Council adopted its Budget 2013/14 at its meeting on 4 June 2013.
On 17 December 2013, Council resolved to release a revised budget for public comment until 31 January 2014 following decisions to spend money on a number of additional capital works projects that had not been part of the scope of the original budget adopted in June 2013.
Several projects - including the proposed aquisition of two significant properties for community services and staff - required the revision of Yarra Council's 2013/14 Budget.
Those projects were:
(a) purchase of a property known as 343-353 Bridge Road, Richmond and additional works on that property to allow for its use for Council purposes. The total estimate cost of this project is around $14 million
(b) acquisition of 100 percent ownership of the Connie Benn Centre, located at 160 Brunswick Street, Fitzroy. The capital component of this project is estimated at around $2 million, with $1.6 million of this required in 2013/14. Funds for this project were temporarily accessed from the Community Infrastructure Fund, with a commitment to restore this fund via a subsequent budgetary process
(c) an Energy Performance Contract with a value of over $3.4 million for the implementation of energy efficiency related projects across a number of Council owned facilities. It is proposed that this will be part funded by the additional borrowings, to accelerate works.
Revised Budget 2013-14 (139.03 KB)
Budget adopted in June 2013
The original 2013/14 Budget - before revision - can be viewed here:
Adopted Budget 2013/14 (1.17 MB)
More information about the Adopted Budget is available in this media release.
Highlights of the budget include:
- $138.9 million total operating budget
- $34.5 million capital works program (includes carried forward projects $2.4 million)
- $2.3 million in new initiatives
- $1.8 million for community grants
- 4.4% rate in the dollar increase for ratepayers
- 10% increase in the rate rebate for pensioners (from $136 to $150 per annum) as well as continuing to ensure concession fees remain affordable.
- $398,000 for the Yarra Energy Foundation (YEF) for 2013/14
- $200,000 to continue the campaign opposing the east west toll road and supporting a new Doncaster rail link
- $200,000 for the Burnley Backyard project
- $100,000 for a Creative Spaces Foundation which attracts a dollar for dollar matching contribution from the Lord Mayor's Charitable Trust
- $96,000 to develop and deliver year one actions in the Middle Years Strategy 2013–2017
- $61,000 for a second Community Safety Officer to respond to issues of community safety raised by residents and traders and to lead greater coordination of Council and external services
- $40,000 for a trial of a ranger service at Edinburgh Gardens
- $40,000 for preliminary work on an Urban Forest Strategy.
Capital Works highlights
The adopted $34.5 million capital works program includes:
- $4.4 million to continue the Collingwood Town Hall upgrade
- $815,000 for a new combined heat and power (cogeneration) mechanical plant at Richmond Recreation Centre
- $700,000 for the ongoing North Fitzroy Community Hub (Library) project
- $680,000 to upgrade the Gold Street Child Care Centre in Collingwood
- $545,000 to upgrade the Maxwell Sutherland Pavilion in Fairfield
- $500,000 to fit out the ‘Studio 2’ community facility within the former GTV9 site in Richmond
- $500,000 to progress the Lourdes Child Care Centre project in Abbotsford
- $8.9 million for more than 80 road, footpath, drainage and tree root management projects
- $4.9 million for more than 25 parks and open space projects
- $1.7 million for the Victoria Street Gateway construction
- $1.2 million for bicycle lanes, paths and associated infrastructure
- $592,000 to implement Local Area Traffic Management Plans.
Factors impacting the budget
There are a number of mandatory State Government charges that impact Yarra’s budget in 2013/14.
Fire Services Property Levy
From 1 July 2013, Victorian Councils have been directed by the State Government to collect this levy. Although appearing on rates notices, this is not a Council charge for Council services, but a State levy. Council expects to save about $1.5 million from the new collection system. That saving will be reinvested into the community via the capital works and new initiatives budget. Here is more information about the Fire Services Property Levy.
State Government Landfill Levy
Costs associated with the landfill levy will also rise by 10% next year. The approximate amount of this levy for Yarra will be over $1 million - an increase of $95,000 on the previous year.
Defined Benefit Superannuation Liability
Council is required to ‘top up’ the defined benefit superannuation liability (a superannuation scheme which pre-dated amalgamation). Yarra’s liability for this ‘top up’ is around $13.5 million. Council proposes to pay out this sum through a loan, spreading the repayments over a number of years rather than funding a lump sum payment with a major rate increase in one year.
Previous Council Budgets
Download budgets from previous years:
Council Budget 2012/2013.docx (1.06 MB)
Council Budget 2011/2012 (2.84MB)
Council Budget 2010/2011 (1.63MB)
Council Budget 2009/2010 (700.22kB)
Council Budget 2008/2009 (2.59MB)
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Manager - Finance