Presentation of draft financial statements at October Council Meeting

Published on 13 October 2022

Snowy Monaro Regional Council will present draft unaudited financial statements at the October Ordinary Council Meeting in Cooma on Thursday 20 October 2022.

Ahead of the meeting, Council is releasing these provisional figures for the information of the public, as a part of our commitment to transparency.

Council originally budgeted for a deficit of $4.265M for the 2021/22 financial year. The draft net operating result for the year (before grants and contributions provided for capital purposes) is a deficit of $3.465M.

This is an improvement of $800,000 on the original projection for 2021/22.

The unrestricted cash position has also improved from a nil balance in 2020/21 to record a draft result of $4.433M.

While these are draft figures under audit and are subject to change, this result shows that Council’s plan for a more financially sustainable future is working. Real progress has been made this financial year and we intend to build on these successes into the future.

Like many other Councils across New South Wales, Snowy Monaro Regional Council resolved not to account for Rural Fire Service ‘Red Fleet’ assets as Council property. Our position on this matter means that we will receive a ‘qualified audit’ from the Audit Office of NSW.