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Disappointment as audited financial statements of Gosford Council released

Peninsula COC reacts.

Disappointment as audited financial statements of Gosford Council released

The body representing Peninsula businesses is disappointed with last night's Central Coast Council extraordinary meeting, regarding the finances of the former Gosford and Wyong Councils.

The audited statements of Gosford Council, presented at the Mann Street chambers last night, were unable to shed any new light on how its assets were overvalued by around $1.4 billion.

Chamber of Commerce President Matthew Wales says it leaves many questions unanswered.

"We certainly want to know who was responsible for the overvaluations and mismanagement of funds and if they're still working for the new council," Mr Wales said this morning.

"And we certainly hope the state government will continue to pursue this... because I don't believe you can just write it off and say 'OK, that's in the past" - that's not good enough."

Mr Wales says the Peninsula has felt the effects of the financial mismanagement in the lack of road and footpath infrastructure being built.

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