Highlands News

Financial statements show deficits

wingecarribee council june 15 2021

For the first time, in a long time, Wingecarribee Council has recorded financial losses.

The 2020/21 annual financial statements show a deficit of more than $700,000 and the General Fund also reported a deficit of $4.3 million.

Below are a number of factors which havelead to this:

* Cattle put through at the Southern Regional Livestock Exchange down due to COVID ($446k)

* Tulip Time revenue down due to COVID ($400k)

* Unplanned terminations & redundancies ($893k)

* Refunding fees received from Welcome Centre ($121k)

* Independent Reviews and Audits ($115k)

* Workers compensation insurance premium increases (by $500k to $1.9 mill).

Image: Wingecarribee Council 

 

Tags: Southern Highlands, Wingecarribee Shire Council