Overview - Parramatta City Council - NSW Government

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How We Manage our Finances 30 How we Manage our Finances FINANCIAL SNAPSHOT Rates and Annual Charges Revenue Other Operating Revenue Capital Revenue TOTAL REVENUE Operating Expenses Borrowing Costs TOTAL EXPENSES NET OPERATION RESULT Capital Expenditure Financial Position at the end of the year Total Assets Total Liabilities Total Equity Unrestricted Investments 01/02 $'000 64,213 30,894 10,106 105,213 94,582 1,574 96,156 9,057 22,022 893,550 56,570 836,980 8,359 02/03 $'000 66,667 32,308 11,044 110,019 100,334 1,818 102,152 7,867 35,065 944,427 99,580 844,847 8,052 03/04 $'000 69,732 38,413 7,793 115,938 105,348 3,858 109,206 6,732 55,595 977,934 126,355 851,579 12,584 04/05 $'000 74,576 42,844 7,854 125,274 112,870 5,472 118,342 6,932 47,056 981,252 125,949 855,303 13,619 05/06 $'000 78,565 40,785 7,891 127,241 116,977 5,477 122,454 4,787 28,251 987,016 126,926 860,090 13,319 About these Results Operating Revenue and Operating Expenses Council's revenues and expenses have increased predominantly as a result of inflation and the growing needs of Sydney's second CBD which is currently undergoing revitalisation. Community expectations are also rising, as is the need to find revenue sources to fund the demand for increased and improved service delivery to our business, governmental, not-for-profit and community sectors. Borrowing Costs Our borrowing costs have increased to fund Parramatta’s Civic Place Redevelopment project. These borrowings have been used to purchase properties destined to be demolished to make way for the three hectare redevelopment. The borrowing costs to service these loans are offset by the rental income from these properties and the interest earned on the unexpended component of these loans. It is anticipated that these loans will be repaid once the Civic Place Redevelopment begins. Council still maintains its debt service levels at 7.55 per cent, well below the industry benchmark of 10 per cent. Capital Expenditure Capital expenditure has fluctuated in recent years. Abnormal increases in 2003/04 and 2004/05 were once again the direct result of property purchases for the Civic Place Redevelopment project. Total Assets The community’s assets include new infrastructure such as the Doyle Playing Ground’s water recycling and irrigation plant and long-standing assets such as our historic Granville and Parramatta town halls. The value of our assets has steadily risen. Total Liabilities Our liabilities include things such as loans, amounts payable to suppliers and contractors that are outstanding, as well as amounts owing to employees in the form of leave entitlements. The figures show that the amount we owe has remained relatively steady over the past three years. Total Equity We calculate our equity by subtracting what the community owes from what the community owns to reflect our community’s net worth. Council’s Equity (Retained Earnings) has steadily risen as we increase our core asset base. Unrestricted Investments Increases in our Unrestricted Investments (cash and investments not tied by future commitments) shows that Council's levels of liquidity remain consistently adequate and reflects prudent financial management. Parramatta City Council 2005/06 Annual Report
WHERE THE DOLLARS CAME FROM REVENUES BY TYPE FROM CONTINUING OPERATIONS WHERE THE DOLLARS WENT EXPENSES BY TYPE FROM CONTINUING OPERATIONS Interest & Investment Revenue 4% Grants & Contributions Provided for Operating Purposes 10% Materials & Contracts 18% Depreciation and Amortisation 18% User Charges & Fees 9% Rates & Annual Charges 61% About these graphs (Income) Grants & Contributions Provided for Capital Purposes 6% Other Revenues 10% Rates, charges and contributions are the principal sources that provide Council’s dollars. Grants and contributions provided for capital purposes include contributions from the development sector for the future improvement of community infrastructure such as community facilities, open space and improvements to roads and footpaths. Borrowing Costs 4% Employee Benefits & On-costs 41% About these graphs (Expenditure) Net Loss & Disposal of Assets 1% Other Expenses 18% The dollars we spend predominantly go towards the provision of community services, regulatory activities protection of the environment, including waterways, parks, waste management, and maintenance of infrastructure assets. Services include childcare, home support, car parks, road construction and maintenance, running swimming pools, libraries, the Riverside Theatres, the Parramatta Heritage and Visitor Information Centre and other culture and leisure activities. How We Manage our Finances CAPITAL EXPENDITURE BY ASSET TYPE Plant & Equipment 10% Library Books 2% Stormwater Drainage 13% Community Land 15% Land Improvements 5% Buildings 12% About these graphs (Capital Expenditure) Council’s largest capital outlays continue to be for roads, bridges and footpaths, followed by the purchase of community land. Significant projects relating to stormwater drainage and waterways improvements, purchase of buildings, plant and equipment were also completed. Highlights include refurbishment of the Emma Crescent Library (now Constitution Hill), Parramatta Artist Studios, extensions to the Parramatta Valley Cycleway, domain enhancements, the Harris Park skatepark, as well as sports and playground improvements. Roads, Bridges, Footpaths 36% Other Structures 7% 31 Parramatta City Council 2005/06 Annual Report
Page 1 and 2: Responding to our Community 2005/06
Page 3 and 4: About this Report Welcome to Parram
Page 5 and 6: Finding Your Way Round this Report
Page 7 and 8: Snapshot Performance by Measure by
Page 9 and 10: Proud Past Promising Outlook Home
Page 11 and 12: Where You Can Find Us Parramatta Ci
Page 13 and 14: Natural bushland, native species Sc
Page 15 and 16: Lord Mayor’s Message This City, t
Page 17 and 18: our project management and delivery
Page 19 and 20: In addition, positive feedback was
Page 21 and 22: Councillor John Chedid First electe
Page 23 and 24: Corporate Services Group > Manager
Page 25 and 26: The For Parramatta City Council Str
Page 27 and 28: Highlights for 2005/06 included: >
Page 29 and 30: Working towards a triple bottom lin
Page 31: Staff profile at 30 June 2006 TOTAL
Page 35 and 36: How we Spend Special Rates Determin
Page 37 and 38: City Development Program Purpose Ec
Page 39: Community Care Program Purpose Comm

Overview - Parramatta City Council - NSW Government

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