{"id":35630,"date":"2025-10-26T17:43:55","date_gmt":"2025-10-26T06:43:55","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=35630"},"modified":"2025-10-26T17:43:55","modified_gmt":"2025-10-26T06:43:55","slug":"city-of-newcastle-balances-budget-surplus-with-record-infrastructure-spend","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2025\/10\/26\/city-of-newcastle-balances-budget-surplus-with-record-infrastructure-spend\/","title":{"rendered":"City of Newcastle balances budget surplus with record infrastructure spend"},"content":{"rendered":"\n

City of Newcastle has further cemented its position as the Hunter\u2019s most financially sustainable council. <\/p>\n\n\n\n

Draft audited financial statements for 2024\/25 reveal City of Newcastle returned a modest budget surplus of $8.7 million while delivering a record $164.1 million in infrastructure for any regional council in NSW.  <\/p>\n\n\n\n

It is the city\u2019s third consecutive surplus and ninth in the past 12 years. The only years City of Newcastle has not delivered a budget surplus was for three consecutive years when the Council ran deliberate deficit budgets to supercharge the local economy during the pandemic. <\/p>\n\n\n\n

CEO Jeremy Bath said City of Newcastle continued to build on its legacy of prudent economic management. <\/p>\n\n\n\n

\u201cMaintaining financial sustainability while balancing the needs and expectations of our growing community remains a key driver for City of Newcastle,\u201d Mr Bath said. <\/p>\n\n\n\n

\u201cThis legacy is what has allowed us to deliver a record capital works program, renewing and maintaining our older assets while delivering essential community infrastructure and undertaking once-in-a-generation projects such as the upgrades to South Newcastle Beach and the Bathers Way. <\/p>\n\n\n\n

\u201cCity-shaping projects formed a key part of the infrastructure program last financial year, including $34.9 million on the Newcastle Art Gallery expansion and $14.4 million for remediation of the former Astra Street landfill site in Shortland to maintain the local protected environment. I look forward to sharing our vision next year with regard to how we are going to make the most of this site for the coming decades. <\/p>\n\n\n\n

\u201cAdditionally, our financial statements for 2024\/25 have exceeded every financial key performance benchmark set by the Office of Local Government, once again demonstrating the city\u2019s fiscal responsibility and effective management.” <\/p>\n\n\n\n

Other highlights of the 2024\/25 infrastructure program include:  <\/p>\n\n\n\n