Port Macquarie-Hastings Council has released its annual financial year results for 2016/2017.
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The document shows a positive result, continuing the strong financial performance of previous years.
Council’s financial performance is measured by the NSW government against a range of measures including the key operating performance ratio which indicates whether revenue received by the council is covering expenses.
Council’s general manager Craig Swift-McNair said it was pleasing to report that council had exceeded the operating performance benchmark in 2016/2017 for the third consecutive year and had demonstrated a significantly improved financial position.
“A lot of hard work has been undertaken that has contributed to the strong result, and the long-term goal to continually review the services, delivery methods and asset management practices has played a significant role in this result and will continue to be a renewed focus for council in future years.”
There were numerous financial highlights for the 2016/2017 year including total income from continuing operations of $247.57 million, with expenses of $148.999 million.
Income from capital grants and contributions, to renew existing assets and construct new assets was $21.728 million higher than the previous year.
More than $66.1 million in capital works was delivered during the financial year, and council has received $42.2 million in infrastructure that has been built by developers, and is now under the control of council for future maintenance.
Council has also received $27.83 million in developer contributions for future new infrastructure, which is indicative of the buoyant property market and the continued growth and development occurring across the local government area.
“2016/2017 was a year where council continued to deliver improved outcomes for our community, with the focus remaining on securing our future as a leading NSW council area,” Mr Swift-McNair said.
“Our strong financial position ensures we can continue to meet community expectations in delivering a broad range of services, maintain our $1.8 billion of fixed assets, and develop our region as a place where people want to live, learn, work, play and invest.”
The annual financial statements are part of council’s 2016/2017 annual report.
The annual report is the key reporting document for the council to keep the community informed about its achievements.
Cr Rob Turner said the annual report highlighted what an amazing job the council had done over the past 12 months and the diversity of the infrastructure and services it had delivered.
“I’d like to commend council for the work it has done and it’s a great endorsement of the work we have undertaken as a group,” he said.
“It’s a fantastic achievement and it shows we are on the right track.”
The annual report contains a community report card, statutory detail and financial statements.
Go to pmhc.nsw.gov.au/annualreport to view the documents.
Copies of the report are also available at council offices and libraries.