The budget lays out a full range of measures, including a 3.5 per cent increase in rates revenue, the largest amount allowed by the Victorian Government, and a 2.14 per cent increase in kerbside collection charges, which are expected to help raise $90.8 million in revenue over the next financial year.
Of that total, general rates are forecast to raise $72.4 million in revenue, municipal charges $6.3 million, waste service charges $12 million and the cultural and recreational rate $41,058.
The budget also includes $2 million in borrowings for capital works during the year, contributing to a total capital works program of $64.15 million.
The budget was passed at council’s meeting on Tuesday, June 20 after a period of public consultation on the draft budget, during which 81 submissions were received.
Speaking after the meeting, Mayor Shane Sali said the budget had struck a responsible balance for council between meeting its obligations of providing services and maintaining fiscal responsibility.
“I don’t think you can get a perfect budget, but we want to make sure we’ve still got money there for our events, our grants, and try and offer just a really fair and balanced budget for this year,” Cr Sali said.
“And like we have in previous years, we’ve done what we can at that particular time with the two years of zero per cent rates (increases) and this year, we’ve obviously opted for the three-and-a-half per cent (rate increase).
“I think at the moment, we’re in an economic climate that is clearly still unstable, and we’re trying to offer a really fair and balanced budget for now, acknowledging that it will be reviewed quarterly, but we also look at it monthly as well. So we’ll assess it as we move forward.”
The budget provides for an accounting surplus of $31.94 million, but will have an adjusted underlying operating deficit of $7.34 million.
Under its 2021-2031 financial plan, council will achieve an adjusted underlying surplus by 2026-27.
A number of flood recovery and resilience projects are included in the budget, with it setting aside $16.52 million to repair damage to the sealed road network caused by the October 2022 floods.
A further $2.42 million is allocated to upgrading the Margaret St pump station in Tatura, $200,000 will be spent investigating and designing improvements to drainage in Lenne St, Mooroopna, and $300,000 is earmarked for the purchase of a portable storm water pump.
Many councillors pointed out that the 3.5 per cent rate increase was significantly less than CPI, which in the March 2023 quarter was 6.8 per cent, and follows zero increases in the past two financial years and the strain of the COVID-19 pandemic.
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