News

Mayor says $73.5 million debt created at WBW's request

FRASER Coast Mayor Gerard O'Connell says a $73.5 million debt created between Wide Bay Water and the council was done at WBW's request.

WBW board member Geoff Skerritt wrote to the Queensland Audit Office this week calling for the Auditor-General to review the debt.

Mr Skerritt said it was created to guarantee an income from WBW for the council, even when WBW could not pay a dividend.

The debt, approved by the former council in May 2011, meant cancelling 73.5 million in WBW shares held by Fraser Coast Council and the creation of $73.5 million in debt as a result.

Cr O'Connell said the loan was signed off by both the Department of Local Government and Queensland Treasury officials.

"Out of respect for the Fraser Coast and particularly the staff of Wide Bay Water, I do not propose to comment further on this issue," he said.

Readers can now vote in a Chronicle poll on the future of Wide Bay Water.

As of 3pm on Wednesday after more than 100 votes, 77% of people wanted WBW to remain a local government-owned corporation.

The remaining 23% of voters wanted the council to continue to turn it into a commercial business unit (CBU).

The council will not be able to turn WBW into a CBU for a further two-and-a-half years to avoid paying $65 million in stamp duty.

Should Wide Bay Water remain a local government-owned corporation or should council continue with its push to make it a commercial business unit?

This poll ended on 18 August 2013.

WBW should remain a local government-owned corporation - 36%

Council should make it a commercial business unit - 63%

This is not a scientific poll. The results reflect only the opinions of those who chose to participate.

Topics:  debt, fraser coast regional council, gerard o'connell, mayor, wide bay water




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

'All I heard when my baby cried was ‘you’re a terrible mum'

APN Hey Mummy Feature for online - stock images of Katie Dykes. Photo Marc Stapelberg / The Northern Star

KATIE'S battle with PND is not unlike many mothers.

'I just thought all mums got no sleep'

MELTOPIA battled PND with all four of her children.

4 survival tips for mummas heading back to work

The few reminders every working mum needs to read.

Health and nutrition with kids - how do you balance it?

HOW important is health and nutrition in your household?

Smack or no smack - where do you stand?

THE debate is reignited - is smacking acceptable?

Technology and kids: Do you ever cut their wi-fi?

Check out our new video series featuring mums having a chat

Mary Poppins in the Park and plenty more on this weekend

Local Chalk Artist, Willy Paes has been working on his chalk master piece for the Mary Poppins Festival held in Maryborough on the 5th of July. Photo: Brendan Bufi / Fraser Coast Chronicle

Check out the list of things to do this weekend on the Fraser Coast.

Maryborough BMX stars on fire at the CQ titles

ACHIEVERS: Maryborough BMX Club's contingent of Central Queensland plate winners.

Maryborough BMX Club claimed 30 plates at the CQ titles.

OPINION: The Sharks are in the box seat

Titans player Greg Bird fights with Raiders player Joseph Tapine during the Round 16 NRL match between the Gold Coast Titans and the Canberra Raiders at CBUS Stadium on the Gold Coast, Sunday June 26, 2016. (AAP Image/Dave Hunt) NO ARCHIVING, EDITORIAL USE ONLY

Tough to stop Cronulla on pursuit of NRL's minor premiership.

Latest deals and offers

Burnett Heads housing development approved

COUNCIL APPROVED: A Burnett Heads housing development has been approved by Bundaberg Regional Council. Photo Contributed

Councillors approved the development seven votes to four

Three bedroom, 1100sqm block: Is this Qld's cheapest home?

BARGAIN BUY: Is this North Bundaberg property the cheapest home in Queensland?

Becoming a real estate mogul is all about risk and reward