Australia: Latrobe City budget sees 1.5% rate rise, A$10 million loan to be spent
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Monday, June 7, 2021
In a meeting that was held virtually, Latrobe City Council in Victoria, Australia today unanimously approved its 2021/2022 draft budget. Rates and charges are due to be increased by 1.5%, and A$31.196 million has been allocated for capital works. A$10 million of funding that was borrowed in the previous 2020/2021 budget will be used to fund local projects, with A$7.5 million for the second stage of upgrades to the Moe rail precinct, and A$2.5 million to the upgrade of Kernot Hall, a venue in Morwell.
| I regard [the budget] as a masterful piece of financial engineering. | ||
Speaking about the budget, Councillor Graeme Middlemiss deemed it “a masterful piece of financial engineering”, declaring that the budget would ensure no losses of service for the local community. Middlemiss said that following the closure of Hazelwood Power Station, government grants were issued that led to the construction of a number of local facilities, including a performing arts centre, an aquatic centre, and a basketball stadium. However, told Middlemiss, these facilities caused significant financial strain on the council, with the performing arts centre being funded 40% by Latrobe City Council, and the new facilities also created operating costs for the council to bear.
Speaking about the Moe rail upgrades, Middlemiss said that the council was “fobbed off by the federal government”, with the local federal member of parliament Darren Chester having directed the council to apply for a fund that Middlemiss claimed had closed. This led the council to borrow A$7.5 million to fund the rail upgrades in this budget. Middlemiss predicted that the financial situation could tighten in the next years, but that “at the moment, I think our community will be quite happy with this budget.”
The draft 2021/2022 budget was released on April 12, with 28 days being set aside for written submissions. Those who chose to submit were given the opportunity to speak to their submissions on May 24 at an unscheduled council meeting. One of these submitters who chose to speak was Barbara Johnson, a representative of the Latrobe Combined History Group. The budget resolution now contains a doubling of funding for the area’s 6 local historical societies, who currently each recieve $500 per year. Under this budget, that figure will be doubled to $1000 per year. Deputy Mayor Darren Howe praised the societies’ “outstanding service” today when speaking about the budget, while also thanking Johnson for her recent presentation.
Councillor Dale Harriman today said that he had a number of people contact him about the increased charges proposed in this budget. Harriman said that he understood their annoyance with rising fees, but acknowledged the “constant cost to maintain the facilities”, saying the 1.5% rate rise cap statewide had an impact on the services provided, and ultimately that given the circumstances, the solution provided was the best one, and that the charges would be kept to a minimum.