Redland City Council has once again shown its strong financial performance, confirming a $14 million operating surplus for the 2013-14 financial year.
The surplus was revealed in Council’s Annual Report adopted by Council today, and signed off by the Queensland Audit Office.
“This is the first surplus achieved for 15 years and shows the financial future of the city is secure,” Mayor Karen Williams said.
“This achievement is the result of an incredible amount of hard work by Council to find new ways to deliver the best value for money to our community,” she said.
“To record our first operating surplus in more than 10 years shows just how committed this Council is to not live beyond our means and not force residents to make up the difference through big rates increases.”
Cr Williams said the surplus was achieved by identifying significant future savings in the maintenance and management of landfill sites.
“This took our financial position from a predicted operating deficit to a strong operating surplus,” she said.
“The surplus comes in addition to us passing on to residents some of the lowest headline rates increases in South East Queensland for three consecutive years.
“In fact our headline rates have increased by less than a total of seven per cent over the past three years, while neighbouring Councils have delivered rates hikes more than double this.
“The Annual Report also shows Council continues to reduce debt and build our cash balances.
“Together these measures are ensuring the city has a bright and secure future at the same time as we are reducing ongoing cost pressures for ratepayers.”
Council’s financial services spokesperson Cr Mark Edwards said Council continued to look for operational efficiencies.
“While achieving this surplus is fantastic news and needs to be recognised, we cannot relax. We must continue to look for ways to improve the value for money for our residents,” he said.
“The current budget predicts an operating deficit of approximately $11 million due to a number of one offs and we are determined to identify further efficiencies to reduce this.”