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Council in Strong Position with Almost $235m in Bank


Date Time
Council in Strong Position with Almost $235m in Bank
Council’s investments help pay for major capital projects such as the completed $250m Sewerage Strategy
Coffs Harbour City Council’s Bank Balances and Investments totalled $234,918,345 at 31 March 2021 – an increase of $8,220,321 on the same time last year.
“Despite the global economic impact of COVID-19 and record low interest rates, the investment strategy that we are pursuing continues to provide good returns on the funds we have available to support major capital projects for the community,” said Andrew Beswick, Council’s General Manager (Acting).
“Councils make investments to pay off the loan borrowing costs required to build large capital projects like the Wiigulga Sports Complex, the Cultural and Civic Space, water and sewer infrastructure, large road projects and bridges. ....

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