Lord Mayor reveals Brisbane flood costBy Kim Lyell, Tuesday February 5, 2013 - 14:06 EDT
Brisbane's damage bill from severe weather associated with ex-tropical cyclone Oswald is estimated at $60.5 million.
Lord Mayor Graham Quirk says the council will be left about $23 million out of pocket after Federal disaster relief payments.
He says council will have to find more savings to balance the budget or rates may have to rise.
"We're already going to have a bill which will exceed 100 million dollars in terms of the January 11 event," he said.
"This is now another 23 million dollars on top of that.
"Every eight million dollars that we spend in this city is about 1 per cent of our rates revenue - that's the equation."
© ABC 2013
More breaking news
Authorities are preparing for a potential cyclone that could hit the north Queensland coast in coming days, as the Bureau of Meteorology (BOM) tracks a tropical low in the Coral Sea that is expected to strengthen.
It's looking more likely that a tropical cyclone will cross the Queensland coast in the coming days.
A slow-moving tropical low has drenched the WA mining town of Port Hedland, which has received more than 270 millimetres of rain this week.