Gympie Regional Council’s operating loss in 2018-19 was actually $14.5 million according to its latest annual report.
Gympie Regional Council’s operating loss in 2018-19 was actually $14.5 million according to its latest annual report.

Council’s 2019 financial hole millions worse than thought

GYMPIE council's 2019 financial hole was worse than first thought, with new figures revealing it was more than $2 million more than reported last year.

The council's new annual report, expected to be adopted by councillors at today's meeting, revealed the organisation recorded a $14.5 million operational deficit in 2018-19.

This was $2.63 million more than the $11.99 million loss reported in that financial year's report.

The council’s operating results as listed in the draft of its latest annual report (in order from top: operating revenue; operating expenses; operating result; capital revenues; capital expenses; net result attributable to the council; asset revaluation in the period; and total comprehensive income for the period).
The council’s operating results as listed in the draft of its latest annual report (in order from top: operating revenue; operating expenses; operating result; capital revenues; capital expenses; net result attributable to the council; asset revaluation in the period; and total comprehensive income for the period).

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The cause of this was a jump in operating expenses from $101.6 million reported in 2018-19 to $104.19 million in the latest report, and resulted in the council recording a comprehensive loss of $19.68 million for 2018-19.

Figures from the 2018-19 annual report.
Figures from the 2018-19 annual report.

The revised numbers add to the council's financial pain, with this report identifying a $6.31 million operational loss across 2019-2020.

It is the third year in a row the council's operating costs have outstripped its income.

Gympie Times


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