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Newcastle Herald
Newcastle Herald
National
Madeline Link

INSANE: Modest surplus as newcastle council balances its books | Vintage Vibes

Newcastle Council Newcastle CN City of Newcastle Jeremy Bath Charlotte McCabe PwC
City of Newcastle chief executive Jeremy Bath. Picture by Marina Neil

CITY of Newcastle has balanced its books with a "modest" operating surplus of $4.2 million, down $3.9 million from what it had budgeted for.

While the council exceeded six key financial performance ratios set by the NSW Office of Local Government (OLG), it failed to meet benchmarks around building and infrastructure renewals, infrastructure backlog, and asset management.

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