Leanne Smith from Intentus Chartered Accountants presented council's audited financial statements to the monthly meeting on Tuesday night.

The books showed that as at June 30, 2019, Oberon Council's total income from continuous operations was $21,733,000 and total expenses from continuing operations was $17,062,000.

The net operating result for the year was $4,671,000.

Ms Smith also reported that council's current and non-current assets totalled $302,439,000 with cash of $2,124,000; investments worth $14,800,000; receivables of $2,859,000; and inventories of $947,000.

Council's liabilities totalled $6,454,000..

Ms Smith said council's debt service ratio, due to unpaid rates, was 10.19 per cent - above the preferred benchmark of 10 per cent.

"I attribute this to staff changes in the finance department over the past 12 months," Ms Smith said.

"Now council has handed over their debt recovery to Customer Commercial Services these figures will change this financial year."

In a report to Tuesday's meeting, corporate services director Lynette Safranek said council had moved its debt recovery service to Customer Commercial Services (CCS) on July 1, 2019 and she was pleased with the progress.

"CCS has reduced our current files to 162, closed 52 files with payments totally approximately $95,896 following the issue of 82 demand letters," the report to councillors stated.

"Our current arrears as at October 31, 2019 sits at $333,015. There has been no legal action entered into."

Ms Smith said this year the audit office will be focusing on gifts and benefits, fraud, credit cards, cyber security, accounting standards, computer controls and tools on websites.

Ms Smith said council's draft audited figures were submitted on time and all reporting and disclosure obligations are satisfactory.

At the meeting a recommendation was carried to notify the Office of Local Government that the annual report is on council's website and a copy to be provided to the minister.