Selling assets and being more efficient were among the recommendations made by Newcastle Council’s Financial Advisory Panel last night.
The Lord Mayor told NBN News today, “We have over 650 properties some in quite disrepair, the backlog of infrastructure repair needs a lot of money, we need to sell about $60-million worth of property in order to fix the backlog and reduce debt.”
Made up of four local businessmen, the panel found there’s insufficient income to upgrade assets, and that competitive tendering is needed to compare council costs with private enterprise.
But some councillors and unions fear that could lead to more job losses.
Council was also told only 41 submissions have been made on the city’s draft budget, which will be voted on next week.
(******)
