CEO praises council on financial success
BUNDABERG Regional Council received $228m in income for the 2017-18 financial year.
Ratepayers contributed 77 per cent of the council's recurrent revenue of $186.8 million through the rates and utility charges of 44,720 rateable properties.
Rates, levies and charges came to a total of $144.5 million. Of this, fees and charges came to a total of $19 million.
The community has been provided an opportunity to look at the council's finances with the 2017-18 annual report put up for adoption at today's ordinary council meeting.
In the council's recurrent expenses, the largest component was employee benefits, at $64 million (38 per cent). Repair and maintenance of council assets was the second highest expense at $56 million.
The report highlighted that debt per capita had increased in the 2018 financial year from $617 per capita at the end of the 2016-17 financial year to $827 at June 30, 2018, due to the loan draw down of $25.5 million to fund such projects as Rubyanna Wastewater Treatment Plant, the Cedars Road landfill and the Burnett Heads CBD Revitalisation.
The financial position of council at June 30 was $2.2 billion in assets and $123 million in liabilities.
CEO Stephen Johnston commended the council in its quest to promote the region as a prime investment location.
"The successes recorded in the 2017/18 financial year are the result of the professional and collaborative efforts of the mayor, councillors, managers and staff right across the Bundaberg Regional Council,” Mr Johnston said.
"The move to renewables through ... energy efficient lights and air conditioners... will add to these saving in future years.
"The Bundaberg - Open for Development initiative has resulted in almost $300 million in approved projects being incentivised.
"It is this level of investment that continues to strengthen out building sector and delivers on job creation.
"The past 12 months have consolidated an economic platform from which the region is launching towards horizons of opportunity.”