Parramatta. Reduction on investment income

Parramatta City Council expects a $1.4 million reduction in expected annual investment income resulting from the global financial crisis. “This is partially offset by lower interest rate cost applying to council’s variable interest rate loans,” its December quarterly review noted. “The continuing effects of the global financial crisis will be felt over the coming months and it will be necessary for council to continue to carefully monitor its financial position in a difficult environment.”