Douglas Shire Council remains in a strong financial position and on track to achieve a budget surplus in the 2019/20 financial year.
Council has just adopted its annual financial statements for the 2016/17 financial year which reveal an operating deficit for the last financial year totalling $1.8 million compared to a budgeted deficit of $1.9 million. Council has a cash position of $29.5 million and the Douglas Shire is one of the few local councils with zero debt owed to Queensland Treasury Corporation.
Total asset value increased by $23 million in the 2016/17 financial year and liabilities reduced by $3.3 million.
Mayor Julia Leu said the impressive financial results were a testament to the efforts of Council to focus on achieving value for money for ratepayers while improving services and delivering new capital works.
“Council has delivered record investment in capital works, we’re punching well above our weight in securing grants from the Federal and State Governments and we remain innovative in how we provide services to maximise results for our communities,” Mayor Leu said.
“When the new Douglas Shire Council was first established in 2014, we outlined a blueprint to achieve financial sustainability within five years and I’m very proud of the fact we’ve remained focused on this outcome regardless of what hurdles we’ve had to overcome such as cyclones and major flooding that have caused millions of dollars in damage to our infrastructure.
“I cannot speak highly enough of our staff, from our CEO and financial team, to our Frontline staff and outdoor crews, for their diligent efforts to do the best for their communities in everything they do.
“The communities of Douglas Shire can be very proud of the people working on their behalf every day and I’m personally extremely proud to lead these people as we strive to create a more prosperous future for local residents and businesses.
“Our job is not done yet, however we maintain our commitment to continual improvement and finding better and more resourceful ways of doing things, from delivering our community projects to building and fixing our roads and disposing of our rubbish.
“As the only place in the world home to two World Heritage-listed natural wonders, looking after our environment is at the forefront of our actions as we strive to leave the Douglas Shire in better shape than we found it financially, environmentally and socially.”
The full report on the 2016/17 financial statements is available on Council’s website https://douglas.qld.gov.au/download/council_meetings/meeting_agendas/10-October-2017-Special-Council-Meeting-Agenda.pdf.
Media contact: Kerrie Hawkes – CEO Unit Executive Officer – 07-4099 9411