2022/23 annual financial statements
Each year, individual local governments across NSW are required to present a set of audited financial statements.
Project Status: Closed
The 2022/23 annual financial statements were adopted by Council at its 20 November 2023 meeting.
Public consultation period to
Why we’re doing this
The City of Sydney’s audited financial reports and auditor’s reports for the financial year ending 30 June 2023 will be presented to Council at its meeting on 20 November 2023.
The statements set out the financial performance, financial position and cash flows of the City of Sydney for the financial year ending 30 June 2023. 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:
- General purpose financial statements
- Special purpose financial statements
- Special schedules.
Our 2022/23 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
A summary of the financial statements is provided below:
| Income Statement | 2023 $'000 |
2022 $'000 |
|---|---|---|
| Total Income from Continuing Operations | 854,103 | 676,418 |
| Total Expenses from Continuing Operations | 670,904 | 611,551 |
| Operating Result from Continuing Operations | 183,199 | 64,867 |
| Net Operating Result for the year | 183,199 | 64,867 |
| Net Operating Result before Capital Grants & Contributions | 34,668 | (4,033) |
| Balance Sheet | 2023 $'000 |
2022 $'000 |
|---|---|---|
| Total Current Assets | 676,355 | 651,937 |
| Total Current Liabilities | (216,250) | (215,726) |
| Total Non-Current Assets | 14,007,000 | 12,398,903 |
| Total Non-Current Liabilities | (110,689) | (113,367) |
| Total Equity | 14,356,416 | 12,721,747 |
| Other Financial Information | 2023 $'000 |
2022 $'000 |
|---|---|---|
| Operating Performance Ratio (excl. non-recurrent income and expense items) (%) |
4.60% | (2.41%) |
| Operating Performance Ratio (%) | 4.78% | (4.84%) |
| Own Source Operating Revenue Ratio (%) | 79.83% | 86.47% |
| Unrestricted Current Ratio | 4.27 : 1 | 4.17 : 1 |
| Unrestricted Current Ratio (less External & Internal Restrictions) |
3.62 : 1 | 2.95 : 1 |
| Debt Service Ratio | 328.85 : 1 | 177.84 : 1 |
| Rate & Annual Charges Outstanding Ratio (%) | 2.00% | 1.96% |
| Cash Expense Cover Ratio (months) | 12.04 | 12.48 |
The audited financial reports and the auditor’s reports will be presented to Council on 20 November 2023.
2022/23 annual financial statementsPDF · 14.68 MB · Last modified
How you can give feedback
Consultation closes at 5pm on Tuesday 28 November 2023.
-
Complete our online form
-
Email or post your feedback
Email [email protected] or post to:
Senior Project Manager
Strategic Engagement and Community Relations
City of Sydney
Town Hall House, Level 7, 456 Kent Street
Sydney NSW 2000
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.
