The City of Ryde Council has received the highest rating of “Sustainable” for its financial framework from FiscalStar Services, an independent local government ratings agency.
Acknowledging this endorsement, Mayor, Clr Ivan Petch, said it is understood that the City of Ryde’s future assessment will be at the top 5 Star level, which is in stark contrast to a 1 Star rating just four years ago. “This independent rating is confirmation of excellent decision making and financial management by this Council.
“The “Sustainable” rating level puts us in the top group of financially viable councils in NSW.
“It is indeed further evidence and testimony that our existing policies of holding down expenses, addressing long term asset management of our $2.3 billion of infrastructure, while implementing innovative revenue raising, and at the same time keeping our residential rates at the lowest for comparable sized councils, are all positive outcomes for the city.
“This independent recognition sends a strong message to the community that this Council has both the expertise and vision to confidently manage the financial health and stability of this city to provide adequate services and facilities for our residents.
“The challenge of maintaining and replacing our ageing infrastructure will continue but it is good to know we have a sound base to move forward on,” Clr Petch said.
FiscalStar’s analysis is undertaken using publicly-available council data. Ratings are published for the 100 largest councils in NSW. They provide an independent perspective on a council’s present financial and infrastructure conditions. FiscalStar’s full report can be view on www.fiscalstar.com.au
Media contact: Lee Kirkland 9952 8083
