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Mayor’s Message Council has now passed the 2004-2005 budget with a rate rise of 6% across all types of properties. The rationale behind this budget was to contain costs and work towards a sustainable position for the future of the organization. By South Gippsland Shire Council - 30th August 2004 - Back to News This was made difficult by unavoidable increases in insurances and reductions in grants from the Victorian grants commission, but I believe we have struck a balance in order to achieve and maintain a break-even result as set out in Council’s long term financial strategy
A revaluation of all properties in the municipality has also taken place, effective 1st January 2004, with an overall increase in valuations of 60%. Some areas such as the coastal properties have increased by up to 90% which has caused some anxiety amongst residents in these areas.
Local government rates are a tax on property values, and as the valuation increases, so do the rates. This is unavoidable as the coastal properties have had a very big increase over a very short time. Hopefully this impact will be minimized as property values level out.
The biggest capital project to be funded in this financial year is the South Gippsland Leisure Centre and apart from this, our focus has been on asset renewal rather than new capital projects. The effort over the coming months will be to look after and maintain what we already have, rather than build new infrastructure.
I would like to thank the Finance team, Councillors and the staff who have been involved in the budget process for an excellent result that has put Council on track for good financial management and debt reduction in the future. This has been achieved with the help of the public, who have had access to, and participated in, most of our budget briefings.
Source: http://gippsland.com/ Published by: news@gippsland.com
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