The regional council achieved 87 per cent of its performance targets and delivered an operating surplus for the year. After transfers to reserves and allowing for carry-over of funds to finish works started but not finished last year, the surplus provides unallocated funds of $3.75 million. This includes the carry-over of $2 million from previous financial years to fund a budgeted operating deficit. The positive budget results reflect a wide variety of factors, including an increase in user-pays revenue, salary savings due to staff vacancies and an ongoing focus on controlling and reducing costs.
Posted on: Mon, 19 Aug 2013 05:30:10 +0000