Cyclone Marcia makes dent in Livingstone Council's budget
AS WELL as leaving her mark on the Capricorn Coast, Cyclone Marcia left a dint in Livingstone Shire Council's finances.
Earlier this month, Livingstone Shire Council adopted its 2014/15 annual report, which detailed its financial position as at June 30, 2015.
The recovery from Marcia accounted for "significant expenditure" during the period.
"Whilst great progress has been made, recovery efforts are ongoing and have directly impacted upon the financial performance and financial position of council during the 2014-15 financial year," the council's annual report stated.
In the 2014-15 financial year, Livingstone's income totalled approximately $99.8 million.
The council reported assets totalling approximately $857 million and liabilities totalling $96.4 million, 75% of which are borrowings from the Queensland Treasury Corporation.
Livingstone Shire CEO Justin Commons said the region had made "significant progress" on several major infrastructure projects after securing more than $55 million in funding from the State and Federal governments in the 18 months since de-amalgamation.
"These include the revitalisation of the Yeppoon and Emu Park foreshores, Barmaryee Multi Sports Complex, Gateway Business and Industry Park and Panorama Dve northern link road," he said.