About our finances
Here we have key information about our financial performance.
You will find out about our income and spending during 2021-22.
Our income
Our total income for the year was $248.4 million.
There was an increase in income of $10 million (or 4.2%) compared to 2020-21. This was largely due to the growth in rates income.
Our major source of income is rates and charges, which generated 69.5% of our total income ($172.7 million). This includes:
- general rates
- waste management charge
- special rates and charges
- supplementary rates
- rate adjustments
- interest on rates.
Other major sources of income included:
- government grants of $33.6 million (or 13.5% of total income)
- user fees and statutory fees and fines of $21.3 million (or 8.6% of total income).
Our expenses
Our total operating expenses for the year were $200.4 million.
The majority of this was employee costs. This was $97.2 million or 48.5% of total expenses. The next biggest cost was material and services of $68.3 million (34.1% of total expenses).
$248M
Income in 2021-22
$200M
Operating expenses in 2021–22
$48M
Surplus for 2021–22
Operating expenditure profile for 2021-22
A surplus for the year
We are reporting an accounting surplus of $48.0 million for the financial year.
This accounting surplus is not spare money that builds up in the bank. They include our capital works program and loan repayments.
Other funds are directed to reserves. Reserves are already committed to future capital works expenditure or other important items that are one-off.
Our Comprehensive income statement (PDF 69Kb) has more detail about our income and expenses.
We also have a Balance sheet (PDF 77Kb) that gives details of our assets, liabilities and reserves.
Capital expenses
Our total completed capital expenditure for the year was $56.7 million. We continued to address our capital works program across a wide range of projects.
Capital expenditure is when we spend money to renew, improve or build new assets. This is for things like roads, buildings or infrastructure. They help us achieve our strategic objectives and support the delivery of services.
Our total completed capital work spend was $28.3 million above the depreciation for the year.
Top 5 capital works by category delivered in 2021-22
The graph above shows the top 5 categories of capital works we delivered in 2021-22. Below you can find the full list of capital works.
| Asset class | Amount |
|---|---|
| Buildings | $28.5m |
| Plant, machinery and equipment | $6.5m |
| Roads | $4.9m |
| Other infrastructure | $4.7m |
| Footpaths and cycleways | $4.2m |
| Drainage | $2.5m |
| Land | $2.0m |
| Computers and telecommunications | $1.1m |
| Library collection | $1.0m |
| Fixtures, fittings and furniture | $0.9m |
| Bridges | $0.3m |
COVID-19
There were several financial impacts to Council in the year to 30 June 2022 due to the COVID-19 pandemic. At the time of drafting the adopted budget, Council allowed $300,000 for COVID-19-related costs.
When restrictions were reimposed from July to October 2021, there were further financial impacts not budgeted for. These included:
- infringement loss of $2.2 million
- increased costs of $1.7 million due to the closure and restrictions on our leisure centres
- security costs for our outdoor pools and libraries of $494,000
- waiver of 6 months of health registration fees for food businesses of $302,000
- additional cleaning costs of $161,000
- venue hire income loss of $100,000
- parking income loss of $90,000
- COVID-19-related communications of $132,000
- rent relief for our tenants of $94,000.
You can read more about the impact of COVID-19 on our services during the year in the COVID-19 section of this report.
More detail
If you want to read more about our finances, you can download our Full Financial Report (PDF 1Mb). 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.
If you have questions about the report, you can ask us. We can help explain it to you. You can contact us using the details on our Contact us page.