❓ I refer to Legislative Assembly Question on Notice No. 3650 answered on 18 September 2018 which identifies the City of Busselton for their Foreshore Redevelopment project and the Shire of Katanning fo
AnsweredQoN 4243Legislative Assembly
Asked
16 October 2018
Member
Portfolio
Regional Development; Agriculture and Food; Minister Assisting the Minister for State Development, Jobs and Trade
QuestionView source ↗
I refer to Legislative Assembly Question on Notice No. 3650 answered on 18 September 2018 which identifies the City of Busselton for their Foreshore Redevelopment project and the Shire of Katanning for their Town Centre Commercial and Streetscape Revitalisation Project as being requested to return interest accrued on Royalties for Regions funding, and I ask: (a) have any other local governments or other organisations accrued interest on Royalties for Regions funding since March 2017; (b) if yes to (a), which local governments or organisations accrued interest on Royalties for Regions funding, for which projects, and how much interest was accrued for each; and (c) if yes to (a) why were the City of Busselton and the Shire of Katanning the only organisations required to return the interest accrued on funding?
AnswerView source ↗
Answered
20 November 2018
Responded by
Minister representing the Minister for Regional Development; Agriculture and Food; Minister Assisting the Minister for State Development, Jobs and Trade
Response time
9 days
a) Yes
b) [See Tabled Paper No… ].
c) The application of interest accrued on Royalties for Regions projects is assessed on a case-by-case basis as requests are submitted by recipients of funding. Typically, this occurs towards the end of a project when the amount of interest accrued on a project bank account is better understood.
A request to expend accrued interest was submitted by both the City of Busselton and Shire of Katanning. The proposals presented were considered to be in addition to the original scope of approved funding and, in light of the State’s financial position, some funds were requested to be returned.
In both cases, approximately half the accrued interest was retained by the local government for reinvestment in related projects. In the case of the City of Busselton, $50,000 was redirected towards the establishment of a safe swimming area adjacent to the Busselton Jetty.
b) [See Tabled Paper No… ].
c) The application of interest accrued on Royalties for Regions projects is assessed on a case-by-case basis as requests are submitted by recipients of funding. Typically, this occurs towards the end of a project when the amount of interest accrued on a project bank account is better understood.
A request to expend accrued interest was submitted by both the City of Busselton and Shire of Katanning. The proposals presented were considered to be in addition to the original scope of approved funding and, in light of the State’s financial position, some funds were requested to be returned.
In both cases, approximately half the accrued interest was retained by the local government for reinvestment in related projects. In the case of the City of Busselton, $50,000 was redirected towards the establishment of a safe swimming area adjacent to the Busselton Jetty.
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