The mayor of Noosa has lauded her council’s financial turnaround, after it went from an operating deficit of more than $700,000 to a forecast surplus in the space of four months.
Noosa Council’s mid-year budget review, tabled at last week’s first meeting of 2024, shows a $1 million turnaround in its financial operating position.
Its operating deficit in August last year was more than $700,000 but the latest financial forecast shows a $304,000 surplus.
“This achievement is on the back of a very challenging economic, resourcing and inflationary climate, so it’s a testament to the incredible work of all council staff and councillors that we have recorded such a significant surplus,” mayor Clare Stewart said.
A council media release said the financial turnaround was from prudent investment decisions with cash deposits to maximise yields and improved revenue from Noosa Holiday Parks and waste management facilities.
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Cr Stewart said council’s strong financial position allowed the organisation to invest in community infrastructure, improve ageing assets and minimise rate increases.
“It is such an excellent outcome because like all businesses we continue to face increased labour costs, challenging supply chain disruptions, rising fuel costs and resourcing issues,” she said.
“It’s a tangible example of how we are focused on delivering the best outcome for our community.”
The mid-year budget review showed council was delivering $127 million in disaster-funded projects, stemming from the February 2022 floods.
“Fully funded by the Queensland Reconstruction Authority, much of this work, including rebuilding the Black Mountain landslip, are already underway and it’s a massive undertaking by a council of our size,” Cr Stewart said.
“The disaster recovery work, coupled with council’s annual capital works program, means we are about to deliver a record $173 million in infrastructure work for our community.”
Cr Stewart said council, in partnership with state and federal government funding, had also delivered four new bridges in the hinterland during this term.
“The figures show ratepayers that we continue to deliver high-quality, improved infrastructure and essential community services in a financially responsible way,” Cr Stewart said.
“We continue to meet our sustainability financial ratios and adopt a prudent approach, so these figures highlight the robust financial health of Noosa Council.”
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