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.
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.