BY ALICE PEART
Newcastle City Council announced the 2019-20 budget today which forecasts a surplus of $11.95 million.
Although the budget represents the sixth consecutive surplus for Newcastle, this will be the first in a decade which does not rely on reserve funds.
Speaking to 2NURFM today Lord Mayor Nuatali Nelmes said financial sustainability had been a particular focus of council over the past five years resulting in significant reserve funds now saved for future works in the city.
Forty per cent of works in the budget have been committed to environmental initiatives including the continuation of coastal revitalisation, improving recreational parks and new waste facilities.
These investments represent the single largest investment ever for environmental sustainability in Newcastle.
The Lord Mayor said of particular interest for her was the $12.35 million earmarked for an Organics Recycling Facility and another $6 million for a Recycling Recovery Center.
The draft budget is now available to view on the City Council’s website.