Working towards the Draft Annual Business Plan and Budget 2024/2025

We considered a detailed report in relation to our budget at the Council meeting held on Monday 25 March; a report underpinned by a series of workshops and committee meetings.

No resolutions or adopted positions were passed by the Council in relation to the setting of rates for 2024/2025 or what is proposed to be consulted upon. There is currently no draft budget endorsed by Council for consultation.

Council Members gathered for a workshop on Monday 8 April to discuss the upcoming draft budget. They were joined by the CEO of the Local Government Finance Authority and our Audit and Risk Committee Chair who explained the ins-and-outs of council budgets. Council Members discussed what may need to be considered in a draft budget and the challenges being faced by our community.

A workshop means no resolutions, adopted positions, or decisions were passed in relation to the setting of rates for 2024/2025 or what is proposed to be consulted upon. Workshops provide an opportunity for Council Members to discuss matters and ask questions ahead of a formal meeting to ensure they can make an informed decision.

A special Council meeting was held to discuss the upcoming draft Annual Business Plan and Budget 2024/2025. No draft budget was adopted by Council. What was resolved was:

• 2  options of a draft budget calculation be provided to the Audit and Risk  Committee at the 13 May meeting and the 27 May ordinary Council  meeting, including:
  • Option of a breakeven budget with no borrowings
  • Option of a 5.5% average rate increase, excluding growth (3.04%)
• Amended  the capital works program for 2024/2025 to exclude all new expenditure  except for 9 new/renewal projects (originally 21).

An average rate increase excluding growth means that, across all current ratepayers, in this option, an average rate increase of 5.5% will be applied. In terms of actual rate increase, 43% of ratepayers in this option will see less than a 5.5% increase in their rates.

Excluding growth means not including new or transitioning ratepayers (vacant blocks that are now new dwellings, or properties with significant development) and that income from growth is allocated to meet growth-related expenses, primarily related to new infrastructure.

Agendas and minutes

The Audit and Risk Committee met to consider the 2024/2025 budget and revised long term financial plan 2025–2034, which was prepared as requested by Council at the last special meeting on the 6 May.

Council considered recommendations from the Audit & Risk Committee and instructed the Chief Executive Officer to bring a report back to Council regarding the 2024/2025 Draft Annual Business Plan and Budget, including any attachments, ahead of the formal public consultation process commencing in June.

Council endorsed the Draft Annual Business Plan and Budget for public consultation.

The Draft Annual Business Plan and Budget 2024/2025 was released for consultation.