cover Ratio (months) | 21.63 | 15.92 |
View the full statement
Public feedback
In accordance with Section 420 of the Local Government Act 1993, any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.
Hard copies of the audited Financial Statements and the Auditor’s Reports may be inspected at the Wagga Wagga Civic Centre, Corner of Baylis and Morrow Streets, Wagga Wagga.
Submissions were invited until Tuesday 3 December 2024.
