Cowra Council’s financial position has been described as strong, with a net operating surplus of $5,237,000 for the 2017-2018 financial year.
Independent auditors, Intentus Chartered Accountants representing the Audit Office of NSW presented the annual Financial Statements Review at Council’s monthly meeting last week.
In presenting his report to Councillors, Senior Partner of Intentus, Mr John O’Malley was positive about Council’s financial management over the financial year ending June 30, 2018.
Mr O’Malley advised Councillors that the Council staff had done an excellent job and he was able to issue unqualified audit reports.
“The staff were very well prepared for the audit,” Mr O’Malley said.
Mr O’Malley said Cowra Council was in a better position financially compared to previous years.
“We’re well up,” he said.
In terms of the operating result for the water, sewer and general funds, he said the “story is quite positive”.
“Each of the funds are performing at above positive levels,” he said.
Mr O’Malley said the report showed operating revenue was “back to typical levels”.
“Council is spending less than income,” Mr O’Malley said.
“Its kept expenditure within its income.”
Cowra Council General Manager, Paul Devery, said he was pleased with the results.
“Council has demonstrated during the turmoil in (local government) over recent years, that we are financially sustainable and responsible and have consistently bettered the performance benchmarks set by the Office of Local Government,” Mr Devery said.
Mayor Bill West said that the results showed Council is acting responsibility in managing its finances and will continue its good work in service provision, long-term planning, and financial reliability.
"Council will continue to closely monitor our financial performance over coming years to ensure that our assets and staff continue to provide the services and facilities for our residents into the future," Cr West said.
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