Annual Business Plan and Budget

In 23/24 Council’s adopted budget ensures Council continues to be financially sustainable whilst delivering the range of services and infrastructure for affordable rates.

This is reflected in our key financial indicators:

Operating surplus $6.08m (which includes $4.0m in grant funding for the capital renewal of Grange Reserve and Model T club clubrooms)
Operating surplus ratio 4.0% (benchmark >0 and <10%)
Net financial Liabilities ratio 41.9% (benchmark <100%)
Interest cover ratio 1.3% (benchmark <10%)
Asset renewal funding ratio 116.6% (benchmark >80%)

The total average rates increase across the City is 7.44%.

This is less than the current CPI for March 2023 of 7.9% and demonstrates Council’s resolve to keep rates affordable by driving efficiencies within council operations against rising cost pressures.

The average increase for residential ratepayers is 7.39% and for a residential ratepayer with a median property value the increase in rates translates to an additional $2.22 per week or $115.61 per annum.

The minimum rate for 35% of all ratepayers will increase to $1,204 p.a.

For the money collected ($163.5m )where rates levied accounts for 79% of funding required , ratepayers are investing in their local community through the delivery of the following services and infrastructure projects:

Read the Annual Business Plan and Budget 2023-2024 for a comprehensive list of all capital and annual operating initiatives or our summarised version Annual Business Plan and Budget Summary 2023-2024.

Previous Annual Business Plan and Budgets

Annual Business Plan and Budget

Previous Annual Business Plan and Budgets

2022/23

2021/22

2020/21

2019/20

2018/19

2017/18

2016/17

2015/2016