Redland City Council has released its latest Monthly Financial Report, showing the organisation is generally tracking favourably against key performance targets at the end of May and remains in a well-managed position ahead of the new financial year.
The report, which was noted at this week’s General Meeting of Council, also demonstrates the significant progress that has been made towards achieving the $23 million savings, efficiencies and deferrals target set in the 2025–2026 budget.
Without this strong financial management, the forecast deficit would be much higher.
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Acting Mayor Julie Talty said these results were being achieved despite a range of economic challenges and cost pressures weighing heavily on the organisation’s budget.
“The latest update shows that, across the key measures for financial sustainability, Council is continuing to either achieve or exceed most of its targets,” Cr Talty said.
“Council’s total cash and investments balance was more than $343 million at the end of May, which is ahead of the year-to-date budget and means the organisation has strong cash reserves heading into the new financial year, along with low levels of debt.
“Capital expenditure for the current financial year reached $82.19 million at the end of May, noting this figure remains lower than budgeted largely due to ongoing supply chain disruptions and wet weather impacting project timelines.
“Despite these challenges, Council is continuing to deliver a range of important capital works across the city through the current budget, including rehabilitation works at Judy Holt Park in Birkdale and funding towards new recreational boating facilities at Redland Bay.
“Council will continue to monitor project progress to determine whether funds for capital projects will need to be carried over into the 2026–2027 financial year.”
Finance portfolio representative Councillor Wendy Boglary said Council was working hard to find efficiencies in these challenging times.
“As Council works through the recent service and efficiency review, I’m hoping savings of resources, time and funds are found,” Cr Boglary said.
