MidCoast Council Financial Statements To Be On Display To The Public | Manning River Hours

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The MidCoast Council’s draft financial statements for 2020-2021 will be on public display in December. This follows the November 24 meeting of the elected council, which decided to re-sign the declarations as part of the NSW Audit Office process. The NSW Audit Office will now finalize the audit process and prepare their audit close out report. Then the annual financial reports will be filed with the local government office and then put on public display. The financial statements show a consolidated net operating income for the year of a surplus of $ 37.077 million. “Considering the many challenges the board and the community face in the 2020-21 fiscal year, particularly with regards to COVID-19 and a major flooding, this is a solid result for the board. », Said the director general of the council, Adrian Panuccio. “The statements indicate that the board is in a stable financial position and has a good foundation on which to build its long-term financial viability.” The statements also confirm that the challenges of managing a backlog of renewal works on our roads, bridges, trails and community assets remain, Mr. Panuccio said. “This is a long term problem that existed before the merger and the board is constantly working to reduce this backlog through ongoing programs funded by revenue from tariffs and grants through government programs and federal. ” The financial statements of the MidCoast Council have undergone a detailed audit process. They will be exposed to community feedback after being submitted to the local government office. This is expected to happen in December, before the auditor presents to the newly elected Council in February. “Our financial situation is scrutinized and audited externally to ensure the transparency of our financial management.” The statements also revealed that the MidCoast Council completed more than $ 94.8 million in capital work for the community during the fiscal year. “This financial result is proof of our commitment to providing service to our community,” said Mr. Panuccio. MidCoast Council is responsible for managing $ 3.6 billion in real estate assets, factories and infrastructure.


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