The NSW Auditor-General has confirmed Council’s financial statements present fairly, in all material aspects, the financial position of Central Coast Council as at 30 June 2017, and of its financial performance and its cash flows for the period 13 May 2016 to 30 June 2017 in accordance with the Local Government Act 1993 and Australian Accounting Standards.

Council has exceeded a number of key performance benchmarks set by the Office of Local Government for Councils including investing in buildings and infrastructure renewals by 42% above the benchmark.

Mayor Jane Smith said the Auditor-General’s report was a strong endorsement of Council’s financial management.

“A lot of hard work has gone into aligning the organisation, financial systems, reducing red tape and finding efficiencies which is now paying off,” Mayor Smith said.

“The injection of funding from the State Government through the Stronger Communities Fund, New Council Implementation Fund and the Federal Financial Assistance Grants have been extremely positive for Council’s bottom line in these financial reports.”

“The community can be confident we have the sound finances and a strong asset base of $6.9 billion to deliver the services they need now and into the future.

“Our focus is to continue to prioritise spending in the areas our community have told us they want us to focus on the most – roads and drainage, water and sewer infrastructure, open space and recreation and maintaining our natural environment.”

The report and financial statements for the 13.5 month statutory reporting period, from 13 May 2016 to 30 June 2017, confirms a total income from continuing operations of $723.7 million, a surplus excluding capital income of $65.4 million and an asset base worth $6.9 billion.