Draft Budget 2015-16

Published on 26 June 2015

The tide has turned; for the first time since amalgamation, Rockhampton Regional Council has paid off nearly $4.5 million of debt in the last three years.

Rockhampton Region Mayor Margaret Strelow said strong decisions at de-amalgamation meant TC Marcia was only a hiccup in the 15/16 budget, not a game changer.

“Our debt has declined progressively for the last two years which is a solid indication that Council is on target with its financial plan to create a sustainable future for the Region,” Mayor Strelow said.

“Achieving an operating surplus of $7.53 million makes this budget one of our most difficult to prepare and has required substantial discipline to keep within the set limits of the financial plan.

“The 2015/16 draft budget shows no increase in loans for the new financial year so we are very much looking forward to receiving our next credit review after achieving a moderate rating with a neutral outlook for 2014/15.

“We are confident that we are moving in the right direction. Our 2015/16 budget responds well to the tough economic climate yet still provides investment in Economic Development initiatives that will assist with the Region’s growth.”

This proposed budget is subject to adoption by the full Council on 9 July 2015.