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2025/26 Draft Annual Business Plan and Budget

2025/26 Draft Annual Business Plan and Budget continues the journey Council and the community embarked upon last financial year in working toward a more sustainable and financially resilient future. This is the second year of our multi-year budget repair approach, one that was shaped by the decision that our community made last financial year.

In the 2024/25 financial year, we took the first critical step towards budget repair with a 9.80 per cent rates increase, and now, for the 2025/26 financial year, Council proposes a 6.95 per cent increase. This strategy will see Council back to a surplus position and paying down debt.

The Long Term Financial Plan 2025/26 – 2034/35

As part of our financial planning process and developing the Draft Annual Business Plan and Budget, Council reviews and updates the Long Term Financial Plan.

This review helps provide a high level of certainty in our ability to meet the ongoing costs of services and capital works, maintained over a 10-year planning horizon. This review also considers the funding approaches for asset renewals, new assets and significant upgrades, and the approach to borrowings. This draft Long Term Financial Plan achieves a number of outcomes for the community:

• On average, a rates increase of 6.95 per cent for 2025/26 (excluding Vacant Land and growth on subdivisions). The rate increase is higher than the December LGPI of 2.3 per cent, due to the Council shortfall from Council setting rate increases below LGPI between 2020/21 and 2023/24, as well as the continuing increase of capital expenditure and construction industry costs which has resulted in significant asset revaluation increases and higher depreciation.
• An operating surplus of $523k (including subsidiaries) and surpluses for all remaining years.
• Total borrowings as at 30 June 2026 forecasted at $28.6m. (Current Forecast position for 2024/25 is $27.1m) and at the end of the 10-year period at $4.9m (based on the set level of Capital spend assumed in the Plan).
• Most financial indicators within the LGA recommended range throughout the 10-year period.
• Renewal and replacement of existing assets equalling $12.3m in 2025/26 and totalling $135.5m across the 10-year period.
• New and upgraded assets equalling $10.8m in 2025/26 and totalling $51.4m across the 10-year period.
• Capital contribution of $5.5m towards the Brownhill Keswick Creek Project across the 10-year period subject to approval from Council.

Your feedback on the proposed 2025/26 Draft Annual Business Plan and Budget and the Long Term Financial Plan 2025/26 – 2034/35 is welcome.

Go to the 'Documents' tab to the left to download and read the documents, then fill in the below survey to provide your feedback.

Provide your feedback by 5 pm Friday 16 May 2025