Bayside Council to provide factual summary of history of council finances

Bayside Council to provide factual summary of history of council finances

Bayside Council will write to the Office of Local Government providing a factual summary of the history of Council's finances from amalgamation to the end of 2020.

"This would support the unqualified statement from the Auditor General, in order to set the record straight in terms of the misinformation circulating in various forms about our financial position," Cr Liz Barlow said in a Notice of Motion submitted to last month's council meeting.

The NSW Auditor-General, Ms Margaret Crawford addressed November's Bayside Council meeting in person to congratulate the council on its audit result of its 2019-2020 financial statements.

"The correct facts in regards to our finances must be placed on the public record and should inform part of our information package with regard to the equalised, minimum rates charged across the Bayside local government area," Cr Barlow said in her Notice of Motion.

"The accurate financial figures at time of amalgamation were: The former City of Botany Bay Council had a cash balance of $126 million of which only $4.8 million was held in internal reserves.

"The remaining $121 million was externally restricted and can only be spent for the purpose for which it was collected.

"In regards to the former Rockdale City Council, the cash balance was $148 million, of which $61 million was held in internal reserves.

"The remaining $87 million was externally restricted and can only be spent for the purpose it was collected.

"It must also be noted that the discretionary cash and investments (internal reserves) for the former Councils at the time of amalgamation were: the former City of Botany Bay Council $4.8million, the former Rockdale City Council $60.92 million."

But Councillor Christina Curry said that the figures needed to be put into some sort of context.

"It needs to be validated in the form of a report," she said.

The council's director city performance, Michael Mamo told the councillors that the council's finance team would put together a summary to inform the letter that would be submitted to the OLG that would outline the financial positions pre amalgamation and post amagamton using the published financial reports.

"The figures are correct," Cr Barlow said.

Councillors voted to support Cr Barowl's Notice of Motion, with Crs Christina Curry and Scott Morrissey voting against.

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