Debt-free and financially sound: The Hills Council gets the good news

Golden fields: Council generated $40million from the sale of 83 single residential lots and eight medium density sites here, at Grey Gum Estate on Withers Road, Kellyville. Picture: Helen Nezdropa

Golden fields: Council generated $40million from the sale of 83 single residential lots and eight medium density sites here, at Grey Gum Estate on Withers Road, Kellyville. Picture: Helen Nezdropa

The Hills Council will have its infrastructure backlog (excluding stormwater) completely cleared by June 2015, new analysis by the NSW Treasury Corporation has shown.

The analysis by TCorp, the central financing agency for the NSW public sector, reveals council’s financial status has been upgraded from sound to strong, with a neutral forecast indicating it would maintain that rating for at least three years.

The council is also forecast to operate at a surplus for at least the next 10 years, excluding all capital grants and contributions.

Mayor Michelle Byrne said the council had ‘‘come a long way from being on the brink of insolvency 20 years ago, to now being one of the strongest local government areas in the state’’.

Cr Byrne said her council was one of the biggest spenders on roads and footpaths, as reflected in its strong asset management rating.

“We strive to do our best to look after our roads, footpaths, parks, reserves and facilities while living within our means,’’ she said.

‘‘We are custodians of ratepayer’s assets and money, so we scrutinise how we spend and that’s exactly what the community would expect of us.

“Property development like the recent sale of [the council-owned] Grey Gum estate [at Kellyville] have generated a lot of revenue that will, in turn, be invested into The Sydney Hills community.

‘‘We don’t rely on parking meters and parking fines to boost our finances.’’

A total of $40 million was generated from the sale of 83 single residential lots and eight medium-density sites at the estate on Withers Road.

“This [position] is the result of the work of Hills councillors and staff, past and present, and I want to thank them for their wonderful service over the years,’’ Cr Bryne said.

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