A STRONG recovery from the global financial crisis has left the Hills Shire Council with a budget surplus of nearly 10 times the amount they anticipated for the last financial year.
The original budget adopted by the council forecast a surplus of $165,254 for the 2009-10 financial year.
But the council ended the year with a $1,585,267 surplus due to a higher than expected income from areas such as general rates, interests on investments and user charges.
A council spokeswoman said: “Council predicted only a surplus of $165,000 when the budget was set in March 2008 in the height of the global financial year crisis.
“With the increases in interest rates council received almost double the amount forecast, and also maintained strict financial discipline without affecting any service levels.”
Despite the large amount of savings the council also managed to complete 90 per cent of the planned capital works jobs.
The council spokeswoman said the council credits the financial success to general manager Dave Walker taking on the role of group manager for services delivery.
Mayor Peter Dimbrowsky credited the general manager and council staff.
“It shows that we are a financially stable council but we are to still able to get the job done,” he said.
The majority of the $1.5 million surplus is expected to be spent on works for the Castle Hill main st.
Source: whereilive
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