2016-17
SNAPSHOT
$
$ $
Net operating surplus for
the third year running
No new loans
Community Financial Report 2016-2017
The purpose of the Community Financial Report is
to give community members a plain English, easy to
follow summary of Council’s Financial Statements in
accordance with Section 179 of Local Government
Regulation 2012.
Council’s Financial Statements must be certified by
both the Mayor and the Chief Executive Officer as
“presenting fairly” the Council’s financial results for the
year. They are also required to be adopted by Council
– ensuring both responsibility for and ownership of
the Financial Statements by management and elected
representatives.
In addition, Council’s financial statements are audited
by the Queensland Audit Office. The auditor provides
an audit report which gives an opinion on whether the
financial statements present fairly Council’s financial
performance and position.
This report focuses on:
• Statement of Comprehensive Income
• Statement of Financial Position
• Statement of Changes in Equity
• Statement of Cash Flows
Statement of Comprehensive Income
The Statement of Comprehensive Income is often
referred to as the Profit and Loss statement. This
statement shows what Council has earned (revenue)
and what costs Council has incurred (expenses)
throughout the year.
In summary, Council’s result for the reporting period
was:
$’000’s
What we have earned (Revenue)
Recurrent Revenue
Capital Revenue
Total Revenue
305,915
70,208
376,123
What we have spent (Expenses)
Recurrent Expenses 298,715
Capital Expenses 50,096
Total Expenses
348,811
Net Result
27,312
• Measures of Financial Sustainability
Annual Report 2016 - 2017 I TOOWOOMBA REGIONAL COUNCIL
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