Council scores top marks
Published: 25 September 2018
The City of Logan has been commended for its financial practices after being awarded the top rating across a number of key categories.
Accounting firm Deloitte was appointed by the Queensland Audit Office to prepare a report on Council’s financial situation to comply with standard auditing requirements.
The report gave Council a green rating for overall financial sustainability, its financial statement preparation process and its internal control measures.
City of Logan Acting Mayor, Cherie Dalley, said Council’s financial stability is the envy of other Councils across Queensland.
“This Deloittes audit report reconfirms Council’s reputation as a smart and transparent financial manager,” she said.
“With a budgeted operating surplus of $12.8 million and debt at just three per cent of our overall asset base, there is no doubt that Council is on the right track with its financial practices.
“I’d like to thank all staff for this excellent result and City Treasurer Trevina Schwarz for her role in ensuring Logan’s financial position leads the state.”
LGAQ Chief Executive Officer Greg Hallam, said Logan City Council had been in a strong financial position for many years and these latest results suggest an even better outlook.
"Sustainability ratios are a crucial measure and it's very encouraging to see the independent auditor's assessment of their strong financial health,” he said.
Council’s strong economic performance allowed it to contain the 2018/19 rate rise to just 1.48 percent and freeze water and sewerage charges for a second consecutive financial year.