Council has an income drop and less expenses

Central Coast Council earned less income from continuing operations in the 2018/19 financial year compared with the 2017/18 financial year.
Its total income was $637.2M last year compared to $651.2 the year before.
Total expenses were down from the previous year: $575.8 last year to $584.9 the year before.
The net operating result for the year before grants and contributions provided for capital purposes was $5M in the negative.
The audited financial statements and auditor’s reports will be tabled at the November 11 meeting, and were not tabled at the October 28 meeting as published on the council website page https://www.yourvoiceourcoast.com/financial-statements which shows the headline figures quoted here.
Assets are up: $460.5 M last year to $302.1M the year before.
Liabilities are also up: $207.2M last year to $195.1M the year before.
The draft report, which includes the water supply financials, was first mooted to be presented to the October 8 meeting but was postponed for one month.
The financial statements will be available for inspection at council offices and online once the drafts have been presented to Council and people will be able to make submissions to the Council about them.

Source:
Item 3.2
Central Coast Council meeting, Oct 8
Website: Your Voice Our Coast, Oct 30

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