Council’s surplus increases by almost $7m

Published on 27 April 2016

Council’s financial year is expected to end better than anticipated with a $7 million improvement to the projected Operating Surplus as a result of additional disaster funding.

The projected surplus for the 2015/16 financial year has almost doubled from $7.5 million to $14.4 million.

Rockhampton Region Mayor Margaret Strelow said Council is very grateful to the higher levels of Government for the funding from disaster grants that have helped make Council’s improved surplus a reality.

“The grants we have received since Cyclone Marcia for the Riverbank Redevelopment and the restoration of Kershaw Gardens, as well as other Cyclone related projects, really helped our financial outlook,” Mayor Strelow said

“We’re hearing all levels of government are doing it tough and we are no different, however, this additional funding has helped limit the impact of the disaster on Councils bank balance.

“It allows us to put back some of the funds that were used for undertaking the clean-up works immediately after the disaster.”

The Summary Budget Management Report for the period ended 31 March 2016 was received at yesterday’s ordinary Council meeting.