Progress is being made against Council's financial plan with $1.7 million in cost-saving measures reflected in the quarterly report from October to December 2024.
The majority of money saved has come from job vacancies held across Council as a result of a more rigorous recruitment process. These one-off salary savings totalled $1.6 million up until December 2024.
Acting CEO James Ruprai said he was pleased to see progress being made against Council's Sustainable Financial Futures Plan 2024-2029 which sets out a goal of $10 million in savings over the next five years.
"These quarterly reports give both the community and the organisation insight into Council's short-term financial health to see how we're tracking against our annual goals," Mr Ruprai said.
"This second quarter report shows that Council staff are working hard to get the finances back on track through some tough decision-making and robust strategic planning," he said.
"Organisational changes are never easy for any business, so I thank Council staff for their adaptability as we take the necessary action against our savings plan."
Council also realised recurrent general fund savings of $51,398 this quarter, outlined in the quarterly report as:
- Reduced café hours and Sunday closures at the Shoalhaven Entertainment Centre.
- Revised opening times at the Sanctuary Point Library
- Efficiencies such as reduced cleaning and security operational costs across Swim Sport Fitness.
- Rental savings from consolidating staff office space.
Departments across Council also realised a reduction in internal costs this financial year by reviewing specific operational spends, which saved around $50,000. Overall, this brings the total recurrent general fund savings to $2.5 million.
The revised September budget for 2024-25 has projected that the initial forecast for the annual deficit in the General Fund of $31.7 million has been revised to $20.3 million as a result of improved projected interest income, salary savings and improved depreciation.
Read the Council report here. The next quarterly update reporting against January, February and March will be presented to Council in May 2025.
