Syndicate offers help for Kubby
Wednesday December 24, 2008
A syndicate of Cobar Management Pty Ltd, Peak Gold Mines and Cobar Shire Council looks set to help Kubby House Childcare Centre overcome financial difficulties.
Council last week voted to join together with the mines to provide a loan for the centre to pay off a number of outstanding debts.
Cr Michael Cox reported to last week’s meeting the centre is seeking an initial amount of $15,000, although could require up to $30,000 to become viable again.
“They have applied for a federal government grant so that could help as well,” Cr Cox said.
The centre recently provided council with its financial details including profit and loss statements and a budget forecast.
Cr Cox said the forecasts were based on enrolments being up to 20 per cent down on the previous year.
“It’s pleasing that the mines have come on board,” Cr Peter Yench said at the meeting.
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