!['Fairly tumultuous year': Council now in sound financial position 'Fairly tumultuous year': Council now in sound financial position](/images/transform/v1/crop/frm/nB9BrLNgExsfwsLgDBevWP/431367c7-49b4-4889-a65a-c8256c4c91fd.JPG/r0_378_4032_2646_w1200_h678_fmax.jpg)
Warrnambool City is in a "sound financial position" after a "fairly tumultuous year", councillors say.
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In adopting its 2022-23 annual report at the council meeting on Monday, October 2, mayor Debbie Arnott said the work of council provided value for money.
Cr Arnott said the council was in a "sound financial position" with revenue up from $93.3 million to $106.3 million.
"We have cash and investments of $48.3 million - up from $37.8 million last year," she said.
"Our borrowings have reduced by $300,000 and we recorded an income statement surplus of $19.05 million.
"When you consider that for all the taxes paid about 3.5 per cent goes to local government and so I believe we do provide value for money."
But Cr Arnott said the council couldn't do what it did without ideas, inspiration and feedback from the community.
She said planning for the 2024-25 financial year would start in November/December, and the council would soon begin engaging with the community about what its priorities should be and how the budget could best deliver for the community.
Cr Richard Ziegeler said the report reflected a fairly tumultuous year, but Warrnambool was also in a healthy position socially and financially.
"...there was some good bits and bad bits right throughout the year," he said.
But Cr Ziegeler said the year had been overshadowed by particularly good bits such as the new playspace at Lake Pertobe, Edwards Bridge replacement and record attendance figures at the Lighthouse Theatre.
Cr Angie Paspaliaris said it was impressive patronage at the city's aquatic centre had significantly increased in the past year.
"I think this further demonstrates a very strong need to plan an upgrade for an ageing and outdated facility," she said.
Cr Paspaliaris said the council had started its aquatic strategy which was due to be completed in the 2023-24 financial year.
She said the steep increase in cost of materials and ongoing labour shortages also continued to take a toll on council's capital works costs.
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