Maitland City Council is expected to be in a satisfactory financial position at the end of this financial year, when measured against the city’s 2015/16 operational budget.
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Council’s projected year-end cash position is sufficient to fund all programmed works in 2015/16...
- Phil Freeman, Maitland City Council finance manager
A budget review for the March, 2016, quarter shows Maitland Council is on track for a surplus of $7834 at the end of this financial year.
This is up from the previous surplus estimate, last June, of $6874.
“It is my opinion that the Quarterly Budget Review Statement for Maitland City Council for the quarter ended 31 March 2016 indicates that council’s projected financial position at 30 June 2016 is satisfactory at year end, having regard to the projected estimate of income and expenditure and the original budgeted income and expenditure,” council’s finance manager Phil Freeman reported to councillors at this week’s council meeting.
“Council’s projected year-end cash position is sufficient to fund all programmed works in 2015/16 whilst maintaining sufficient cash and investments to cover both internal and external reserves.”
