Council’s financial position at end of year was actually “quite good”, corporate services director Stefan Murru has told councillors, despite still waiting on some $5 million in funds owed for work council has already done.
Councillors gathered for an extraordinary meeting to give the okay for Forbes Shire Council’s 2024-2025 financial documents to go to the auditors.
Once audited, they’ll be presented back to councillors and made publicly available, but he did offer councillors some insights.
“Obviously we’ve had quite a bit of discussion during the year in regards to available cash,” Mr Murru said.
“At various points in time during the year we were behind the eight-ball in relation to the receipt of flood damage grants.
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“We went and we did the work on our flood-damaged roads, and then because the tripartite agreement only came in relatively recently we were out of pocket anything up to five, seven, or including other grants up to $10 million for works: monies that were owed to us.”
At year end, Mr Murru said, the council was still about $5 million behind but hopeful of having those funds “in the door” in the next couple of months.
It had about $5 million in available cash.
Key to the result was the introduction of the “tripartite agreement”, which provides accelerated funding from other levels to government to enable repairs to roads and transport infrastructure damaged by natural disasters.
In the year, Forbes Shire Council completed some $7 million worth of road works, on top of grant-funded projects and flood repairs.
The council completed $23.4m in capital works and repaid $3 million of debt.
The Central West Livestock Exchange was a standout on the council’s financials for the year, after a year of making headlines with record yardings and record prices.
Record sheep throughput, with a single Tuesday sale yarding nearing 60,000, was key to $6.6million in revenue.
“That’s a record,” Mr Murru said, giving credit to manager Cassie Walmsley and the staff.
Mayor Phyllis Miller voiced her agreement, with tribute to local livestock agents and the agents association.
“They are the ones that bring the business to the saleyards,” she said.
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