About our finances

Here we outline key information about our financial performance for the year. You will find out about our income and spending during 2019-20.

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Our income

Our total income for the year was $221.293 million. 

There was an increase in income of $3.842 million (or 1.8%) compared to 2018-19. This was largely due to growth in the income we got from rates.

Our major source of income is rates and charges. This includes: 

  • general rates  
  • waste management charge 
  • special rates and charges
  • supplementary rates  
  • rate adjustments 
  • interest on rates 

Last year this generated $159.319 million or 72.0% of our total income. 

Other major sources of income included: 

  • government grants of $22.850 million (or 10.4% of total income) 
  • user feesstatutory fees and fines of $19.380 million (or 8.8% of total income). 

$221.3M

Income in 2019-20

minus

$190.2M

Operating expenses in 2019–20

minus

$31.1M

Surplus for 2019–20

Operating expenditure profile for 2019-20

Capital expenses

Our total completed capital expenditure for the year was $44.486 million. We spent another $14.719 million on works in progress. 

Capital expenditure is when we spend money to renew, improve or build new assets. This is things like roads, buildings or infrastructure. They help us achieve our strategic objectives and support the delivery of services. 

Our total spending on completed capital works was $18.571 million above the depreciation for the year. 

 

Top 5 major capital works by category 2018-19

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Asset class Amount
Land $12.597m
Roads $8.923m
Buildings $6.122m
Footpaths and cycleways $4.471m
Other infrastructure $4.280m
Drainage $3.831m
Plant, machinery and equipment $2.509m
Library collection $0.992m
Fixtures, fittings and furniture $0.447m
Computers and telecommunications $0.268m
Bridges $0.046m

COVID-19 and our finances

There were extra costs because of the COVID-19 pandemic and we lost income as well.

We had: 

  • increased costs of $1 million due to the closure of leisure centres 
  • a $900,000 decrease in income due to the deferral of rates revenue and introduction of an interest free period 
  • a $900,000 decrease in infringement income 
  • a $100,000 decrease in venue hire income 
  • a $100,000 decrease in revenue due to a waiver on sporting fees 
  • a $100,000 decrease in parking income.

The impact of stage 4 restrictions, which applied from 2 August 2020, occurred after the end of the 2019-20 financial year. 

You can read more about the impact of COVID-19 on our services. 

 

More detail

If you want to read more about our finances, you can download our detailed Financial Report. We prepared this report under relevant accounting standards and legislative requirements. 

These statements are detailed and can be hard to understand. There is a simple summary at the start of the Financial Report that explains the terms used. It also talks about the different types of statements in the report and what they mean.  

Download our full financial report.

If you have questions about the report, you can ask us. We can help explain it to you. Just contact us

 

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