Councils in $20m cash dispute

Story appeared in: Review | July 10th, 2017

UNABLE to resolve a dispute over a how much cash needs to change hands post-amalgamation, Cumberland and Parramatta Councils have called in the arbitrators.
The Review understands that about $20 million is at stake but the waring councils have been unable to come to an agreement and only have until September to reach a final settlement.
Cumberland Administrator Viv May said their interim general manager and the chief financial officer "believe quite strongly" that they should receive a greater share of non-fixed assets, or cash, from Parramatta.
"It should be noted that the general manager inherited these agreements when he was appointed," Mr May said.
"As the Interim Administrator of Auburn City Council I made it very clear to the former Councils that I was not in agreement taking the view that the former Woodville ward residents were entitled to a proportionate distribution of "Non-Fixed Assets."
"The City of Parramatta is of the firm view that the draft transition arrangements are appropriate."
The agreement to go to arbitration also includes a provision that neither council will appeal the final decision.

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Publication: Review | Section: news | Author: Kim Palmer | Story ID: 129262 | Viewcount: 2206