COVID-19 Financial Impact The World Health Organisation declared COVID-19 a pandemic on 11 March 2020. Organisations have faced significant financial challenges and local councils have not been immune to these financial challenges.
Wagga Wagga City Council has had to be responsive to the city’s changing needs in line with advice and guidance received from the NSW Government (NSW Health) and Federal Government (Department of Health) in relation to the management and ongoing recovery of the COVID-19 (Coronavirus) pandemic. Whilst Council has continued to support the community with fee waivers and fee reductions, Council still has a financial responsibility for the long term sustainability of the organisation. With the initial reduction of services and the closure of some Council businesses and facilities over the past financial year, this has continued to have an impact on Council’s future operational budgets, in particular with the operations at the Wagga Wagga Airport. The Long Term Financial Plan provides an indication of the likely financial impact for the Airport on Council’s 10 year budgets. As part of this modelling, the assumption has been made that the reduced services for the Airport will continue for the next 3-4 years due to buyer behaviour and continued restrictions with air travel. These initial adjustments to the budgets in the first 4 years, also impact on the base for the remaining 6 years of the Long Term Financial Plan. The estimated high-level financial impact for the Airport from 2021/22 – 2024/25 after extensive modelling has been conducted is shown in Table 1.
LONG TERM FINANCIAL PLAN 2021-2022
WA G G A WA G G A C I T Y C O U N C I L
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