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Home › Comprehensive review of Council's future financial sustainability underway

Comprehensive review of Council's future financial sustainability underway

18-Aug-2009

Review Today Pty Ltd has been engaged by Dubbo City Council to independently ascertain, document and communicate the condition of Council’s infrastructure and finances as well as identify long-term funding needs and options.

In June 2009, Council resolved to make provision for engaging an independent expert to undertake the review, which got underway this week.

Former NSW Treasury Secretary Professor Percy Allan AM, who is Research Director of Review Today Pty Ltd, is being supported by a team of other experts from GHD Ltd and TreEnt Pty Ltd who have extensive experience in asset management and financial modelling.

Review Today Pty Ltd develops long-term financial strategies to help councils achieve the best balance between the competing goals of sustainability – sustainable services, sustainable infrastructure, sustainable finances, and affordable rates, fees and charges.

Dubbo City Council General Manager Mark Riley said maintaining Council’s extensive asset base – estimated to be worth around $997 million – was becoming more difficult given reduced resources.

The Minister for Local Government’s decision not to permit a special rate variation for Council in the 2008/09 financial year of two per cent for road infrastructure and two per cent for parks and landcare operations resulted in many vital City projects being put on hold.

“The issues of ageing infrastructure and their subsequent maintenance and renewals are still very much applicable to the problems identified some years ago which have still not been resolved,’’ Mr Riley said.

Professor Percy Allan is well known for his comprehensive report “Sustainability of Local Government in NSW”, commissioned by the Local Government and Shires Association (LGSA). He was also Chairman of the NSW Treasury Corporation and Secretary of the NSW Treasury Department from 1985 to 1994. Review Today has undertaken comprehensive assessments for councils such as Albury, Newcastle, Wollongong, Great Lakes, Greater Taree and Armidale.

“It is considered that Professor Allan is the pre-eminent person in the State for undertaking asset condition and financial capability reviews for multi-purpose local government authorities,’’ Mr Riley said.

“As General Manager, I consider the funding of this review to be most necessary and prudent to assist in ensuring the viability of Dubbo City Council into the future. Following completion of the review, Council will be in a solid position to consider future funding strategies. The Review Today approach provides an integrated solution to long-term community, strategic, financial and asset planning as required by new State Government legislation, which is estimated at 40% of the cost of undertaking separate consultancies.’’