Western Downs Regional Council has been singled out in the Queensland Audit Office’s (QAO) Report to Parliament: 2012-2013 audit as being the only Council amongst the 16 listed with higher financial risks in 2011/12 to be operating with a healthy surplus for the second year in a row and to therefore be showing signs of financial improvement.
Mayor Ray Brown said he was pleased with the result.
“Even though the Queensland Audit Office continues to report on Western Downs Regional Council’s financial position as part of the group of councils listed in the higher risk category, they have pointed out that our second operating surplus in a row shows that Council’s financial performance is improving.”
Additionally the QAO report also noted that Council does not have an up-to-date risk management policy or risk register.
“Indeed, Council has recognised the importance of an Enterprise Risk Management approach to support a financially sustainable position and is well advanced in the process of establishing relevant policies and procedures to identify, document and mitigate against significant and emerging business risks. This approach is based on our already established Financial Risk Management Framework.
“The Western Downs economy continues to grow faster than the State’s economy so we face both opportunities and challenges which is why financial sustainability is at the forefront of Council’s strategic planning.”
