Prior to being formally referred to Council’s auditors, Leeton Shire Council endorsed the Draft Annual Financial Statements for the 2018/2019 Financial Year at it’s October Ordinary Council Meeting.
Manager Finance Jackie Hawkins stated in her report to Council that the cash and investment levels of Leeton Shire Council continue to remain very strong ($44.9M at 30 June 2019) compared to ($41.9M at 30 June 2018).
“A large amount of the cash and investments are held as either external restrictions ($30.4M or 68% of the total) or internal restrictions ($14.1M or 31.6% of the total). Only $331K or 0.4% of the total cash and investments is held as unrestricted.”
Referring to the relatively small amount of unrestricted cash, Mrs Hawkins cautioned Council that Council’s general fund was relying on revenue from interest earnings and the sale of water to stay in the black, both of which are unpredictable.
“To stay financially Fit for the Future and keep abreast with the asset renewal backlog, Council is going to have to find additional income from a more reliable source in the coming years”.
The 2018/19 Annual Financial Statements and
the Auditor’s Reports will be presented to the public for review and comment at
the Wednesday 27 November meeting.
To download a copy of the 2018-19 Annual Financial Statements please CLICK HERE
23-25 Chelmsford Place
Leeton NSW 2705
Phone: (02) 6953 0911
Fax: (02) 6953 0977
council@leeton.nsw.gov.auRanger: 0417 259 422
Parks: 0428 970 143
Roads: 0407 468 214
Water/Sewerage: 0428 268 679