{"id":13395,"date":"2012-10-15T17:52:46","date_gmt":"2012-10-15T07:52:46","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=13395"},"modified":"2013-03-25T22:06:40","modified_gmt":"2013-03-25T12:06:40","slug":"council-wont-need-overdraft","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2012\/10\/15\/council-wont-need-overdraft\/","title":{"rendered":"Council Won’t Need Overdraft"},"content":{"rendered":"

\"\"<\/a>
A potential hiccup in flood repair funding appears to have been overcome<\/figcaption><\/figure>October 15, 2012<\/strong><\/p>\n

There’s no longer a need for Council to obtain an overdraft to ensure payment for road repairs as a hiccup in accessing funding appears to have been resolved … but they’re going to keep it up their sleeve, anyway.<\/p>\n

The South Burnett Regional Council and the Queensland Reconstruction Authority (QRA) agree there is “no issue” between them over payments for road repairs.<\/p>\n

A recent news report suggested Council had not yet received $25.9 million to pay for the repairs, and for this reason was establishing an overdraft facility to make payments.<\/p>\n

However, southburnett.com.au<\/strong> understands Council had received the funding. <\/p>\n

The issue actually lay with the processing of QRA approvals allowing it to access the funds.<\/p>\n

It was for this reason the Council voted recently to establish an overdraft facility to cover any possible cash flow issues in paying contractors and sub-contractors.<\/p>\n

On Friday, Member for Nanango Deb Frecklington said Council had received payments of $30.9 million from the QRA and had spent $22.4 million.<\/p>\n

“My understanding is that the South Burnett Regional Council has no financial issues with payments from the Queensland Reconstruction Authority,” she said.<\/p>\n

Mayor Wayne Kratzmann said today that following Council\u2019s decision to source an overdraft, the QRA had released more funds to cover payments.<\/p>\n

“Since Council\u2019s decision QRA has released the necessary funds to cover the cost of works to date plus the necessary advance to avoid having to use the overdraft facility,” he said. <\/strong><\/p>\n

Deputy Mayor Cr Keith Campbell said that as the overdraft facility had now been established, and it was not a cost to Council, it would remain in place until the flood works are finished in mid-2013.<\/p>\n

“Holding the overdraft will protect the interests of local sub-contractors and local suppliers,\u201d he said.<\/p>\n

CEO Mr Ken McLoughlin said the QRA was currently inundated with claims and was “under significant pressure from many Councils across Queensland”.<\/p>\n

\u201cQRA and Council enjoy a very professional relationship and South Burnett Regional Council has a high regard for the work they are doing to help get the flood recovery done,\u201d Mr McLoughlin said.<\/p>\n","protected":false},"excerpt":{"rendered":"

There’s no longer a need for Council to obtain an overdraft to ensure payment for road repairs as a hiccup in accessing funding appears to have been resolved … but they’re going to keep it up their sleeve, anyway.<\/p>\n","protected":false},"author":3,"featured_media":13555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,3],"tags":[],"yoast_head":"\nCouncil Won't Need Overdraft - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2012\/10\/15\/council-wont-need-overdraft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Council Won't Need Overdraft - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"There's no longer a need for Council to obtain an overdraft to ensure payment for road repairs as a hiccup in accessing funding appears to have been resolved ... but they're going to keep it up their sleeve, anyway.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2012\/10\/15\/council-wont-need-overdraft\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2012-10-15T07:52:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-03-25T12:06:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2012\/10\/kumbia-brooklands-250.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"250\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dafyd Martindale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dafyd Martindale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2012\/10\/15\/council-wont-need-overdraft\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2012\/10\/15\/council-wont-need-overdraft\/\",\"name\":\"Council Won't Need Overdraft - 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