{"id":3992,"date":"2019-10-23T07:17:40","date_gmt":"2019-10-23T07:17:40","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=3992"},"modified":"2019-10-23T07:17:40","modified_gmt":"2019-10-23T07:17:40","slug":"city-returns-another-surplus","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2019\/10\/23\/city-returns-another-surplus\/","title":{"rendered":"City returns another surplus"},"content":{"rendered":"<p>City of Newcastle has returned a sixth consecutive annual operating surplus.<br \/>\nAudited financial statements endorsed by Council tonight show City of Newcastle delivered a budget surplus of $9.4 million for the year 2018\/19.<br \/>\nThe financial statements also show the City registered operational income of $336.3 million and total operating expenses of $295.9 million.<br \/>\n\u201cCity of Newcastle continues on the path of financial sustainability, delivering a sixth consecutive budget surplus,\u201d Lord Mayor Nuatali Nelmes said.<br \/>\n\u201cThis compares favourably to a growing trend of budget deficits in local government and demonstrates that the City has the capacity to respond to rising service expectations and unforeseen events.<br \/>\n\u201cDevelopment and investment activity remain strong in Newcastle, with the total value of building approvals again topping $1 billion in 2018\/19.<br \/>\n\u201cOur record $91.6 million capital works program for 2018\/19 is contributing to this growth, as we maintain heritage assets while revitalising and re-inventing our city.<br \/>\n\u201cThe works program delivered projects including popular playgrounds at Blackbutt\u2019s Richley Reserve and the South Stockton Active Hub, plus upgrades to our local centres at Carrington and Beresfield.<br \/>\n\u201cMeanwhile, tourism and visitation are at record numbers, bolstered by the success of the Newcastle 500 and growth in a wide range of events spanning sport, music, art and culture &#8211; many of which are supported by CN sponsorships and grants.<br \/>\n\u201cFrom landmark infrastructure projects to local centre upgrades and flood mitigation works in Wallsend, we&#8217;re improving the amenity, safety and sense of community right across the city.\u201d<br \/>\nCEO Jeremy Bath said the City had met or exceeded all six financial performance ratios set by the NSW Office of Local Government (OLG).<br \/>\n\u201cThese benchmarks are a measure of financial sustainability and highlight the robust financial health of the City of Newcastle,\u201d he said.<br \/>\n&#8220;The figures show ratepayers can be confident that we will continue to deliver high-quality services and projects in a financially responsible way,\u201d he said.<br \/>\nThe OLG manages a website that rate payers can use to track how their Council is faring compared to other local governments\u00a0<a href=\"https:\/\/yourcouncil.nsw.gov.au\/council-data\/newcastle-1560307491\/\" target=\"_blank\" rel=\"noopener\">https:\/\/yourcouncil.nsw.gov.au\/council-data\/newcastle-1560307491\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>City of Newcastle has returned a sixth consecutive annual operating surplus. Audited financial statements endorsed by Council tonight show City of Newcastle delivered a budget surplus of $9.4 million for the year 2018\/19. The financial statements also show the City registered operational income of $336.3 million and total operating expenses of $295.9 million. \u201cCity of &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2019\/10\/23\/city-returns-another-surplus\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;City returns another surplus&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3992","post","type-post","status-publish","format-standard","hentry","category-newcastle"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/3992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=3992"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/3992\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=3992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=3992"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=3992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}