COUNCIL FACES “SERIOUS LIQUIDITY ISSUE” AFTER DEFICIT BLOWS OUT

Central Coast Council says it’s in serious financial trouble, after its budget deficit more than doubled.

New audits have shown council will be in the red by $89 million.

That’s up from a deficit of $41 million predicted in March.

Investigations are underway to see if spending over the past 18 months is contrary to provisions of the Local Government Act.

CEO Gary Murphy has written to the Office of Local Government, advising of council’s strife.

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