The Greater Geelong Council has finalised its 2023-24 budget, incorporating a number of changes following consideration of community feedback.
In response to rising costs, the four-year budget focuses on being financially responsible, while delivering funding for a wide range of projects and important community services.
A planned capital projects investment of $616.2 million over the next four years will see 254 projects delivered, including sports fields and pavilions, skate parks and playgrounds, footpaths and road improvements.
While a number of previously budgeted projects have been confirmed as placed on hold due to large cost escalations, the City will proactively seek ways to fund these projects as soon as possible.
Changes to the budget confirmed via a Council vote on Tuesday night were:
- Additional funding for the Geelong Regional Library Corporation of $356,000 to ensure all libraries maintain existing operating hours;
- Funding of $565,000 for Kardinia Aquatic Centre to stay open during the winter season; and
- Funding of $47,500 to Life Saving Victoria to support lifeguard services on coastal beaches.
The budget has been endorsed with a forecast operating surplus of $345,000 in 2023-24.
Average rate rises have been contained to the 3.5 per cent Victorian Government cap.
Rates payable will be $1,479.81 on an average residential property and $4,937.43 on an average commercial or industrial property.
Mayor Trent Sullivan:
Thank you to the community for taking part in the budget process.
There’s no doubt this has been a tough budget but the feedback period is there for a reason and has served its purpose.
Councillors committed from the outset to considering all submissions and we have responded with increased funding for pools and libraries, and the reinstatement of our contribution to Life Saving Victoria.
With funding now confirmed for almost $196 million in capital projects during 2023-24, we can look forward to a lot of building activity getting underway over the next 12 months, which will create local employment and result in some amazing new and improved facilities for the community.
Thank you also to our Acting CEO Kaarina Phyland and our Finance team for working through this process with the Council in challenging circumstances.
Deputy Mayor Anthony Aitken:
The 23-24 budget has proven to be one of the hardest a Council group has had to participate in.
Many projects and services have been delayed, paused or seen funding asks not being able to be met, and the extremely difficult financial environment all levels of government are now operating in continues.
This budget represents a back to basics approach for the council group and commits more than $65 million for waste management, $33 million for family services, $27 million towards parks and reserve management, and $19 million to support local arts and culture, as well as almost $196 million for our capital and asset renewal program.
Our task at the City now is to create affordability and financial sustainability to meet the needs of the Geelong community, which is experiencing ageing assets and rapid population growth.
The Council’s proposed budget was available for community feedback between 26 April and 24 May, receiving 955 submissions in total.
Those wishing to provide their feedback in person were invited to attend Submissions Review Panel hearings on 6 and 7 June.
