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Mayor says 2003/04 budget financially responsibleLatrobe City Council has released its 2003/04 budget for public comment. By Latrobe City Council - 17th July 2003 - Back to News The budget is framed around the retention of existing services, service levels and a significant capital works program. The budget documentation also contains information about the ouputs of all the major services of Council.
The overall rate rise is a 5.9% increase to Council’s general rate income. This compares favourably to other Gippsland councils, with rate rises ranging from 4.4% in Baw Baw Shire to 12.5% in Bass Coast Shire. A ratepayer with a median-priced home will see an increase in their overall rates bill of $42 per annum. This is less than one dollar a week increase. Individual ratepayers may pay less than 5.9% or more than 5.9% depending on the capital improved value of their property. The proposed rate charge for a median-priced home will be just under $658 per annum, in line with other major regional centres.
Latrobe City Mayor, Councillor Graeme Middlemiss said that the 2003/04 budget as presented, is a financially responsible budget that focuses on continued service levels to the community in the face of increasing demand for high quality services, and cost increases, primarily in public liability and work cover insurance premiums.
"One of the main features of the budget is a substantial capital works program of $26m, which includes $11m expenditure on roads, footpaths, drains and bridges, and includes $8.3m on the new Council offices," Cr Middlemiss said.
Latrobe City’s Chief Executive Officer, Mr Richard Hancock, said that the strong debt reduction strategy followed by Council since 1994 has given the Council the capacity to borrow funds in the current year with only a minimal impact on the delivery of services.
"The budget projects a net borrowing position at 30 June 2004 of $11.72M, which is almost half the level of borrowings at 30 June 1994 ($22M). The additional borrowings in 2003/04 of $5.35M will assist in funding part of the capital works program ($3M) and the Council’s unfunded superannuation liability ($2.35M)," Mr Hancock said.
A copy of the full budget can be accessed at Council Service Centres in Traralgon, Morwell and Moe. The budget will remain open for public comment until 1 August 2003.
Members of the community may make a written submission or comment to the Council on any proposal contained in the Budget. Submissions or comments should be addressed to: The Chief Executive Officer, Latrobe City Council, PO Box 345, Traralgon, 3844; or email
latrobe@latrobe.vic.gov.au; and must be received by 5pm on Friday 1 August, 2003.
Source: www.gippsland.com Published by: news@gippsland.com
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