Glenorchy City Council has released its proposed budget estimates and Annual Plan for the 2022/23 financial year.
The budget and Annual Plan take a ‘back to basics’ approach, with a focus on affordability and responsibility.
Mindful of the cost-of-living pressures being faced by its ratepayers, Council will receive a recommendation limiting its rate revenue increase to 3.5%, consistent with its Long-Term Financial Management Plan which was adopted this time last year.
The budget forecasts a deficit of $4.5m at year’s end, with a return to surplus in the 2026/27 financial year.
Glenorchy Mayor Bec Thomas noted the difficulties faced in formulating the draft budget.
“We know how stretched our ratepayers’ finances are with high fuel costs and general cost of living pressures” Mayor Thomas said.
“Like our residents, Council is also dealing with increased costs to deliver services, so we’ve had to balance our ongoing financial sustainability with minimising the pressure on our people.
“After careful consideration, officers are recommending that Aldermen stick to the planned 3.5% rate revenue increase we committed to when we adopted our long-term financial management plan last year.
“This would mean we are still working towards a return to surplus in 2026/27, despite our budget taking a hit from the big increases in materials and services that all councils are facing,” she said.
The budget sets out a $31.5m capital works program, which delivers on Council’s commitment to deliver federally funded sport and recreation projects, while also renewing and upgrading its $1 billion asset portfolio.
Council’s 2022/23 capital works program includes:
- $3.5 million for a new regional playground at Giblins Reserve, Goodwood.
- $435,000 on Road Safety Improvements, including $205,000 to install a safety barrier and resurface parts of Glenlusk and Molesworth roads.
- $9.6 million in new and upgraded football (soccer) facilities at KGV ($3.8m) and North Chigwell Oval ($5.4m), funded primarily through federal government grants.
- $3 million for Stage A of the Tolosa Reservoir Reintegration Project, preparing the former Tolosa Reservoir for future transformation into an iconic regional parkland.
- $11.8 million in renewing, upgrading and maintaining our transport (roads and footpaths), stormwater and property assets, to ensure their long-term viability and reduce future maintenance costs.
Council held a Community Briefing on the proposed budget at 4:30pm today, which was also live-streamed through its website.
The budget will be formally considered by Council at a special council meeting on Monday, 20 June starting at 6pm. Members of the public are welcome to attend or join the live-stream on Council’s website.