But the Quirk administration has insisted the council is on a sound financial footing based on more applicable benchmarks.

The audited figures showed the council would miss two of three Queensland Audit Office benchmarks (asset sustainability ratio and net financial liabilities ratio) every year until 2025.

The operating surplus ratio, which had a target of between 0 and 10 per cent, was met in 2016, but would drop to below 0 per cent between 2017 and 2021.

Opposition leader Peter Cumming said the assessment of the council's financial position should "ring alarm bells" for the city's ratepayers.

"The long-term financial sustainability statement clearly shows that council is failing to meet its own targets regarding how much debt they can accumulate and is in fact going far beyond what is recommended," he said.

"On their own three measures of sustainability, they haven't met any of their targets by a long way.

"…What it all means is that council is borrowing too much money, living beyond its means and spending like drunken sailors.

"We cannot, as a city, even contemplate something like $10 to 20 billion on the Olympics when these financial statements clearly show that Brisbane City Council is spending way more than we can afford for the foreseeable future."

But finance chairman Krista Adams said the Queensland Treasury Corporation assessments showed the council had a strong credit rating.

The QTC was also the council's lender and, Cr Adams said, it was the assessment that mattered.

"These three ratios are applied to every council in Queensland according to the Queensland Audit Office's guidelines, however, do not accurately reflect council's financial position," Cr Adams said.

"These ratios fail to take into account infrastructure charges which is a consistent revenue stream for council, unlike many other Queensland local governments.

"Conversely, the Queensland Treasury Corporation does consider this revenue, which is why it has assessed Council's financial position as strong.

"This administration is also investing more into asset maintenance and replacement than any previous administration.

"This includes $1.3 billion of road projects in the pipeline for the coming four financial years, with much more to be invested into other transport and community infrastructure."

The target for the consolidated surplus ratio, which was the net result divided by total operating revenue, was between 0 per cent and 10 per cent.

The long-term statement showed the figure in 2016 was 0 per cent, -2 per cent in 2017, -3 per cent in 2018, -2 per cent in 2019, -2 per cent in 2020, -1 per cent in 2021, 0 per cent in 2022, 1 per cent in 2023, 2 per cent in 2024 and 3 per cent in 2025.

The target for the consolidated asset sustainability ratio – the capital expenditure on the replacement of assets divided by depreciation expense – was greater than 90 per cent.

The long-term figures were 67 per cent (2016), 70 per cent (2017), 67 per cent (2018), 65 per cent (2019), 61 per cent (2020), 69 per cent (2021 and 2022), 68 per cent (2023), 71 per cent (2024) and 70 per cent (2025).

The target for the net financial liabilities ratio – the total liabilities less current assets divided by total operating revenue – was to be no greater than 60 per cent.

The long-term outlooks were 75 per cent (2016), 103 per cent (2017), 123 per cent (2018), 128 per cent (2019), 120 per cent (2020, 2021 and 2022), 119 per cent (2023), 115 per cent (2024) and 111 per cent (2025).

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