Part of Corangamite Shire Council's $2.9 million surplus will be used to deliver its 2023-24 capital works program amid challenges in the construction industry.
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The council has recorded a $2,932,707 surplus for its 2022-23 financial year, stemming from investment income from interest rates and managed funds, additional customers through landfill and savings on wages through vacant positions.
Councillors at a monthly meeting on Tuesday, August 22, unanimously voted to assign half-a-million dollars of that surplus to help deliver next year's capital works program.
Councillors also voted to carry forward $37 million due to incomplete projects, six of which represent $21.1 million of the amount.
Those projects included the Port Campbell Streetscape ($10.5m), Twelve Apostles Trail ($6.8m), Unlocking Housing Supply projects at Simpson and Timboon ($1.3m), Landfill Restoration ($0.9m), Heavy Plant Replacement ($0.7m) and a capital cost buffer ($0.8m).
South-central ward councillor Jo Beard said the large carry forward amount was both "healthy and unhealthy".
"It's not like it's money that's just sitting there, a lot of it is timing and the ability to deliver the workload, we shouldn't be too disappointed about carry forwards (and) we can look at in a positive light," she said.
"It's a reflection of the organisation and the challenges we like every other organisation out in society are facing around being able to deliver significant projects for whatever reason that's been.
"We've had so many silver linings because of COVID but also challenges as well like being able to deliver the workload we've had.
"...The fact we're identifying that we're going to support getting those works done is a testament to this organisation."
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