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Friday
Dec102010

Development Contributions

For the entire 36 months I was on Council, the only consistent defect of the Financial Reports was that the Development Contributions were under budget on each and every occasion they were presented.

Believe it or not, the last set of accounts presented to the new Council on 8 December contains the staggering statement that DC's are again short, by $259,000, or 58% on budget, and the explanation is "that we will be in a very uncertain environment for at least two more years". You have to wonder about the learning environment. Fortunately this consistent shortfall was offset by regular over-collections in other revenue streams.

It is perhaps significant to note that DC Sundry Debtors have jumped from $134,000 to $501,000 in twelve months. It goes without saying that developers, and the money they owe should be watched very carefully. TCDC has generally been pretty good with collections, but complacency is contagious. I trust that at least one new Councillor will continue to watch DC's, and question any further untoward  growth in DC sundry debtors.

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