Fiona Conlon
Fiona Conlon
Fiona Conlon
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Findings - Income• Water Rates• Income had been too low for years• Changing Water Tariff (-$1.0M), new tariff concessions ( -$1.0M)• Increasing Water Usage charges resulted in reduced waterconsumption and reduced income (-$0.6M)• Development Income• Straight line, “high growth” unrealistic growth rate used for years• down from $3.7M in 2004/05 to $1.0M in 2008/9 and projectedto be only $0.7M in 2009/10• More debt and less interest• a new $12m loan and had lost $1.6M reserves interest.• No more State Government Subsidies