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Debt reduction builds on strength of Western Downs’ communities

20 June 2018

Spokesperson for Finance and Corporate Services Cr Ian Rasmussen says Council is committed to reducing debt.

Spokesperson for Finance and Corporate Services Cr Ian Rasmussen says Council is committed to reducing debt.

Western Downs Regional Council has cemented its reputation as one of the most financially responsible councils in the state, reducing its debt by a staggering $50 million since 2015.

Council Spokesperson for Finance and Corporate Services Councillor Ian Rasmussen said long-term financial sustainability and delivering value-for-money services were core business principles Council operated under.

“Placing Council in a strong financial position now helps set the Western Downs up for financial success into the future, ” he said.

“Not only have we substantially cut down our portfolio of loans over the past three years we’ve also reduced our operating expenditure by $11 million in the same period without comprising on the quality of the services we are providing to our Western Downs community.”

Significant savings have been made by early debt repayments, resulting in money saved on interest as well as streamlining services to make delivery more efficient and cost effective.

Council has installed solar panels on its buildings to save electricity costs, has worked with local contractors to break large tender packages into smaller contracts that can be supplied by locals and has decreased the size and efficiency of their fleet.

Councillor Rasmussen said forecasts indicate that the savings and debt reduction made since 2015 have placed Council in a strong financial and operational position for the next decade.

“Our focus on maintaining the good financial standing of this Council and making decisions with money that will benefit our ratepayers for years to come means that we are looking way ahead into the future,” he said.

“We are thinking outside the box and the results speak for themselves, meaning we have more funds to allocate to important projects and assets that future-proof our communities.”

Media Contact: Lisa Machin | Media Relations Senior Officer | 0419 048 594