FLOODS DAMPEN COUNCIL’S BUDGET EXPECTATIONS

The financial impact on Council generated by the January floods and tornadoes has posed significant challenges to Council’s financial team in presenting updated budget reports.

Bundaberg Regional Council Mayor, Cr. Mal Forman said it is obvious the flood damage will contribute to a significant deficit in Council’s budget at the end of the financial year.

“As at the beginning of April it was estimated Council had spent $15.2 million on flood emergent works which involved essential repairs. It appears Council may only be able to claim $10 million of that under Natural Disaster Recovery and Relief Arrangements (NDRRA).”

“This means Council will be required to fund the remaining $5.2 million of the emergency work from its own resources.”

Cr. Forman said Council is battling to complete its capital works program for the year which is budgeted at $105 million. “As at the end of March we had only completed $42 million of that work. It is obvious there will be a significant carryover of NDRRA funded work into next financial year,” he said.

“Adverse weather has certainly played a role in allowing the amount of work we have been able to undertake and complete,” he said.

One disappointing aspect of the Council budget to date is that no properties from its assets list have been sold. “I am certain that remains a reflection of the continued downturn in the property market,’ said Cr. Forman.

 

Date: 30-04-2013

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