2019/20 annual financial statements

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

Project Status: Under review

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:

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

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.