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Latrobe City Council Adopts 2023/24 Annual Budget with investments in infrastructure and community projects highlighted

Latrobe City Council adopts 2023/24 Budget, prioritising road network and infrastructure investments, delivering $43.8 million in capital works, and acknowledging community input. A 3.5 percent rate increase is implemented.

By news@gippsland - 3rd July 2023 - Back to News

Latrobe City Council adopted the 2023/24 Budget at the most recent council meeting, following a community consultation process. Investment in the road network and renewing existing infrastructure feature in council's 2023/24 Budget with the budget position forecast to break even on a cash basis. Mayor of Latrobe City Council, Councillor Kellie O'Callaghan said the 2023/24 Budget will see the delivery of $43.8 million in capital works across all parts of our municipality, improving our community's assets and supporting local jobs.

Latrobe City Council adopts 2023/24 Budget, focusing on road network investment, infrastructure renewal, and a 3.5% rate increase

Major project investments

Mayor O'Callaghan said, "We will be delivering a range of major projects, including $4.9 million on upgrading the Marshalls Road/ Traralgon-Maffra Road intersection, $2.4 million to complete Stage 1a of the Gippsland Logistics Precinct, a key deliverable of Our Transition plan, and the $1 million continuation of the Regional Car Parks Fund - Main Works package."

"No new borrowings are proposed in 2023/24 however $5 million, approved in the 2020/21 budget from the state government's Community Infrastructure Loan program, is proposed to be drawn down in the 2023/24 financial year to fund the completion of the $3.5 million Moe Rail Precinct Revitalisation Stage Two and $1.5 million Kernot Hall Upgrade projects," said the Mayor.

Community budget feedback

Mayor O'Callaghan added, "On behalf of council I would like to thank those community members who took the time to make a budget submission this year. We received 47 Budget submissions via council's Have Your Say platform, across a range of projects and services. While it is unfortunately not possible to fund every item, community feedback is a crucial part of the future budget planning process."

In line with the Victorian government's Fair Go Rates System, a rate increase of 3.5 percent will apply. The 2023/24 Budget can be viewed online on Latrobe City Annual Budget page.

Pictures from Latrobe City Council website.

Source: www.gippsland.com

Published by: news@gippsland.com