Redland City Council has adopted its 2011-12 annual report, which is now available on Council’s website for viewing.
The annual report details the performance and financial activities of a diverse range of activities undertaken by Council during the 2011-12.
Redland City Mayor Karen Williams said the 2011-12 financial year had been one of productivity and change for Council.
“Our financial position is strong and we have $85m in cash balances including $43m in reserves,” Cr Williams said.
“Throughout the financial year, savings were made to halve the projected deficit to $10m from the $20m previously forecast. This excluded hand over of caravan parks at North Stradbroke Island.
“Looking ahead Council aims to move from a deficit to a surplus in 2013-14.”
Total recurrent revenue for Council was $159m, while total recurrent expenses amounted to $169m excluding hand over of caravan parks’ operations and assets at North Stradbroke Island.
The value of total assets remained stable at $1.86b in 2011-12 compared to $1.85b in 2010-11 and in the coming year Council will undertake a revaluation of its water and wastewater assets following the return of Redland Water on 1 July 2012.
The return of Redland Water has improved financial forecasts for 2012-13.
Council celebrated a number of achievements in 2011-12, including:
- abolishing gate fees at waste transfer stations
- securing land at Toondah Harbour for future development to maximise tourism and economic development opportunities
- planning and consultation on the Redlands housing strategy
- significant improvement in Redlands waterways’ health
Council has also continued to advocate for a number of key projects to realise the vision of a progressive city, including the redevelopment of Toondah Harbour, planning for neighbourhood parkland and streamlining of housing applications.
This year, Council has adopted a digital distribution of the annual report to achieve a saving of almost $4,000 on printing expenses.
Residents can request a printed copy of the annual report by contacting Council on 3829 8999. To view the 2011-12 annual report, visit www.redland.qld.gov.au.