Council meeting highlights – Monday 29 October

Date posted: 29 October 2018

Please see below for highlights of the final determinations made at tonight’s Ordinary Council Meeting of Lake Macquarie City Council.

The full agenda and reports are available at meeting agendas and minutes.

Community Event Funding

Council approved more than $10, 000 in funding for community events, as part of the Community Event Funding Program. These events include:

Financial Statements for the year ended 30 June 2018

Council adopted the 2017/2018 Financial Statements and authorised a presentation of the Council’s audited financial statements to the public at 4pm, Wednesday 7 November at the Council Chambers.

Quotes from Mayor of Lake Macquarie, Cr Kay Fraser:

Mayor of Lake Macquarie, Cr Kay Fraser, said she is proud of Lake Macquarie City Council’s strong and stable financial position.

“This is a fantastic position for Lake Macquarie City Council to be in, with an operating result of $10.9 million (excluding capital grants and contributions),” Cr Fraser said.

The Financial Statements show Council has once again improved its financial position, while still delivering high quality services, projects and infrastructure to our growing community, including a record capital works spend of $116.5 million.

“I am also pleased that Council’s asset infrastructure backlog has improved to 2.4% this year. This is predominately a result of Council prioritising renewal works, which included spending $23.1 million on replacing roads and $2.2 million replacing existing footpaths. These are just two examples of upgrading old facilities with new ones.”

Council is also in a strong position to meet its current commitments. For every dollar of liability, Council has $2.75 to meet that liability. Council has also contained debt and is not overly geared despite significant growth in our local government area.

This financial position is reinforced by Council’s results meeting all Office of Local Government benchmarks.

Page last updated: 29 October 2018