Council resolves not to raise rates above State rate pegPosted Monday 16 December 2013
At an Extraordinary Meeting held on 12 December 2013, Council resolved not to seek an increase in rates in 2014-2015 above the 2.3% rate peg announced by the Independent Pricing and Regulatory Tribunal.
Council’s full resolution in relation to this issue is reproduced below:
- This council is committed to a balanced operating budget for financial sustainability. This is fundamental to effective Council management.
- Council notes that the current operating balance was in deficit $5.8 million in 2010-11 and in deficit $3.0million in 2011-12. This was not acceptable to the current council.
- This Council has reduced the current operating deficit balance to an estimated $1.2 million in 2012-13 and to $0.9 million in 2013-14.
- With an IPART rate increase of 2.3%, staff is projecting a small deficit in 2014-15 and a small surplus in 2015-16 on the basis of current data and policies.
- Council and staff have worked jointly to achieve these significant improvements in the past year and this work will continue with the work of the Expenditure Review Committee and the councillors and staff.
- Accordingly, Council recommends that no application be made to IPART for a special variation.
- Council thanks the staff for their clear and thorough analysis of Council’s current and projected financial position