Our financial statements contain information about our financial performance and position.
The statements are made up of the following sections:
Statement of Comprehensive Income - measures how we performed during the year and displays our revenue and expenses.
Statement of Financial Position - shows what we own (assets), what we owe (liabilities) and our net worth (community equity). Total community equity is equal to total assets minus total liabilities. Community equity can be a reflection of how healthy the position of Council is at a given point in time.
Statement of Cash Flows - shows how revenue received and expenses paid impact on Council’s cash balances.
Statement of Changes in Equity - a summary of transfers to and from community equity accounts including retained earnings and asset revaluation surplus.
Notes to the Financial Statements - provide details of important items in the Financial Statements.
Financial Sustainability Statement - sustainability indicators which have been set by the State Government to help monitor the long-term sustainability of Council’s across Queensland.
Certified Financial Statements 2020-2021
Our financial statements have been prepared in accordance with Australian Accounting Standards and comply with the requirements of the Local Government Act 2009 and Local Government Regulation 2012.