Pittwater Council Annual Report - Pittwater Council - NSW ...

Financial InformationStatement of Financial Performance (Income Statement)Statement of Financial Position (Balance Sheet)Original Budget2009$’000For the year ended 30 June 2009Actual 2009$’000Actual 2008$’000ASSETSAs at 30 June 2009Actual 2009$’000Actual 2008$’000Income from continuing operationsCurrent assets38,077 Rates and annual charges 38,051 36,22011,020 User charges and fees 10,798 11,5731,045 Interest and investment revenue 689 7372,728 Other revenues 2,794 3,3654,046 Grants and contributions provided for operating purposes 4,775 3,91711,064 Grants and contributions provided for capital purposes (ii) 2,915 14,120Other Income- Net gain from the disposal of assets 170 413305 Share of interests in joint ventures and associates using the equity method - -68,285 Total Income from continuing operations 60,192 70,345Expenses from continuing operations22,808 Employee benefits and on-costs 22,489 21,096666 Borrowing costs 229 24344 Interest and investment losses - -12,304 Materials and contracts 13,981 14,3827,435 Depreciation 7,390 7,10913,535 Other expenses 12,988 12,169- Share of interests in joint ventures and associates using the equity method 138 4456,792 Total Expenses from continuing operations 57,215 55,04311,493 Net operating result for the year 2,977 15,30211,493 Net operating result attributable to Council 2,977 15,302- Net operating result attributable to Minority interests - -Cash and cash equivalents 8,778 5,927Investments 11,810 14,746Receivables 2,884 3,956Inventories 67 83Other 4,490 854Non-current assets classified as held for sale 3,419 3,561Total current assets 31,448 29,127Non-current assetsInvestments - -Receivables 709 609Inventories - -Infrastructure, property, plant and equipment 1,981,797 1,973,988Investment property 1,600 1,750Investments accounted for using equity method 4,024 3,759Total non-current assets 1,988,130 1,980,106TOTAL ASSETS 2,019,578 2,009,233LIABILITIESCurrent liabilitiesPayables 3,986 3,519Interest bearing liabilities 2,207 760Provisions 5,902 5,216Total current liabilities 12,095 9,495Non-current liabilitiesPayables - -Interest bearing liabilities 7,420 2,652Provisions 155 155Total non-current liabilities 7,575 2,807TOTAL LIABILITIES 19,670 12,302429 Net operating result for the year before grants and contributionsprovided for capital purposes62 1,182NET ASSETS 1,999,908 1,996,931EQUITYRetained earnings 1,954,200 1,951,223Revaluation reserves 45,708 45,708TOTAL EQUITY 1,999,908 1,996,931104