Coun­cil’s early cash in­jec­tion

Deniliquin Pastoral Times - - JUMP ROPE FOR HEART DAY - By ZOE MCMAUGH

Ed­ward River Coun­cil has re­ceived an ear­lier than ex­pected cash boost of al­most $2.7 mil­lion with the Com­mon­wealth Gov­ern­ment’s de­ci­sion to par­tially pay the Fi­nan­cial As­sis­tance Grants ahead of sched­ule.

These are usu­ally paid in quar­terly in­stal­ments start­ing from mid-Au­gust, but coun­cil has al­ready re­ceived half of its 2018-19 al­lo­ca­tion.

Gen­eral man­ager Adam McSwain said the al­lo­ca­tion is al­ready bud­geted for in coun­cil’s op­er­a­tional plan for the com­ing 12 months, with the money to be folded into its over­all cap­i­tal works pro­gram.

He said while wel­come, the early pay­ment won’t al­ter coun­cil’s works pro­gram be­cause they can­not fit any more in it.

How­ever, he said the early pay­ment could ben­e­fit the coun­cil and com­mu­nity in other ways.

‘‘Get­ting the money in the bank ac­count early can ac­crue more in­ter­est, which could be put into other projects down the line,’’ Mr McSwain said.

‘‘Hav­ing the money there is good for cash flow, and to keep projects flow­ing through.

‘‘The money is al­lo­cated in two com­po­nents, with this early pay­ment in­clud­ing $1,911,716 in the gen­eral com­po­nent and $763,571 for lo­cal roads.

‘‘We’re told this rep­re­sents about half of our an­nual al­lo­ca­tion, with the rest to be paid in quar­terly in­stal­ments over the next 12 months.

‘‘We knew that no coun­cil would re­ceive less than in the 2017-2018 year, so the amount is what we ex­pected.’’

Coun­cil’s Op­er­a­tional Plan in­cludes a $15.7m cap­i­tal works pro­gram, which will be de­liv­ered along­side the al­ready an­nounced Stronger Com­mu­ni­ties Fund Ma­jor Projects Pro­gram.

Mayor Norm Bren­nan said the cap­i­tal works will see a lot of im­prove­ments to road, wa­ter and sewer in­fra­struc­ture.

He said it in­cludes a $1.9 mil­lion ru­ral road re­seal and resheet pro­gram and a $1.3 mil­lion wa­ter and sew­er­age pro­gram, which will de­liver around $750,000 worth of wa­ter main re­ha­bil­i­ta­tions, as well as the re­place­ment of the Char­lotte St and Hardinge St wa­ter mains.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.