Shellharbour City Council is set to receive $1.3 million more than expected this financial year, thanks to interest on investments.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The council has already accrued $2.32 million in the first seven months of the financial year, after originally projecting $2.76 million for the entire financial year. The updated forecast is now $4.06 million.
Shellharbour Mayor Marianne Saliba said no decisions had been made about where the extra money would be spent.
"We've got a list as long as Lake Entrance Road," Cr Saliba said.
"I wouldn't say it was unexpected, as the finance team has worked hard to achieve that."
Cr Saliba said the interest boost could not be viewed in isolation.
"You have to look across the board ... there might be a windfall in one area and a big black hole in another."
The bonus comes after a council survey showed almost 60 per cent of respondents supported a rate rise above the rate-pegged 3.4 per cent, a survey that former mayor Kellie Marsh attacked as being "loaded".
Meantime, Kiama Municipal Council has scrapped plans for special rate rises of 6.5 per cent for each of the next two years, citing the lower cost of money and infrastructure subsidies from the state government. The council intends to stick with the approved rate-peg limit of 3.4 per cent.
