{"id":299498,"date":"2021-05-20T15:02:41","date_gmt":"2021-05-20T05:02:41","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=299498"},"modified":"2021-11-16T18:41:05","modified_gmt":"2021-11-16T08:41:05","slug":"3-2m-council-deficit-tipped","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2021\/05\/20\/3-2m-council-deficit-tipped\/","title":{"rendered":"$3.2m Council Deficit Tipped"},"content":{"rendered":"
\"\"
South Burnett Regional Council’s 2021-22 Budget deficit may come in $1.4 million lower than previously predicted thanks to cost savings, Mayor Brett Otto said on Wednesday<\/figcaption><\/figure>\n
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South Burnett Mayor Brett Otto<\/figcaption><\/figure>\n

May 20, 2021<\/strong><\/p>\n

South Burnett Regional Council’s projected $4.65 million deficit for 2021-22 may actually come in at $3.2 million, according to Mayor Brett Otto.<\/p>\n

The reason for the lower-than-expected shortfall is $1.4 million in savings the Council has made on this year’s outlays.<\/strong><\/p>\n

In his monthly report – delivered at Wednesday’s Finance standing committee meeting – the Mayor noted that Council’s total borrowings were $33.297 million at the end of April.<\/p>\n

About $2.9 million of this was current debt and the rest was classified as non-current.<\/p>\n

Against this, Council had total cash reserves of more than $35.6 million and total assets in excess of $920 million.<\/p>\n

Later the same day – at a Budget planning meeting – the Mayor said his earlier predictions of a $4.65 million deficit may now need to be revised.<\/p>\n

In light of the savings that have been found in day-to-day operations, he believed the deficit might now come in at $3.2 million.<\/p>\n

The Mayor said Council had inherited a $2.8 million deficit when it handed down its first Budget last year.<\/strong><\/p>\n

This was due to a change in depreciation allowances made a short time before the new Council came to office.<\/p>\n

The final deficit will be announced when the 2021-22 Budget is handed down on June 30.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Burnett Regional Council’s projected $4.65 million deficit for 2021-22 may actually come in at $3.2 million, according to Mayor Brett Otto.<\/p>\n","protected":false},"author":3,"featured_media":257956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[22,3],"tags":[1131],"yoast_head":"\n$3.2m Council Deficit Tipped - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"South Burnett Regional Council's projected $4.65 million deficit for 2021-22 may actually come in at $3.2 million, according to Mayor Brett Otto.\" \/>\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\/2021\/05\/20\/3-2m-council-deficit-tipped\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$3.2m Council Deficit Tipped - 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