2020/21 annual financial statements

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

Project Status: Closed

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Why we’re doing this

The City of Sydney’s audited financial reports and the auditors reports for the financial year ending 30 June 2021 will be presented to Council at its meeting on Monday 15 November 2021.

The statements set out the financial performance, financial position and cash flows of the City of Sydney for the 2020/21 financial year. 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.

The City of Sydney 2020/21 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 2021
$’000 
2020
$’000 
 Total income from continuing operations 847,835  732,218 
 Total expenses from continuing operations 652,209  626,474 
 Operating result from continuing operations 195,626  105,744 
 Net operating result for the year 195,626  105,744 
 Net operating result before capital grants and contributions 50,925  19,448 
Balance sheet 2021
$’000 
2020
$’000 
 Total current assets 587,289  590,028 
 Total current liabilities (205,361)  (173,127) 
 Total non-current assets 12,138,190  13,930,065 
 Total non-current liabilities (86,712)  (64,023) 
 Total equity 12,433,406  14,520,093 
Other financial information 2021
2020
 Operating performance ratio
(excluding non-recurrent capital expenses)
5.14%  0.29% 
 Operating performance ratio (1.25%)  0.29% 
 Own source operating revenue ratio 78.58%  85.78% 
 Unrestricted current ratio 3.95:1  4.35:1 
 Unrestricted current ratio
(less external and internal restrictions)
3.32:1  3.72:1 
 Debt service ratio 258.47%  319.18% 
 Rates and annual charges outstanding ratio 2.16%  2.35% 
 Cash expense cover ratio (months) 10.84  9.43 
2020/21 annual financial statementsPDF · 45.22 MB · Last modified

How you can give feedback

Consultation closes at 5pm on Monday 22 November 2021.

Any person can provide feedback in writing about 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 contribution.

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