Audit report shows Coast is in good financial health
  • Wednesday 19 April 2017
Finance

Sunshine Coast Council has outperformed other major South-East Queensland councils in a Queensland Audit Office report on the financial health of Queensland councils.

The report presented in State Parliament this month summarises the results of audits undertaken in 2015-16 on Queensland’s 77 councils and 81 of the related entities they control.

It includes the QAO’s analysis of the financial position, performance and sustainability of councils as well as the timeliness and quality of financial reporting.

Sunshine Coast Council was the only council in a group of eight South-East Queensland councils to achieve the highest possible results in financial sustainability, financial statement preparation and internal control effectiveness.

Mayor Mark Jamieson said the report showed Sunshine Coast Council was in good financial health.

“Our ratepayers can be assured we are in a strong position financially as we continue to strive towards our vision to be Australia’s most sustainable region - healthy, smart and creative,” Mayor Jamieson said.

“We have received eight consecutive unqualified audits which is a fantastic outcome and one that all of our ratepayers should be pleased to see.

“Our financial management is independently considered to be at the highest level possible.

“In its report, the QAO also noted that our net financial liabilities ratio indicates we have sufficient operating revenues to service our current debt levels without stress, and we could increase debt if and when required.”

Corporate Strategy and Finance Portfolio Cr Tim Dwyer said the focus remained on continuing to achieve a strong financial position long term.

“Prudent financial management is very important as we shape a sustainable future for Sunshine Coast residents,” Cr Dwyer said.

“Our council prides itself on its financial stewardship which has enabled us to progress major game changing projects for the region, like the new Maroochydore City Centre, the Sunshine Coast Airport expansion and the development of the Sunshine Coast Solar Farm.

“These investments are investments in the future of our community and it is made possible by strong fiscal discipline and a clear plan for the future”.