29 July 2008
The financial strength of Strathfield Council has again been recognised, after a report into the financial sustainability of Council’s in NSW was released today.
The report by financial analyst Fiscal Star stated that Strathfield was one of 43 Councils in the State that was financially sustainable, thanks to the equal strongest “spare cash ratio” of 38 per cent in the Inner Metropolitan area and its overall financial prudence.
In the Inner West, Strathfield was one of only two Councils identified as being financially sustainable.
This is the second report released by Fiscal Star into the financial health of Councils in NSW. The first report, which was released in October last year, again identified Strathfield as a financially sustainable Council.
Mayor of Strathfield, Paul Barron said: “This report confirms that Council’s practice of sound financial and asset management will ensure Council continues to be financially sustainable into the future,” he said.
“Along with a strong ‘spare cash ratio’, Strathfield’s ability to service the community, as well as provide and maintain facilities were also identified as a key strength in the report.”
“This is why Council is able to deliver key capital projects, such as the Strathfield South Community and Library Centre, for the benefit of our community, without placing any extra burden on our ratepayers.”
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