Local News

Muswellbrook Shire Council delivers 2021/22 Budget with plenty of cash for projects

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Muswellbrook Shire Council's 2021/22 Budge was revealed to the community this morning. 

Council has a consolidated operating surplus (excluding the Future Fund) of $478,000,; a consolidated (excluding Future Fund) debt of $28 million; consolidated (excluding Future Fund) financial assets of $32 million and no net debt.

Muswellbrook Shire Mayor Martin Rush said it's a good looking budget.

"A number of new projects but in terms of the budget fundamentals its a half a million dollar operating surplus, the Future Fund which is a component of Council's operations increases its dividend from $3.2 million a year to $4 million a year and there are a whole range of new projects including the first tranche of money for the Regional Entertainment Conference Centre, the Town Square which is a project we announced late last year so it receives its first allocation of money,"

"The dividend of the Future Fund is now $4.1 million a year. That's more than the combined farming and business rates and its well on the way to overtaking the residential rate as a contribution to Council's finances."

"So it is a very important fund, it has a very important task and that is to make sure we are in a position to offset the mining rates if we need to into the future and provide a good solid base for the future of the community in terms of job creation," said Mayor Martin Rush. 

There's more than $51 million worth of projects included in the Budget including:

- Regional Entertainment Conference Centre - $6,434,000
- Yarrawa Road (sealing) - $4,800,000
- Muswellbrook Town Square - $3,804,615
- Donald Horne Building - $2,500,000
- New Council Works Depot - $2,200,000
- Olympic Park - $2,126,193
- Muswellbrook Youth Centre - $1,000,000
- Denman Heritage Village - $860,000
- Muswellbrook Acquatic Centre (substation) - $800,000
- Muswellbrook Town Centre Stage 7 - $750,000
- Denman Netball Courts - $600,000
- Other capital (recurrent roads, other General Fund recurrent capital, Future Fund capital and Muswellbrook Water recurrent capital) - $25,779,985 

Image credit: Grant Broadcasters/Jessica Rouse