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Noosa gets the thumbs up from state's auditors

Noosa Council has received another clean bill of health from the State’s auditors.

The Queensland Audit Office has advised it will issue Council an unmodified audit opinion.

Mayor Tony Wellington said the tick of approval shows council’s ongoing commitment to prudent financial management.

“This is yet more tangible evidence of a well-managed, financially sound council that is keeping rate rises low while providing appropriate levels of service to our community,” he said.

“There are always a number of council detractors that falsely suggest we are in financial trouble. However, we have not delivered a financial deficit since de-amalgamation, our cash and cash equivalents remain higher than our total debt and we have even managed to pay down $10 million from our inherited high interest rate loans.” Cr Wellington said.

The report identified Council had a strong capital structure and was in a good position to obtain funding for future capital projects. Council’s average asset sustainability ratio was within the range set by the Queensland Audit Office.

Director of Corporate Services Michael Shave said the audit result was a testament to the commitment of council staff.

“We are continuing to deliver key projects for the community through a balanced, responsible approach,” he said.

“The QAO declared our financial sustainability assessment as low risk, which is a sound result and a significant achievement for council,” he said.

Cr Wellington said good financial governance remains a top priority.

“We want our future generations to enjoy the benefits of a strong, sustainable Noosa and this audit review shows we are in an excellent financial position to deliver that result.”

6 November 2019