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Our funded future

What are Our funded future options?

We have put together a number of rate income and non-rate income options to turn our financial position around and we want to explore these with the community.

Non-rate income options include:

The rate income options include our current scenario and 5 options for a Special rate variation:

Under the base option, Council will not be financially sustainable. The income we get will not cover what we need to spend to deliver services as they currently are. Our assets will deteriorate and we will look at reducing or ceasing services. This might mean we only mow our parks once per six weeks instead of once per month, it could mean we postpone the resurfacing of a road, we push back the renovation of a sports facility or not replace older playground equipment. Other services which could be impacted is opening times of our community libraries, our Visitor Information Centre or other facilities. If this is the path forward we would have lengthy community conversations to understand what services you’re prepared to see reduced or stopped in the future.

2.5%rate increase every year. 10.38% cumulativebar graph showing negative budget up until 2032

Base Option – Average Impact on Individual Rating Categories (PDF 79 KB)

Under Option 1 Council achieves our target budget in 2026 and stays there for seven (7) of the ten (10) years of our financial plan. Between 2023 and 2026 Council will be vulnerable to external shocks such as natural disasters and will need to continue operating on a tight budget whilst we wait for additional funds to become available to put back into the community.

38.56% cumulative or $9 per weekbar graphic showing council's budget until 2032

All figures are inclusive of the 2.5% rate cap and are permanent in nature

Option 1 – Steady Growth – Average Impact on Individual Rating Categories (PDF 85 KB)

Under Option 2, Council achieves our target budget in 2025 and stays there for nine (9) of the ten (10) years of our financial plan. From 2025, additional funds above the balanced budget will become available to put back into the community and Council would maintain a strong financial position long term. This option is recommended by independent experts Professor Brian Dollery and Professor Joseph Drew.

34.92% cumulative with a 10.5% increase over 3 yearsbar graph showing Council's budget until 2032

All figures are inclusive of the 2.5% rate cap and are permanent in nature

Option 2 – Independent Recommendation – Average Impact on Individual Rating Categories (PDF 85 KB)

Under Option 3, Council returns to a positive financial position for four (4) of the ten (10) years of our financial plan. From 2028 our financial position would deteriorate, returning to budget shortfalls in 2030. Council will be highly vulnerable to external shocks such as natural disasters and would not be financially sustainable in the long term. It’s anticipated that a further special rate variation would need to be considered in 2028 to be implemented by 2030.

29.68% cumulative with a rate increase over 4 yearsbar graph showing council's budget until 2032

All figures are inclusive of the 2.5% rate cap and are permanent in nature

Option 3 – Short Term Solution – Average Impact on Individual Rating Categories (PDF 85 KB)

Under Option 4, Council returns to a positive financial position for nine (9) of the ten (10) years of our financial plan, eliminating budget shortfalls from when the SRV commences. Council will be in a secure position to absorb external shocks such as natural disasters and maintain this position long-term. Council will have additional funds from 2024 which can be directed back into the community. Whilst the annual increase is higher than any other option the cumulative increase is much less.

a 1 year increase of 26%bar graph showing council's budget until 2032

All figures are inclusive of the 2.5% rate cap and are permanent in nature

Option 4 – Single Year – Average Impact on Individual Rating Categories (PDF 81 KB)

Under Option 5, Council returns to a balanced budget in 2024 and remains in a positive position for eight (8) of the ten (10) years of our financial plan. We will be in a secure position to absorb external shocks such as natural disasters and maintain this position long term. From 2025, additional funds above the balanced budget will become available to put back into the community. This option is the largest cumulative increase which would see the most additional funds available.

45.08 cumulative with a 9.75% rate increase over 4 yearsbar graph showing Council's busget until 2032

All figures are inclusive of the 2.5% rate cap and are permanent in nature

Option 5 – Long Term Solution – Average Impact on Individual Rating Categories (PDF 85 KB)

The purpose of Council applying for a Special Rate Variation is to be financial sustainable.

It is unsustainable for Council to operate year after year with budget shortfalls. The additional income raised by an Special Rate Variation would be used to eliminate forecasted shortfalls, covering the rising costs associated with delivering planned services to our community.

We understand that it will be difficult for some of our community to pay for an increase in rates. We have a range of policies in place to assist ratepayers experiencing hardship, whether it be for a short or long time. Visit our Financial hardship page for more information.

Rates calculator

If you want to know how the above options impact you, use our Rates calculator*. Make sure you have your rate notice ready!

*The rates calculations are an estimate only using the best information currently available to Council. Rates levied may vary from the estimate depending upon changes in your land value compared to your Rate Category average.