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Green lights for Somerset financial management

Somerset Regional Council has received 100% green lights from the Queensland Audit Office (QAO) for its financial management in 2020/2021.

Published: 15th October 2021

 

Somerset Regional Council has received 100% green lights from the Queensland Audit Office (QAO) for its financial management in 2020/2021.

Mayor Graeme Lehmann said, “Over the past year we have worked hard to bring our operating position back into the black while maintaining affordable rates and effective services.”

“We are serious about our responsibility to ratepayers with public money.”

“We are also open and transparent about our finances, and we are pleased to publish our audited financials on our website today.”

“The audit was conducted by PricewaterhouseCoopers - one of the big four global accounting firms - under contract to the QAO.”

“Our total transactions were up more than 18% for the year to around $125 million and it was great to see the positive comments from the audit about how we managed our financial risks given how busy we have been.”

“The audit also reported favourably on Somerset’s financial sustainability which is gratefully received. QAO previously found that 70% of Queensland councils were spending more than they were earning.”

“This Council is proud of its excellent track record in being able to deliver infrastructure and secure funding for infrastructure that will help develop our area for decades to come,” Cr Lehmann said.

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