Sustained Low Pressure System Impacted South East Queensland - Finance Assignment Help

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[1] In early May 2019, a long and sustained low pressure system impacted South East Queensland for most of the month.  Both the Brisbane River and the Mary River flooded on 25 May.  The last time the Brisbane River flooded was in 2011.  At that time, the floods caused an accumulation of sediment along the stretch of the river from Orleigh Park to the Brisbane Corso Park.  The City of South Brisbane Council and the North Brisbane City Council agreed that the stretch of the river impacted by the sediment would need to be dredged in the future.  While vessels were not impeded from using the river at that time, it was agreed any future flooding could cause access problems.  Unfortunately, due to demarcation and cost disputes between the Councils, no dredging was done before the 2019 floods. 

[2] After the May 2019 rains, due to the build up of sediment completely blocking that stretch of the river to any vessels bigger than a canoe, the South Brisbane City Council was forced to have the stretch dredged. To achieve this, they hired Fullagar Dredging (Fullagar).  After inspecting the river, Fullagar and the Council entered a contract where the Council would be charged a $30,000 engagement fee, and then $10,000 per day, per dredge.  Fullagar estimated the work could be completed in three weeks (21 days), using two dredges.  The work was to begin on June 10, 2019.

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