2017/18 Budget - Council ledger is back in black

Date published: 27 June 2017

Townsville City Council has turned around the city’s finances with a return to surplus this year and multimillion dollar surpluses forecast over the next decade.

Council’s restructure and ongoing reforms from the Nous Report are delivering efficiencies and ongoing savings that will ensure the financial sustainability of the council.

Governance and Finance committee chair, Cr Verena Coombe said with the work that has been done with the restructure and the reform program, the council ledger looks better for ratepayers.

“This is good news for ratepayers because despite our drop in revenue we are still forecasting strong surpluses and that will maintain downward pressure on rates,” Cr Coombe said.

“We have reined in spending and improved our processes that are generating good efficiency dividends.

“These savings have been achieved without affecting any of our frontline services and keeping many of the benefits we provide the community such as the $800 rebate for pensioner concessions.

“In total, this budget will inject around $230 million into the local economy through our supply contracts and capital works program and $127 million on staff wages that will be spent in businesses in our community.”

Townsville City Council has forecast a $133,000 surplus for 2017/18 while also absorbing the $5.5 million for 5 months of pumping water from the Burdekin.

The council has forecast $14 million and $15 million surpluses for 2018/19 and 2019/20 respectively.

“Since the election in March last year, we have moved from an unsustainable financial position to one that has strong forecasts for the future.”

View 2017/18 Budget page