Skip to main content

Have Your Say on Latrobe City Council 2022/2023 Draft Budget

At its meeting on 4 April 2022,  Council resolved to release its 2022/2023 Draft Budget (including proposed fees and charges) for public submission.

Click the link below to download a copy of the budget:

Copies of the 2022/2023 Draft Budget are also available for inspection at all Council service centres.

About the Draft 2022/23 Budget

The 2022/23 draft Operating Budget focuses on delivering quality services to the community through a combination of existing programs, new initiatives and Capital Works.

Draft Annual Budget 2022/23 is framed to deliver on the Council Plan 2021-2025 and is aligned with each of the themes and objectives of the Plan.

The draft Annual Budget is an integral part of Council’s overall strategic planning framework and endeavors to resource the directions that have been established in the Council Plan.

Operating budget

The 2022/23 Operating Budget predicts an operating surplus of $2.2 million, after raising rates and charges of $87.6 million out of total revenue of $138.3 million.

When excluding non-recurrent capital funding and developer contributions, an underlying operating deficit of $7.3 million is projected for 2022/23. The underlying deficit primarily reflects the injection of over $120 million of new capital infrastructure in recent years, which has increased depreciation expenses by $3 million annually.

The Financial Plan identifies the need for Council to review infrastructure, services and service levels in order to implement actions to alleviate the deficit position in the long term and to remain financially sustainable in a revenue capped environment.

The deficit reflects a financial position consistent with the current rate capped environment of 1.75 per cent, in line with the Victorian Government’s Fair Go Rates System (FGRS).

Do you like our site?