Council get financial tick of approval from QTC

Noosa Council has been recognised for sound financial management with a positive credit rating from the Queensland Treasury Corporation (QTC). 

Council has retained its sound credit rating with a neutral outlook, reflecting the continued delivery of balanced operating results.  

Acting Director of Corporate Services Trent Grauf said the latest rating demonstrates council's strong track record of prudent and responsible financial management. 

“This positive result places us in a good position to weather the current uncertain and inflationary economic conditions, while having little impact on our capacity to meet our financial commitments and also ensure Council continues to maintain its service levels,” he said.

Council is currently finalising its budget for 2023-24 and seeking community feedback on its draft budget. Feedback can be made at yoursay.noosa.qld.gov.au before Sunday 4 June.

Mayor Clare Stewart said the result should give the community and business sector confidence about council’s financial stability. 

“The strong credit rating reflects council's goals of sustainability and continuing to enhance our liveability in the shire that attracts sustainable businesses,” she said. 

“Despite facing similar challenges to other councils, Noosa remains in a strong position due to its dedicated focus on responsible financial management.” 

Mr Grauf said the credit rating demonstrates council’s stable financial forecast, strong cash position supported by relatively low debt levels.