LOGAN City Council has become the only council in south east Queensland to receive a low risk assessment from the Queensland Audit Office.
The city of Logan is the fifth largest council in Australia and has one of the largest budgets - this year its budget is $755 million.
In its recent report to Parliament on the results of local government audits, the QAO has assessed Logan City Council as having a lower risk of financial sustainability concerns based on current income, expenditure, asset investment and debt financing policies.
This is an improvement for Logan City Council from the moderate risk assessment allocated in last year's audit report of local government entities and is a better result than Brisbane, Gold Coast, Ipswich and Redland councils which all have moderate risk assessments.
Additionally, for its overall assessment of council financial governance, QAO has given Logan City Council the highest possible rating in each of the categories.
City treasurer Trevina Schwarz said it was an exceptional result which revealed that council was spending its residents’ money wisely.
