Council debt never higher than $440M says Inquiry witness
Central Coast Council still does not report the number of employees in every budget, so the community still doesn’t know where the big spending cuts are being made, according to…
debt
Council through a business prism
Forum – It’s my view that politicians and (especially) councillors (should) be eligible for office only if they have been intimately involved in private enterprise for a solid period of…
Internally restricted funds still keeping Council afloat
On the eve of the Public Inquiry into Central Coast Council Administrator Rik Hart has acknowledged internally restricted funds still need to be used to keep the Council afloat. Hart…
Council debt less than expected
Central Coast Council reached the end of July 2021 with around $110M less debt than expected. The total debt appears to be about $455M as of July 31. This was…
Submission questions whether restricted funds need to be paid back
One resident’s submission to the Public Inquiry into Central Coast Council’s financial woes questions the need to pay back Council’s “bad debt” of $200M of restricted funds. The Council negotiated…
Recently released report sheds additional light on Council borrowing
In August 2020, a report to Central Coast Council suggested that it should not borrow more money until its operational performance improved. The report was commissioned in April 2020 by…
Latest financial reports reveal almost all Council debt is Water Supply Authority
Almost all of Central Coast Council’s debt appears to be confined to the Central Coast Water Supply Authority, rather than within the Council, it was revealed in 2019/20 audited financial…
Auditors in Council’s sights
Auditors are in the sights of Central Coast Council about advice provided on the reporting of restricted funds. It appears this may have led the Council to believe it had…
Council has a $565M debt
Central Coast Council has a $565M debt, it was announced on Wednesday, December 2, when interim Administrator, Dick Persson, delivered his 30-day report on Council’s financial crisis. The debt includes…
Council’s debt blows out to $565M
Central Coast Council has racked up a $565M debt, it was announced on December 2 when interim Administrator Dick Persson delivered his 30-day report on Council’s financial crisis. The debt…
Ban political parties from local government positions
Forum – What a disaster our new Central Coast Council has turned out to be, plunging us ratepayers in multimillion dollar debt in only three years, and no light at…
Debt and deficits
[Forum] And we are supposed to be surprised; no way; but yes, it was to be expected; the Central Coast Council running up a huge multi million dollar debt. And…
Who approved our increasing national debt?
During several press interviews (in 2015), Mr Hockey stated that we are spending $40 million a day to repay the interest on our national debt. This equates to each Australian…