City of Launceston Council has announced a significant improvement in its financial position, with audited financial statements confirming an underlying operating surplus of approximately $387,000 for the 2025-26 financial year.
The Coucil says the result represents a positive variance of approximately $2.4 million against the underlying budget position, which anticipated a deficit of $2.03 million following Council-approved budget amendments during the year.
“The outcome reflects Council’s continued focus on prudent financial management and demonstrates progress toward long-term financial sustainability, while continuing to deliver essential services and invest in community infrastructure,” Council said in a statement.
“The result demonstrates that strong financial management and quality service delivery can be achieved together, with Council focused on working smarter, embracing innovation and ensuring public funds are used responsibly and effectively.”
Importantly, Council says the savings have not come at the expense of the community, with work continuing to deliver major projects including the Albert Hall (pictured), the Princess Theatre and Punchbowl Play Space, while supporting projects such as the Birchalls redevelopment.
“These savings reflect City of Launceston Council’s goals of continuous improvement, and the organisation has continued to modernise and improve efficiency through technology, improved systems, modern equipment and contemporary ways of working,” the Council stated.
“The organisation’s ongoing transformation is continuing to unlock productivity gains while supporting staff capability and improving service delivery outcomes. For example, Council’s organisational restructure implemented last year had delivered improved workforce management
and greater accountability around staffing growth.
“The City of Launceston is positioning itself as a modern local government organisation that is financially disciplined, accountable, innovative and focused on delivering outcomes for the community.”
