Council books balance up

FINANCIAL statements for the year to 31 March show the Council is well on track to meet its budgeted revenue. Since July, Council has received almost $60 million in revenue.

According to the financial statements, operating revenue met budget largely because of higher income from rates which offset a lower than budgeted parking income.

Capital expenditure is well down on budget with just $20 million spent in the year to date since July.

This is because several projects including the Town Hall restoration, river foreshore irrigation, Stirling Street road reserve and Aberdeen Street car park are being deferred.

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