Financial Statements

Statement of Comprehensive Financial Performance

For the year ended 30 June 2014

    Council Group1
  Note Actual
2014
$000
Budget
2014
$000
Actual
2013
$000
Actual
2014
$000
Actual
2013
$000
INCOME            
Revenue from rates            
Revenue from rates (excluding metered water) 1 234,007 233,551 226,022 234,007 226,022
Revenue from water rates by meter 1 12,329 13,333 11,366 12,329 11,366
Operating Activities            
Revenue from development contributions 2 5,873 5,000 4,356 5,873 4,356
Revenue from grants, subsidies and reimbursements 2 43,315 49,746 46,795 49,597 51,076
Revenue from other operating activities 2 115,213 101,936 111,056 125,440 122,608
Revenue from investments 3 23,253 19,118 23,590 11,287 12,668
Total Revenue   433,990 422,684 423,185 438,533 428,096
Fair value movement on investment property revaluation 17 - - 5,385   5,385
Other income 4 14,949 1,120 14,706 14,959 14,719
Finance income 5 2,752 560 3,139 3,085 3,497
TOTAL INCOME   451,691 424,364 446,415 456,577 451,697
EXPENSE            
Finance expense 5 (22,754) (21,965) (23,150) (22,756) (23,152)
Expenditure on operating activities 6 (297,951) (274,623) (303,930) (314,745) (318,740)
Depreciation and amortisation 7 (95,860) (92,109) (91,148) (96,611) (91,977)
Fair value movement on investment property revaluation 17 (7,661) - - (7,661) -
TOTAL EXPENSE   (424,226) (388,697) (418,228) (441,773) (433,869)
TOTAL OPERATING SURPLUS   27,465 35,667 28,187 14,804 17,828
Share of equity accounted surplus/(deficit) from associates 41 - - - 16,120 12,705
NET SURPLUS BEFORE TAXATION   27,465 35,667 28,187 30,924 30,533
Income tax credit /(expense) 8 - - - 64 (91)
NET SURPLUS for the year   27,465 35,667 28,187 30,988 30,442
OTHER COMPREHENSIVE INCOME            
Items that will not be reclassified to surplus/(deficit)            
Revaluations:            
Fair value movement - property, plant and equipment - net 25 (45,290) 176,121 - (47,163) -
Share of other comprehensive income of associates:            
Effect of changed shareholding in associates 25 - - - 38 -
Items that will be reclassified to surplus/(deficit)            
Cash flow hedges:            
Fair value movement - net 26 9,552 - 14,104 9,552 14,104
Reclassification to finance income 26 - - (163) - (163)
Fair value through other comprehensive income:            
Fair value movement - financial assets - net 27 (30) - (61) (30) (61)
Share of other comprehensive income of associates:            
Reclassification to share of equity accounted surplus 26 - - - 1 153
TOTAL OTHER COMPREHENSIVE INCOME/(EXPENSE)2   (35,768) 176,121 13,880 (37,602) 14,033
TOTAL COMPREHENSIVE INCOME/(EXPENSE) for the year2   (8,303) 211,788 42,067 (6,614) 44,475
  1. The Group includes the Council, the subsidiaries disclosed in Note 40, and the Council’s interest in the associates disclosed in Note 41. A structural diagram of the Group is shown in Note 38.
  2. ​Other comprehensive income / (expense) is non-cash in nature and only reflects changes in equity.


The notes on pages 116 to 198 form part of and should be read in conjunction with these financial statements.