Council 'on track' with financial plan
AT their last general meeting, Gladstone Regional Council stated that it was on track with its Long Term Financial Plan.
The plan provides a framework to continually and formally review Council's operations and investment decisions to ensure they are delivered in a financially sustainable manner.
Gladstone Region Mayor Gail Sellers said the plan reports on the key financial sustainability ratios for the council against the benchmarks established by the Queensland Treasury Corporation and the Department of Local Government.
"Council's review of the plan confirms that all key financial sustainability indicators are within the benchmarks established," Councillor Sellers said.
"Not only is Council's liquidity measure well above the commercial average, but our ability to service current debt levels is well within benchmark levels too."
Cr Sellers said these observations prove Council's operating model is one that has the organisation retaining a solid financial platform as it moves forward.
The plan will now be the subject of an external assessment and review by Queensland Treasury Corporations due to start late this year, and also by the Queensland Audit Office during its annual audit of Council.
For a copy of Council's Long Term Financial Plan visit www.gladstone.qld.gov.au/budget