QTC says outlook 'positive' for Noosa Council

A Queensland Treasury Corporation credit review has found Noosa Council’s financial health to be ‘sound’ and its future financial outlook ‘positive’.

Noosa Council CEO Brett de Chastel today welcomed the result as a strong endorsement of Council’s prudent financial management.

“This is an excellent result, especially considering we’re a new council and we’ve had only a short period of time to establish our financial systems,” Mr de Chastel said.

The ‘sound’ rating reflects positive budget performance, forecast operating surpluses, low borrowings and Council’s zero-based budgeting approach.

“QTC’s original financial assessment in 2012, prior to de-amalgamation, gave the proposed Noosa Council a moderate rating with a neutral outlook,” Mr de Chastel said.

“On a scale of 1 to 7, we have already gone from a 4 (moderate) to a 5 (sound)”.

“Our new council is in stronger financial shape than originally predicted and while we are confident we are on the right track, having an independent body like the Queensland Treasury Corporation confirm this, is excellent.”

Mr de Chastel said Council was well positioned to improve its credit review rating further in future.

2 June 2015