Wakefield’s ESCOSA report released
THE Essential Services Commission of South Australia (ESCOSA) has released its latest and final tranche of Financial Advice to Local Government recognising Wakefield Regional Council as ‘mostly sustainable’.
Wakefield was included in tranche four of the scheme alongside 19 of the state’s 68 Councils.
The Local Government Advice Scheme is administered by ESCOSA and came into operation in 2022 with amendments to the Local Government Act 1999 (the Act).
The aim of the Scheme is to provide independent, risk-based advice to assist councils when making long-term financial and investment decisions for the benefit of ratepayers.
ESCOSA makes findings that Councils are sustainable, mostly sustainable or unsustainable/potentially unstainable.
In this tranche of the scheme ESCOSA found that Council was ‘mostly sustainable’ across the past 10 years, currently and projected.
Mayor Rodney Reid said ESCOSA has recognised Council’s sound practices in both its strategic planning and asset management.
“Our asset renewal and replacement program, monitoring of strategic planning targets and our regular updates of our infrastructure, asset management and capital spending plans were all looked at favourably,” Mayor Reid said.
“To further strengthen Council’s sustainability ESCOSA made four recommendations for Council to review, ensure and prioritise, Council will take these on board to work towards a full ‘sustainable rating’.
“The advice ESCOSA presented will help guide future planning and highlight any areas where Council needs to dedicate more time or funding.
“Recognition as ‘mostly sustainable’ is welcomed by Council and gives us confidence in our plans and strategies as we follow our Wakefield 2030 Community Plan and our Long-Term Financial Plan,” Mayor Reid said.
The full ESCOSA report can be viewed on their website: escosa.sa.gov.au