Colac Otway Shire Council was formed in September 1994.

Until 2002, when I first elected, Council debt had increased almost continuously since Colac Otway Shire Council was formed in September 1994.  Council debt peaked at $6.779 million at 30/6/2000.  It was during my first term, 2002 – 2004, that Council first implemented a debt reductionContinue reading

High levels of debt are damaging whether at the National level – consider the problems of Greece and the USA, a personal level or a local Council.  Some may recall the problems that Surf Coast experienced some years ago when accumulated debt reached unsustainably high levels.  Property rates charged by Surf Coast increased by around 20% duringContinue reading

It is important that the Council minimises borrowings to decrease the interest costs and to make the Council more resilient to financial shocks.  Rural Councils, such as Colac Otway Shire, operate on tight budgets and increased borrowings generally require higher rates to fund the debt repayments.  Ironically, under the "prudential" rules,Continue reading