June 27, 2019 - Cassowary Coast in strong financial position
Cassowary Coast Regional Council Mayor Cr John Kremastos said the $120.6 million balanced 2019/20 Budget he presented today was a reflection of the strong financial position which had been built over the past three years.
Cr Kremastos said he was proud that this year Council had achieved all three of the critical sustainability ratios for local government, as set down by the Queensland Audit Office.
The ratios are a measure of the financial sustainability of Council.
“This budget meets the requirements through a modest surplus of $11,000, combining with acceptable asset and liability levels and projected revenues that allow for ongoing renewal of existing assets,” Cr Kremastos said.
“Our strengthening economic position as a region has been achieved after four consecutive years of low-rate increases where Council has kept the average general rate increase below the Consumer Price Index (CPI).
“This Council’s focus has been upon responsible financial management, stimulating the regional economy and maintaining and expanding services through building upon our financial sustainability.”
The 2019/20 $120.6 million budget features zero debt, zero borrowings, $38.76 million expenditure on Capital Works and operational expenditure of $81.9 million.