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OLG advise Councils during pandemic to "continue to make sound financial decisions"

The Office of Local Government are advising Councils to look to achieving financial targets during the pandemic. As COVID-19 continues to impact communities throughout NSW, the Office of Local Government (OLG) says that it understands that many councils are facing difficulties in balancing their budgets and achieving their financial targets saying: "These are unprecedented times for councils and OLG will work to ensure that the audit process acknowledges the challenges councils face and that financial performance will inevitably be affected. In the latest newsletter the OLG says it understands that councils are facing additional expenses, significant reductions in revenue, and challenges in ensuring the ongoing delivery of important community services. They advise "Financial management strategies will need to be flexible and adaptable and OLG will take a pragmatic approach to council performance this year. No council should be considering reducing services or staffing just to demonstrate compliance with financial benchmarks. "In the coming months, as councils continue to respond to the COVID-19 pandemic they should continue to make sound financial decisions which includes continuing to meet ongoing financial obligations."

Above: The Eurobodalla Council is about to break into its piggy bank to pay for the $15 million shortfall on the Mackay Park project. The General Manager has advised that the shortfall will be met by sources such as the Infrastructure Fund, Section 94A Fund and gleaned from restricted and unrestricted accounts along with sales of real estate, reserves and moneys derived from shares and the still undisclosed sale price for the Moruya Racecourse.

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