SDRC delivers third budget surplus with strong financial management
The Southern Downs is set for continued growth with the
latest figures showing Southern Downs Regional Council operated at a surplus
and reduced debt through the first quarter of the 2018-19 Financial Year.
The latest Finance Report continues SDRC’s three-year trend
of delivering budget surpluses and reducing debt, allowing Council to continue
providing services and improve infrastructure across the region.
Councillors resolved to adopt the latest Finance Report for
the current financial year at the November General Council Meeting.
Southern Downs Councillor for Economic Development, Regional
Promotion and Tourism Rod Kelly said Council will continue to achieve wonderful
projects for the community thanks to Council’s improving financial position.
“The current Council inherited a $31M debt, so one of our
first orders of business was to pass a resolution to reduce the debt by at
least $2M per year,” Cr Kelly said.
“In a very short time, this Council has achieved amazing
results and reduced that debt to just under $22M which is nearly a 30 per cent
Southern Downs Deputy Mayor and Councillor for Finance,
Governance and the Arts Jo McNally said that Council had made efforts to make
Council finances more open and transparent to the community.
“This Council provides the community with more detailed
accounts of Council’s financial position than previous Councils so the
community can see how we are tracking,” Cr McNally said.
“The community can see for themselves that Council is
meeting key ratios and significantly reducing debt. We now have substantial
money in the bank account which is a positive result for the community.
“At the start of this Council’s term, we agreed to set strict
budgets at the beginning of each financial year.
“Closely monitoring the budget throughout the year allows
Council to operate at a surplus and adapt to the changing needs of the
community while continuing to be financially responsible.”
For more information or to view the current Finance Report,
please visit the SDRC website at www.sdrc.qld.gov.au.
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