In a significant achievement for Kiama Council’s financial reform efforts, the NSW Audit Office has given the Council’s 2023-24 Financial Statements a clean bill of health, marking a major step forward in the Council’s journey toward financial stability and transparency.

Kiama Council CEO Jane Stroud lauded the accomplishment as a testament to the dedication of Council staff.​ Achieving this level of financial integrity is vital for lifting the NSW Government’s Performance Improvement Order, a mandate designed to guide the Council toward sustainable financial practices. “This result is a big step forward towards that goal​.” On a radio interview with Kiama Community Radio (KCR), newly elected Mayor Cameron McDonald stated that “Without meeting that order we essentially move into administration and means our elected officials cannot lead…as we are a voice of the community it would be catastrophic.” So it’s good news. 

Chief Financial Officer Olena Tulubinska, credited the finance team, as well as the NSW Audit Office and the Audit, Risk, and Improvement Committee, for their collaboration. “All Council staff can take credit for this result. We really pulled together to get our accounts back on track.” She also recognised contributions from other departments, including the engineering and maintenance teams, which assisted with essential stocktakes and inspections.

Over the past two years, the finance team has worked closely with auditors to complete four sets of financial statements, resolving longstanding issues that had previously resulted in qualified audit opinions. This year’s unqualified audit opinion reflects the Council’s significant progress and sets a solid foundation for continued improvements.

Following the endorsement of the financial statements at the council meeting, Mayor Cameron McDonald expressed his gratitude to Council staff for their role in helping new councillors understand the financial reforms in place. “We appreciate the work put in by Olena and her team explaining the financial reforms being implemented,” Mayor McDonald said. “It certainly was a great pleasure to sign off on the statements, and everyone involved should be very proud. It’s yet another strong signal to the NSW Government and our own community that Kiama Council is doing what needs to be done.”

The Financial Statements for 2023-24 show a $14.2 million loss, up from a $7.6 million loss in 2022-23. The increased deficit reflects a range of unavoidable costs, including:

- 15% pay increase for aged care workers ($1.8 million)

- 3.5% pay increase for staff under the Local Government Award ($2.8 million)

- Increased legal expenses ($1.4 million)

- Additional disaster recovery expenses ($1.5 million)

Mayor McDonald pointed out that despite these “one-off factors,” the Council is making steady progress toward a balanced budget by 2026-27, a critical target under the Performance Improvement Order. “We’ve taken a massive step forward with the unqualified audit, and we’re on track to improve our financial outlook,” he said. He credited previous Mayor Neill Reilly and his team to have set them on the right path. 

With this clean audit, Kiama Council’s leadership sees renewed confidence within the community and a reinforced commitment to responsible, transparent financial practices as they continue to strengthen the Council’s fiscal health.The audited accounts will be presented at the ordinary Council meeting on 20 November.