Cowra Council's financial position has been described as strong and resilient, after an independent audit confirms that Council maintains a net operating surplus for the 2019-2020 financial year.
Independent auditors, Intentus Chartered Accountants representing the Audit Office of NSW presented the annual Financial Statements Review at Council's monthly meeting earlier in November.
In presenting her report to Councillors, Ms Leanne Smith was positive about Council's financial management over the financial year ending June 30, 2020.
Ms Smith advised Councillors that the Council had done an excellent job increasing their assets and maintain a strong net operating surplus as they commence the 2020-2021 financial year.
"It has been a tough year for our shire as we tackled the consequences of drought and COVID-19 but Council has demonstrated during the turmoil in the industry that we are financially sustainable and responsible and have the ability to maintain the performance benchmarks set by the Office of Local Government," General Manger, Paul Devery said.
Mayor of Cowra, Cr Bill West said that the results showed Council's continual commitment to acting responsibly in managing its finances which was reflected in their long-term planning and financial reliability.
"This is a very positive outcome for Council. The financial performance over the coming years will continue to be closely monitored to ensure the services and facilities for our residents are maintained and improved into the future as we strive to grow," Cr West said.