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Newcastle Herald
Newcastle Herald
National
Damon Cronshaw

'A surplus:' council finances revealed

The City of Newcastle spent a record amount on infrastructure in 2022/23. Picture by Simone De Peak

A record $118 million was spent on infrastructure projects across the City of Newcastle last financial year, as the council achieved an $8 million surplus.

The figures were revealed in the council's draft 2022-23 financial statements to be tabled at a council meeting on Tuesday.

The spending included about $12 million on road resurfacing, $11 million on pools and aquatic facilities and $3 million on coast, estuary and wetland projects, including Stockton erosion management.

The statements showed the council spent $97 million on salaries and wages in 2022/23, rising 4 per cent from $93 million the previous year. The council's total operating income was about $405 million.

The council also spent $1.4 million on "employee termination costs", up from $640,000 the previous year.

A surplus of $7.8 million was recorded in 2022/23, compared to a deficit of $12.5 million the previous year.

The budget for this financial year "continues this commitment towards financial sustainability with a forecast surplus of $6.9m".

City of Newcastle CEO Jeremy Bath said the council had "delivered on his promise to return to a modest operating surplus, without compromising its service levels or community commitments".

Mr Bath said the infrastructure program helped to "stimulate the local economy" and create new jobs, while "overcoming inflationary pressures".

Newcastle Lord Mayor Nuatali Nelmes said the result "reflected prudent financial management".

User fees and charges increased by about $17 million, with "the main drivers being increased function and ticketing income, parking meter revenue and the operations at Newcastle Airport".

Cr Nelmes said the financial statements confirm ongoing support for people "facing hardship", including "direct investment in new social housing".

The council was "proud" of new parks and sporting infrastructure such as Wallsend Active Hub.

It vowed to continue projects like "the revitalisation of Bathers Way, Newcastle Ocean Baths and Newcastle Art Gallery's expansion".

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