Noosa Council has posted a $1 million turnaround in its financial operating position in the mid-year budget review.
Tabled at the first council meeting of 2024, from an initial operating deficit of more than $760,000 in August last year, the latest financial report 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.
Cr Stewart said Council’s strong financial position allowed the organisation to invest in community infrastructure, improve ageing assets and minimise rate increases.
The financial turnaround is from prudent investment decisions with cash deposits to maximise the return on ratepayers funds along with improved revenue from Noosa Holiday Parks and Waste management.
“It is such an excellent outcome, because like all businesses we continue to face increased labor costs, challenging supply chain disruptions, rising fuel costs and resourcing issues,” Cr Stewart said.
The Mid-Year Budget review identifies that council is delivering $127 million in disaster funded projects, stemming from the February 2022 Noosa 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.
“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.
The Budget review showed excluding Queensland Reconstruction Authority (QRA) funded disaster projects, Council’s capital works program had decreased from $51.3 million down to $46.1 million, due to the reprogramming of multi-year projects to future years.
“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.“
