Redland City Council will use its strong balance sheet and borrowing power to invest in the future of the Redlands Coast under the 2019-20 Budget adopted today.
Redland City Mayor Karen Williams said Council’s budget included a small operating surplus and a $58.4 million capital works program targeted at growing and sustaining community infrastructure vital to the Redlands Coast’s future, especially roads and parks.
“By balancing our budget and maintaining a healthy bank balance, we are able to fund vital big-ticket intergenerational projects, such as the Weinam Creek transport hub and IndigiScapes Environmental Centre upgrades,” Cr Williams said.
Cr Williams said Council’s prudent economic management allowed it to move quickly to secure community assets, including strategic land at Birkdale and Cleveland Point.
“Financial sustainability has been a driving factor of budgets during this council term, allowing us to secure the 61ha Birkdale Commonwealth land and the site adjacent the council reserve at Cleveland Point for the community,” Cr Williams said.
“This was something we could only do that because our debt was low and we had money in the bank.”
Cr Williams said the 2019-20 Budget included modest borrowings for key intergenerational projects, helping deliver the important projects that will be enjoyed by generations of Redlanders.
“At the end of the day, responsible financial management has allowed us to borrow sensibly and sustainably to fund long-life projects – the non-negotiable intergenerational assets needed now to service this city into the future,” Cr Williams said.
“The fact that we can do this and still record no net debt shows the sound financial position the city is in and the benefit of continuing to find efficiencies and look for initiatives to insulate our community against external cost pressures.”
Cr Williams said Council had monitored interest rates and was proposing to borrow now while the cost of borrowing was at record low levels.
“Council is mindful of finding the balance between holding cash in the bank when interest rates are low and borrowing when it is the right time so we can deliver the capital projects our community needs,” she said.
Cr Williams said Councillors had worked together to ensure the capital works program was focused, achievable and delivered residents the best value for money.
“Our priority has been squarely with essentials and long-life, intergenerational assets,” Cr Williams said.
“The works program includes more than $21 million for roads projects, including $11 million for our road resurfacing program, helping residents get around the city safer and faster.
“Almost $9.5 million will go towards the naturally wonderful playgrounds, parks and sports fields, our community loves, including $2 million for Stage 2A of Thornlands Community Park.
“Our environmental education centre at IndigiScapes will also receive a boost through a $2.2 million upgrade, adding to its reputation as a regionally significant environmental education centre.
“With more coastline than both the Gold and Sunshine Coasts and six beautiful island communities, the cost of being a coastal city is not insignificant and this year we will invest $6.4 million into maintaining marine assets, including canal and breakwater works.”
Major individual projects for 2019-20 include:
- Collins Street and School of Arts Road upgrade, Redland Bay, $4.5 million.
- Aquatic Paradise canal trench blocks, Birkdale $2.5 million.
- Weinam Creek parking and development project, Redland Bay $2.3 million.
- Stage 2A of Thornlands Community Park, Thornlands $2 million.
- William Street breakwater, Cleveland $1.9 million.
- Redlands IndigiScapes Centre visitor centre upgrade, Capalaba $2.2 million.
Go to our website at redland.qld.gov.au/budget for full budget information.