It's hit 'em when they're down time at Fiscal Star

On Tuesday Fiscal Star released its May 2009 report on local government sustainability.

NSW North Coast councils Ballina Shire, Byron Shire, Coffs Harbour City, Richmond Valley, Tweed Shire, Lismore City, Clarence Valley, Belligen are all listed as 'unsustainable'.

This is the definition of sustainability used; "A council's existing policies are assessed as financially 'sustainable' only if any operating deficit, infrastructure backlog or excessive net financial liabilities that presently exists could be corrected without the council having to resort in future to substantial adjustments to its existing revenue-raising and/or expenditure."

Bl**dy brilliant fellas - the flood waters haven't even receded yet and our noses are being rubbed in the fact that decades of cost-shifting by the big boys in Canberra and Sydney will probably see rate hikes across the Northern Rivers in the next few years (except of course for Grafton which seems to have perfected a perfect beggar's lurch whenever it approaches Clarence Valley Council).

Still, I'm not too sure that I trust this starry research mob, as they have only bothered with what the report calls the top 100 councils and Kyogle Shire doesn't rate a mention even though this area is usually an active partner in whatever cost-sharing measures the Northern Rivers manages to establish.

If you want to read the short Fiscal Star-Dexia puff piece go here.
If you want to read the full 2009 Review of NSW Local Government Financial Sustainability go here.