Kingborough Council will release its Draft 2024-25 Budget for community consultation on Wednesday 3 April until 1 May 2024.
Kingborough Mayor, Paula Wriedt said Council faces challenges with the rising costs associated with maintaining and building infrastructure projects.
“Council has been spending money on many community assets across the municipality with roads, stormwater and sport and recreational facilities being upgraded,” Cr Wriedt said.
“This is to ensure that our community is supported as it continues to grow in size and to manage increasing expectations for higher levels of service.
“Unfortunately, rising costs associated with building and maintaining our community assets have had a noticeable effect on our financial position as a Council.
“This means our assets cost more to build, but are worth more, so we need to allow for a larger depreciation amount.
“To put this in context, for this financial year Council is looking at an operating loss of $2.3M, as well as a draft operating loss of $2.9M in the following financial year.
“This year, Council is proposing a 12% increase in rates which for the average residential ratepayer is $232 per annum or approximately $4.50 week per week. *
“Councillors have carefully considered our financial position and have looked at all possible solutions and have unanimously agreed that this is the only responsible way forward.
“Just as it would be for any business, these losses are unsustainable and it is our responsibility now to make sure our Council is financially stable for the future.
“Increasing rates will mean that we can adequately maintain and eventually replace our community assets worth more than $850 million.
“These assets include road infrastructure, footpaths, stormwater systems and our well used facilities like the Kingborough Sports Precinct and Kingston Park.
“All of these play an important role in ensuring the community has the facilities it needs to thrive now and into the future.
“We must make sure that Council has the necessary money to carry out this work.”
To view the budget documents please visit Council website engagement section.
* (figures based on a home worth $650,000)
To view the CONSULTATION PAGE