During an ordinary council meeting last Tuesday, June 18, Greater Shepparton City Council adopted the 2019/2020 annual budget.
The budget proposes a 2.5 percent increase in rates revenue and a 1.8 percent increase in kerbside collection.
City of Greater Shepparton Mayor, Cr Kim O’Keeffe said that council has proposed a financially sustainable budget that it hopes will fully fund asset renewals, generate surplus and to borrow responsibly.
“What was presented for adoption was a financially responsible budget which achieves a balance between wants and needs in order to efficiently manage our resources and provide high quality services in infrastructure to our community,” Cr O’Keeffe said.
The rate increase and increase in kerbside collection charges will generate $79.67 million over the financial year, excluding supplementary valuations.
In the 2019/2020 financial year, council will spend $37.64 million on capital works within the municipality, with $26.28 million committed to the new SAM building.
Greater Shepparton City Council director corporate services, Chris Teitzel said that in simple terms, the budget can be broken down into two main areas: how much council plans on spending and how much income is needed to fund this planning.
“The spending is made of two components, the operating budget and the capital budget. The operating budget tells you what it costs to run the council every year and the capital budget includes phsycial infrastructure, buildings and operational assets, as well as funding proposals for these projects,” Mr Tetizel said.
To view the adopted annual budget in full, visit Greater Shepparton City Council’s website at www.greatershepparton.com.au
