Savings fund new projects

The first quarterly budget review of the 16/17 financial year has resulted in over $800,000 of new projects being funded as well as a surplus of $300,000 being carried forward.

A contribution to planning works for the Dampier Marina, the next stage of the Searipple foreshore works and an upgrade to the Moonrise Cinema screen are some of the projects that will be brought forward thanks to the savings achieved.

An Economic Development Reserve was also established by Council to put aside funds for projects that enhance the local economy of the City.

City of Karratha Mayor Peter Long said Council had rigorous budget processes which enabled savings to be identified and reallocated to new projects.

“There are some very worthy projects that will now be completed in the current financial year thanks to these savings,” Cr Long said.

“The Searipple Foreshore in particular is a project that the community has had an overwhelmingly positive response to so it’s great that we can get on with the next two stages with these funds,” he said.

“Establishing an Economic Development Reserve will also help Council to fund projects that will deliver a strong return on investment through increased business activity in the City,

“That might be through a direct investment in a project or through marketing Karratha as a place to visit or do business.”

Council conducts a budget review at the end of every quarter, with the next budget review due in February.