Council counts the cost of TC Debbie
THE Airlie Beach Lagoon is expected to cost about $400,000 to fix and it’s money the local council hasn’t budgeted for.
In fact how much Cyclone Debbie was going to cost, how much would be covered by insurance and National Disaster Relief and Recovery Arrangements payouts and what the shortfalls would be was a topic for deliberation at council’s regular meeting last week.
Chief Financial Officer Matthew McGoldrick explained “some of our assets are not going to get covered… so council needs some funds from somewhere”.
Mr McGoldrick’s answer was to create a capital works restoration reserve comprising $5 million from revenue previously set aside for capital works in the 2016/17 budget, operational savings of $1.3 million and $3.9 million transferred from “other reserves”.
He explained that without these types of funds at their disposal there were currently urgent projects