Redland City Council’s back to basics strategy is set to deliver operating surpluses each year from 2015-2025 and reduce debt, according to its revised Financial Strategy released today.

Redland City Mayor Karen Williams said the Financial Strategy was evidence that Council’s back to basics approach had paid off, placing the organisation in a strong financial position.

“Redland City Council’s Financial Strategy 2015-25 demonstrates Council’s sustainability,” Cr Williams said.

“Significantly, it forecasts operating surpluses for the life of the strategy, which is good news for our community.
 
“The strategy also forecasts that Council’s debt will decrease over the same period.

“There are several contributing factors to the results including commercial opportunities to raise revenue, reaping the benefits of well managed landfill that will reduce costs into the future, and efficiencies across Council.”

Council’s Financial spokesperson Cr Mark Edwards said the strategy showed that Council was meeting or exceeding nearly all its key financial performance indicators and would set a clear plan to ensure Council’s continued success.

“This strategy draws on Council’s key financial policies including debt, investment, revenue, assets, procurement capital works and constrained cash reserves,” Cr Edwards said.

“As with prudent financial management, this document is reviewed annually to ensure it reflects the economic environment and gives an accurate assessment of Council’s long-term financial forecast.

“Other key highlights of the reviewed policy include an upcoming review of our Portfolio Management Office and the introduction of lean business methodology to provide further efficiencies in the way we do business.”