Council posts strong result in 2014/15 annual report
Date published: 24 November 2015
The Townsville City Council recorded a third straight surplus and delivered a big program of projects and services across the city in the 2014/15 financial year.
Council’s annual report adopted today included a final operating surplus of $7.8 million and $232.4 million in capital projects.
Mayor Cr Jenny Hill said the report was a strong result for the city.
"The annual report is a significant achievement and places the council in a strong and sustainable financial position for the long term benefit of the community," Cr Hill said.
"Maintaining a responsible approach to the city’s finances, the council recorded a third successive surplus, and at the same time funded the priority projects and services to support Townsville’s growth.
"City debt was also cut over the year by a further $4.6 million to $329.2 million, well down from the 2012 level of $372.6 million level.
"The council’s commitment to prudent financial management has supported four years of low rates rises and placed the council in a better position to undertake future borrowings for important infrastructure projects vital for the city’s expansion."
"I thank council staff and councillors for the work they’ve done to achieve another strong result for the city and the community."
Corporate Governance Committee chair Cr Jenny Lane said the council’s long term financial strategy had laid the platform for the past three years’ results.
"The council is now in a stronger financial position to fund important infrastructure and services in a more sustainable way for our community," Cr Lane said.
"Last financial year was a big year for the council with the completion of the State funded Blakeys Crossing upgrade, commencement of the $40 million Dalrymple Rd Bohle River crossing upgrade, construction of the $8 million Magnetic Island Waste Facility and $35 million in capital works on local roads."
Other highlights included completion of the $7 million Howitt Street drainage upgrade, Stage 1 of the $25 million Townsville Recreational Boating Park and $6.5 million reservoir at Mount Louisa and $5.3 million Southern Suburbs Pump Station and pressure main project servicing southern suburbs.
The Annual Report was released at Full Council today and is available on council’s website at www.townsville.qld.gov.au.
