ALBURY'S ability to remain a standalone council has been underlined in its annual financial statements headlined by an operating surplus of $13.9 million for 2014-15.
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Albury was one of only two southern Riverina councils to achieve "fit for the future" status by the Independent Pricing and Regulatory Tribunal last week.
The favourable result released this week revealed a surplus in its general fund for the first time since 2006-07.
A net profit of $7.4 million followed a $3.4 million loss last year and was helped by the dumping of the carbon tax by the federal government.
It translated into a $4.9 million turnaround for council which also banked $3.2 million in financial assistance grants.
The tip operations surplus also improved by $1.1 million and an additional $760,000 was collected in rates and charges.
The council also recorded a combined $6.5 million surplus from its water and sewer funds.
The water fund net profit of $1.6 million is in line with the 2013-14 result and the sewer fund net profit of $4.8 million is up by almost $2 million.
It is the third successive combined water and sewer fund surplus after recording losses for the previous 10 years.
The service and efficiency review instigated when Albury general manager Frank Zaknich joined council in early 2013 had also played a part in the positive report card.
The review has achieved $1.82 million in savings to date including $666,471 during the 2014-15 financial year.
The airport also recorded an operating surplus of $771,000.
Albury's total operating income in 2014-15 was $115 million.
Mayor Henk van de Ven said the positive returns generated from operations were to fund infrastructure works.
“Council’s strong financial position had helped its compelling case to stand alone and recently be deemed to be fit for the future," he said.
“But the job is not done.
"It’s important we continue to be proactive in managing our budget to meet the financial challenges ahead."
