On Friday, 25 October 2013 at 3:12 PM the City of Greater Geelong released the “FINANCIAL SUSTAINABILITY REVIEW AUGUST 2013”. The review was conducted by CT Management Group (CTMG).
Overall council performed average or better than average when compared to Councils of a similar size.
One area where council stood out in its ability to attract recurrent grants to various services and functions it manages.
The review pointed out that “under performing assets have the potential to place considerable demand on Council’s Budget and should be reviewed through service planning processes”. “In overall terms CTMG believe there are one off capital savings available between $27M and $56M, with projected recurrent savings per annum between $2.4M and $6.7M”. The review did not refer to specific assets.
The review cautiously referred to council’s controversial 7.2 million dollar per anum ward funding allocation. “The current Community Priorities process at COGG should be supported by Council Policy and Guidelines that manage the distribution of funding with a consistent approach that generates high levels of Community engagement”.
Concluding; CTMG having modeled their results in their Long Term Financial Plan, looks forward to reviewing these (plans) with Council and Management. They also look forward to assisting Council as part of this continuous improvement program to facilitate enhanced organisational capability and performance.