The Moira Shire Council has recorded a budget deficit of $4.8 million for the last financial year.
Last Thursday, October 10, Moira Shire Council administrators passed a motion to certify the council’s 2023/24 financial report and performance statement for the financial year ending June 30, 2024.
Put forward by Administrator Suzanna Sheed, the motion was seconded by Chair Administrator Graeme Emonson.
Dr Emonson said the council has a financial challenge that needs to be addressed to position it favourably by 2027/28.
“As I said, the accounts do foreshadow that we do have ongoing financial pressures. I’m really pleased the organisation has embraced the strategy to place us into a financially sustainable position over the next four years,” he said.
“While we are seeing an underspend on our major projects this current year, we are certainly expecting that with the new arrangements and new directions from project management, we will see a catch-up on the capital expenditure in 2024/25.
Moira Shire Council manager of finance Beau Mittner said the shortfall was due to timing differences in the receipt of the Commonwealth Government’s Financial Assistance Grant, which was not received until July this year.
Mr Mittner also said there had been delays in obtaining funding approval for externally funded flood recovery works, including those related to the delayed work on Stage 1 of the Numurkah Flood Mitigation Project.