Full list: Gympie Regional Council opens the 2021 books

A staggering jump in the value of council assets, how much more they made from rates this year, and whether or not they are in the red or the black are among the big reveals in the annual report to be presented on Monday morning. SUBSCRIBE for all the details.

Gympie Regional Council finished the 2020-21 financial year with a small operating surplus of $50,000, haing spent more than $100m in keeping the region running.

Gympie Regional Council has broken even for the first time in four years but a staggering nine -figure jump in the value of its community assets has been revealed as the biggest surprise on its books this year.

The council’s latest annual report, to be presented to councillors for adoption on Monday, December 13, reveals the council’s assets were revalued to $1.4billion in 2021 - up $358million on the 2020 valuation of $1.1billion.

Council financial services director David Lewis attributed the jump to a rise in the value of Gympie roads, bridges and drainage infrastructure.

These had not been comprehensively revalued since 2016, Mr Lewis said.

Part of the 2021 revaluation was changing rates for the assets “to reflect the current economic conditions”.

The shift in wealth was joined on the 2020-21 books by a $50,000 operating surplus.

This was the first time since the 2016-17 financial year the council’s operating revenue exceeded what was spent.

Ratepayers forked out more than $81.2million to help run the region in 2020-21.

For the past three years the council recorded deficits of between $4.3m and $14.5m.

In this past financial year it dragged in $100.2m in revenue, primarily on the back of $81.2m from ratepayers in the form of rates and utility charges (compared to $78.2m in 2020, and $72.8m in 2019).

In comparison, the council spent $100.16m running the region, $4m less than in 2019.

Spending on capital works, including parks roads and buildings, was $31.2m.

This was the lowest in five years, and more than $15m below what was spent in 2017 and 2018.

The amount paid to consultants was up across the year from $2m to $2.4m but the final bill for materials and services was down from $39.8m to $38.7m

This was due to less spending on items including legal fees, insurance, and fuel and oil.

The amount spent on donations, grants and sponsorships was halved from $1.5m in 2020 to $785,000 in 2021.