News

Capital works commitment

By Cobram Courier

Moira Shire presented its quarterly budget review in Yarrawonga on Wednesday, at which it was announced council was committed to implementing a $21million capital works program, the largest in council’s history.

Corporate general manager and chief financial officer Simon Rennie said in over the next four years, council had budgeted a further $71.2million in capital works.

Mr Rennie addressed concerns of community residents who felt not enough capital was actually being spent.

‘‘There have been some concerns noted by members of the community about our cash reserves and council has committed the vast majority of these funds to the implementation of various projects, which can be found in the strategic resource plan,’’ he said.

‘‘It should be noted that the revenue stream in the profit and loss statement contains state and federal grants.

‘‘Many times these funds are received in advance of the specific projects they have been allocated for; the expenditure for these projects can be found in our capital works budget on our website.

‘‘Despite the constrained rate capping environment of 2.25 per cent, this fiscally responsible budget supports the timely delivery of our council plan priorities — a great place to live; a thriving local economy; a clean green environment; and a well-run council.’’