Note 2. Operating result attributable to functions/activities
Revenues from ordinary activities:
Note 3. Revenues from ordinary activities
Expenses from ordinary activities:
Note 4. Expenses from ordinary activities
Note 5. Trade and other receivables
Note 6. Inventories
Note 7. Other financial assets
Note 8. Other current assets
Note 9. Property, plant, equipment and infrastructure
Note 10. Intangible assets
Note 11. Investment property
Note 12. Trade and other payables
Note 13. Employee benefits
Note 14. Provisions
Note 15. Reserves
Note 16. Gain/(loss) on sale of fixed assets
Note 17. Investments accounted for using the equity method
Note 18. Cash flow information
Note 19. Commitments
Note 20. Contingent liabilities and contingent assets
Note 20(a). Events subsequent to balance date
Note 21. Superannuation
Note 22. Related party transactions
Note 23. Financial Instruments
Note 24. Financial ratios
Statement by Councillors, Chief Executive Officer and Principal Accounting Officer
Auditor-General’s Report on the Financial Report
City of Melbourne Our Financials
Prepared in accordance with the Local Government Act (1989), Local Government Regulations (2001), and applicable Australian Accounting Standards.
Understanding Our Financials
For the year ended 30 June 2006
What do financial statements show?
Our financial statements provide an insight into the City of Melbourne’s financial health. Our financial statements show:
how the City of Melbourne and its subsidiaries performed during the year;
the value of assets held by the City of Melbourne; and
the ability of the City of Melbourne to pay its debts.
How are the financial statements audited?
These financial statements are prepared in accordance with the Local Government Act (1989) and the Australian Accounting Standards. They are audited by the Victorian Auditor-General, approved in principle by the City of Melbourne’s Audit Committee and by Melbourne City Council. These auditing measures ensure the information provided is correct.
The City of Melbourne has received a clear audit of its financial statements for 2005-06.
What’s in the financial statements?
The financial statements consist of four financial reports, explanatory notes supporting the reports and endorsement from the Melbourne City Council and the Victorian Auditor-General. The four financial reports are:
Statement of cash flows; and
Statement of changes in equity.
The explanatory notes detail the City of Melbourne’s accounting policies and the make-up of values contained in the statements.