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Central Coast council ....crooks of the highest or (Read 640 times)
Dnarever
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Re: Central Coast council ....crooks of the highest or
Reply #15 - Dec 4th, 2020 at 9:36pm
 
Baronvonrort wrote on Dec 3rd, 2020 at 8:02pm:
Valkie wrote on Dec 3rd, 2020 at 12:40pm:
BAD NEWS REPORT.

Quote:
    The sixth largest council in Australia, Central Coast Council, is in the grip of a financial crisis with a forecast budget blowout of more than $200 million and accrued debts of more than $565 million.

Key points:
Councillors, including the mayor, were suspended in October with the council on the brink of being unable to pay its 2,000 staff
Today's report reveals an operating loss for the past two years to be more than $200 million
The report confirmed its former CEO and CFO were aware of the use of restricted funds
A damning report detailing the findings of a 30-day investigation into the financially-stricken council, just north of Sydney, was released by newly-appointed administrator Dick Persson on Wednesday.

Thirteen councillors, including the mayor, were suspended in October when the council revealed it was facing an $89 million budget blowout and was on the brink of being unable to pay its 2,000 staff.

But the full extent of council's financial position has sent shockwaves through a community which will ultimately be forced to pay the price for what has been described as serious financial mismanagement and the unlawful use of millions in restricted funds.

"They don't expect to see things go from what seemed to be okay to what I'm calling the greatest financial calamity in the history of local government in New South Wales," Mr Persson said.

Debt continues to grow
Mr Persson's report details how the council went from a $65 million surplus to a $200 million deficit in four years.

The 10-page document reveals the Central Coast Council's operating loss for the current financial year is forecast to be about $115 million, on top of last year's known $89 million deficit.

While the investigation found no evidence of theft or corruption, the report confirmed the former chief executive officer, who was sacked just days ago, and the former chief financial officer were aware of the illegal use of restricted funds and allowed it to continue.

A man standing at microphones.
Interim administrator Dick Persson released the damning report on how council went from a $65 million surplus to a $200 million deficit in four years.(ABC Central Coast: Emma Simkin)
Mr Persson defended the elected councillors, to a point, by maintaining they could not have been expected to be aware of the unauthorised use of the restricted monies, particularly when it was not detailed in reports to council.

But he said they had ample powers to obtain any financial information they wanted, and by not doing so also "failed to perform one of their most important responsibilities".

The amalgamation of Gosford and Wyong councils to form Central Coast Council continues to be a divisive community issue with some ongoing calls for the entity to be de-amalgamated, and the latest financial crisis has fuelled that argument.

The administrator was adamant the council merger played only a small part in the council's "rapid financial decline".      


How can they say illegal use of money is not theft or corruption?

Labor mayor i guess that explains it. https://coastcommunitynews.com.au/central-coast/news/2020/11/goodbye-to-democrac...


My guess would be because they didn't steal it or use it corruptly.

Seems they spent money on legitimate council business that they were not entitled to spend.  Seems that they paid for things out of the wrong bucket ($7 Million) and it has been administratively returned from the correct bucket.
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Auggie
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Re: Central Coast council ....crooks of the highest or
Reply #16 - Dec 4th, 2020 at 9:55pm
 
Valkie wrote on Dec 3rd, 2020 at 9:16am:
Well, they have done it again.
Close to 600 million in debt.
The ccc is well known for corrupt councilers and politicians, but this is a new low.
Sacked, again, they now plan to recoup their financial mismanagement/corruption by increasing rates.
Already one of the highest rates in Australia, here we go again.


Blame the NSW government - they can easily fix it throwing them in jail.
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