Understanding The Shires Economic Performance
DSRA looks at some simple and commonly used economic indicators to assess the Douglas Shire’s performance against our neighbouring Councils
The Gross Regional Product (GRP) is the equivalent of Gross Domestic Product (GDP) but for a smaller area. It is the prime indicator of the economic health and prosperity of our region. The Far North Queensland Regional Organisation of Councils (FNQ ROC) referred to in the table below represents 13 member Councils in Far North Queensland. Building Approvals and Full Time Equivalent job losses / gains are key indicators of the economic health of the Shire. Data Sourced from: https://economy.id.com.au/douglas
The 3 key economic indicators above, show that the Douglas Shire is in recession. In addition, DSC has had an Operating Loss (2014-2019) of -$11.4m.
Given these figures, it would be difficult to suggest that Douglas Shire is in good economic shape.
While the economic and financial management of the Shire are obviously crucial measures to consider when assessing the performance of the Council, it is important to be aware that there are many other measures i.e. water and waste management, community consultation, environmental management, maintenance of roads & facilities, and customer service. Performance in all of these areas should be taken into consideration when making a full assessment of the Council’s performance and when selecting your new Council.
ECONOMY.ID.COM | DEMOGRAPHIC RESOURCES
The following links refer to Douglas Shire Council (DSC), Cairns Regional Council (CRC) and Far North Queensland Regional Organisation of Councils (FNQROC)
Gross Regional Product (GRP)
Employment By Industry – Full Time Equivalent (FTE)
Douglas Shire Economic DataThe economic data presented in the following link is derived from official sources of information (Australian Bureau of Statistics) as well as Australia's leading economic modellers (NIEIR) and can also be found on the Douglas Shire Council website.
2019 - 2020 Budget Report
2018 - 2019 Annual Report
2019 Monthly Financial Reports
De-amalgamation Analysis of Cairns Regional Council
Independent Experts Reports On The State Of The Douglas Shire's Economy
DSRA member Mr Hayes FAII, Sf Fin, FAICD has a successful 45 year career as a Senior Research and Funds Management Executive of major domestic financial institutions including AMP and Westpac, and Founder and CEO of Barclays and Ausbil fund management operations specialising in economic and financial analysis and funds management, both domestically and globally. Mr Hayes has conducted an independent review of the Douglas Shire and presents his findings to the community and for the new Council to consider when making some challenging decisions in the times ahead.