The Waverley Liberals Mayoralty 2012-17 left Council in an excellent financial position. Four years on and Waverley’s financial future is now at stake with reserves dropping.
Council’s Reserves are designed to provide security and opportunity for significant urgent projects as yet unfunded, such as improvements to systems, staff accommodation and major road infrastructure.
But this is now at risk as not only has Labor overspent, they’ve looted our Long-Term Reserves, to the extent that funds may be precarious in FY23/24. Interestingly, Council’s Internal Audit Committee have repeatedly asked for a detailed analysis and use of Council’s Reserves.
Labor’s bad financial management led to a rate rise in 2011. The Waverley Liberals will not burden residents and ratepayers with yet another rate rise. Instead, we will bring back stable and responsible management of Council Budgets to meet community expectations.