Council's financial statements 2019-2020

Each year, individual Local Governments across NSW are required to present a set of audited financial statements to their council and community.

You are invited to have your say on Tweed Shire Council's financial statements for 2019-2020.

What you will find in the Statements

The financial statements set out the financial performance, financial position and cash flows of Council for the financial year ended 30 June 2020.

The format of the financial statements is standard across all NSW Councils and complies with accounting and reporting requirements of Australian Accounting Standards and requirements as set down by the Office of Local Government.

About the Primary Financial Statements

The financial statements incorporate five "primary" financial statements:

1. The Income Statement

Summarises Council's financial performance for the year, listing all income and expenses. This statement also displays Council's original adopted budget to provide a comparison between what was projected and what actually occurred.

2. The Statement of Comprehensive Income

Primarily records changes in the fair value of Council's Infrastructure, property, plant and equipment.

3. The Statement of Financial Position

A 30 June snapshot of Council's financial position indicating its assets, liabilities and “net wealth”.

4. The Statement of Changes in Equity

The overall change for the year (in dollars) of Council's "net wealth".

5. The Statement of Cash Flows

Indicates where Council's cash came from and where it was spent. This statement also displays Council's original adopted budget to provide a comparison between what was projected and what actually occurred.

The Notes to the Financial Statements provide greater detail and additional information on the five primary financial statements.

How to make a submission:

It should be noted that in accordance with Council policy and the provisions of the Government Information (Public Access) Act 2009 – ‘GIPAA,’ confidential information contained within submissions may be released upon a request being made by a third party.