I refer to Cr Les Larke’s letter to the SGST on December 10, 2019, expressing his concern on the Bass Coast Shire Council (BCSC) operating results over the past seven years rather than the bigger picture.
To quote the ‘Financial Snapshot’ from the BSCS Chief Financial Officer’s Message page from the 2018-19 Annual Report:
“Council focuses on three (3) key areas of financial performance as a guide to our overall position from a sustainability perspective.
These three (3) areas are:
• Our operating and underlying results
• The renewal or replacement of our existing assets
• Our cash holdings.”
I would like to bring to the community’s attention that our cash holdings and equivalents in the past seven years has grown from $24.31 million to $51.34 million and our working capital ratio of 1.73:1 at June 30, 2019. These numbers are wonderful.
But Cr Les Larke needs to offer solutions to resolve our backlog of over $600 million in infrastructure issues rather than continually carping on about operating results.
One solution to fix the infrastructure issues is to manage our cash holdings better by introducing a 12-month rolling cashflow.
Another solution is to increase rates. But would this make it fairer for those in town who effectively subsidise the holiday homes of others?
The simplest, and fairest solution for everyone in our community, is to review the rating structure of the various types of property in the Bass Coast.
What are Cr Les Larke’s solutions?
Frank and Mary Schooneveldt, Wonthaggi.