Financial Statements 2023-24
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Project Information
In accordance with Section 418 (3) of the Local Government Act 1993 (NSW), Cessnock City Council advises that the ordinary Council meeting to be held on 20/11/24 will include the presentation of the audited Financial Statements and the Auditor’s Reports for the year ending 30/06/2024.
Click here to view the Annual Financial Statements 2023-24 in full.
You can also find a helpful guide to understand the financial statements by clicking here.
You can also view these documents at the Council Administration building
How to make a submission
The Annual Financial will be open for comments from the community until 27 November 2024.
You can make a submission using the online form located below or by clicking this link.
You can also provide feedback by:
- Email: council@cessnock.nsw.gov.au;
- In person: over the counter at Cessnock City Council Administration building: 62-78 Vincent St, Cessnock NSW 2325
- Mail: PO Box 152, CESSNOCK NSW 2325
Summary of the Financial Statements
| Income Statement | 2024 | 2023 |
| $ '000 | $ '000 | |
| Total income from continuing operations | 207,393 | 156,284 |
| Total expenses from continuing operations | 118,449 | 122,273 |
| Operating result from continuing operations | 88,944 | 34,011 |
| Net operating result for the year | 88,944 | 34,011 |
Net operating result before grants and contributions provided for capital purposes | (15,634) | (23,056) |
| Statement of Financial Position | ||
| Total current assets | 101,442 | 92,490 |
| Total current liabilities | (45,256) | (30,167) |
| Total non-current assets | 1,295,120 | 1,280,252 |
| Total non-current liabilities | (39,358) | (34,137) |
| Total equity | 1,311,948 | 1,308,438 |
| Other financial information | ||
| Unrestricted current ratio (times) | 2.03 | 2.98 |
| Operating performance ratio (%) | (5.94)% | (11.75)% |
| Debt service cover ratio (times) | 11.82 | 5.65 |
| Rates and annual charges outstanding ratio (%) | 7.28% | 6.11% |
| Infrastructure renewals ratio (%) | 329.31% | 181.96% |
| Own source operating revenue ratio (%) | 40.21% | 50.98% |
| Cash expense cover ratio (months) | 12.11 | 10.49 |
