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Administrator’s message – Council finances stable for second consecutive year with tick of approval from Audit Office of NSW

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Council’s final 2022-2023 financial year (FY22-23) results were presented at the October Council meeting last night and showed that Council has sustained its stable financial position for a second consecutive year. 

The Audit Office of New South Wales conducted their formal review of Council’s consolidated financial statements and provided Council with an unqualified opinion – which means a ‘clean report’ was provided for Central Coast Council’s finances for FY22-23.  

Council’s audited consolidated operating budget result showed a surplus of $35 million, which is a year-end result within the range you would expect from an organisation of this size to reasonably operate within. 

In addition to stabilising the organisation’s financial position, Council remains focussed on continuous improvement, particularly in areas where we know community expectation is not yet being met.

As Council continues to manage its financials in a responsible manner, we can confidently plan programs of work which benefit the community and businesses on the Coast, including new playspaces, upgrading of facilities, ongoing road works and vital upgrading of water and sewer infrastructure. 

A financially stable Council also affords the ability to provide grant funding to community groups and projects for the benefit of locals and visitors alike.

Council’s audited financial results instil further confidence that Central Coast Council will be in a good position for an elected body to take back the reins in September 2024. 

Rik Hart, Administrator

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