Cessnock City Council is enlisting the help of an independent expert to guide its financial sustainability moving forward.
Professor Joseph Drew will be joined by Professors Yunji Kim (Seoul National University), Masato Miyazaki (Saitama University) and Diogo Cuhna Ferreira (Lisbon University) in leading an extensive consultation process with the community.
They’ll explore all relevant factors required for an application to the Independent Pricing and Regulatory Tribunal (IPART) for a special variation.
This latest engagement follows council’s commissioning of the University of Newcastle (UoN) in late 2024 to undertake a review of its fiscal long-term stability.
The work is orientated towards providing the organisation and IPART with a robust evidence brief.
A report will principally be angled around audited financial data, as well as Australian Bureau of Statistics figures, of Cessnock City and other councils.
Professor Drew is a leading scholar in local government finance, previously serving as Professor of Local Government Economics at the UoN’s Institute for Regional Futures and now retired from full-time work.
He boasts an all-encompassing academic background, including qualifications as an accountant, economist, natural law philosopher and mathematician.
Cessnock City mayor Dan Watton stressed the importance of independent expertise to guide council’s drive towards financial sustainability, welcoming the engagement of Professor Drew and his team of three scholars.
“As a fast-growing LGA, our finances are increasingly under pressure as we work to deliver the range of quality services and infrastructure expected by our community,” he explained.
“These budget challenges are largely due to factors such as an ageing and growing asset base, cost shifting by successive state governments, and increases to costs and materials outpacing allowable rate increases capped by the NSW Government.
“These problems are not unique to our council… and are faced by the vast majority of the local government sector.
“So, it’s vital that we continue to do the work to achieve a financially sustainable future.
“I firmly believe the independent advice from Professor Drew’s team will provide the foundations to make informed decisions guided by the best evidence.”
As part of his role, Professor Drew will lead a series of community engagement sessions in November.
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