Willoughby City Council has strengthened its financial recovery from COVID impacts upon its revenue, which have totalled $14m over the past 15 months.
The Quarterly Budget Review Statement for the March quarter 2020/21 was presented to Council on Monday night.
Council’s 2020/21 budget anticipated a deficit of $3m. Through careful financial management, that deficit has been reduced to $0.9m with Council aiming for a balanced budget now at 30 June 2021.
Council has adapted to a rapidly changing environment, continuing to deliver services and focussing on reducing variable costs, saving $7.2 million in the process.
“Council is now in a sound and sustainable financial position and can continue to meet our obligations now and into the future,” said Mayor Gail Giles-Gidney.