Coast Community News 352

Page 1

29 JULY 2022

ISSUE 352

News

Sew what?

The State Government’s Inquiry into Homelessness amongst people aged over 55 in New South Wales held its third and final hearing at the Wyong Council Chambers ... See page 5

Out&About

Central Coast-based sewing groups and home sewers have dedicated their time and resources to making headwear for cancer patients, with local organisations joining in on the cause and providing funding and support to purchase the materials. See page 3

The sound of bagpipes, the swinging of kilts and the best of Highland dancing are back on the Central Coast as the International Highland Dancing Festival of Australia kicks off at the Niagara Park Stadium on July 29. See page 13

Business

The SASS and Hats of Hope sewing groups met members from the Terrigal Wamberal Lions Club at the Cancer Council on July 27 for a ‘Thank you’ morning tea.

Crisis over … dramatic turnaround in council finances in FY22 Central Coast Council has released its draft financial accounts for the financial year ended 30 June 2022 showing a return to an operating surplus of $46.4M (excluding capital revenue), a dramatic turnaround of $117M from the previous year. CEO, David Farmer, submitted the preliminary accounts for adoption by Administrator, Rik Hart, at the Council meeting on July 26, noting they were still subject to end of year adjustments and end of year auditing. The major contribution to the turnaround was a $60M in

Central Coast Council Administrator, Rik Hart

operating income to $650.8M, attributed largely to just under $26M in asset sales as well as increased property rates. Separately, the Council reported cash flows associated with asset sales of $57.3M. Revenues from property rates and other charges totalled $366.0M in FY22, or around 56 per cent of total revenues,

representing a $34.6M increase from the previous year. There was also a $57M decrease in costs in FY22 to $628.5M. Almost all of this decrease ($55M) came from reduced employee cost – a reduction of around one-quarter of employee costs for FY21. Hart said the accounts represented “a great result”. “We can now safely say the turnaround is complete (but) there’s still a lot of hard work to do within council to come (including) to deliver further productivity gains.” Council’s unrestricted cash

balance stood at approximately $120M, or $83M in net terms after excluding the negative balance in the Water Fund. Outstanding debt was $313M debt down from the ‘crisis’ level of $565M announced in 2020, which then included a $200 million ‘unlawful’ use of restricted funds, which was required to be paid back. Of the current $313M in debt, $135M is in “emergency loans”. Farmer reported that capital works expenditure came in at $107M, significantly lower than budgeted due to weatherrelated disruptions and supply chain issues. Farmer said it was envisaged

that the underspend in capital works would be caught up within the current 4-year program. Additional amounts were spent in FY23 on additional resources in the Development Application (DA) area to address unsatisfactory wait times as well as on additional road maintenance required in response to the heavy rains and flooding events across the local government area. Hart also bid farewell to John Gordon from the Council’s Risk and Audit Committee in accordance with the fixed term of his appointment.

The Central Coast Industry Festival and Expo, is shaping up to be the largest industry event held in the region with 50 exhibitors, highprofile keynote speakers and nine free capability-building workshops on offer. See page 21

Sport

Central Coast locals Nicola Olyslagers, Matthew Dawson, Bradley Woodward and Charlie Hunter, will represent Australia in hockey and athletics at the 2022 Commonwealth Games. See page 30

CCN

Puzzles page 18

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