Under the Reduce Services option, rates will increase from 1 July 2024 in line with the NSW Government rate revenue peg (assumed to be 3.5%). The Council will not apply for a Special Rate Variation.
To balance its budget, the Council will be required to undertake widespread service cuts (worth $2.8m across 2024/25 and 2025/26) and find increased non-rate revenue ($500,000 across 2024/25 and 2025/26).
2024/25 average rate increases under the Reduce Services option
Residential
Business (General)
Business (CBD)
Yearly
Weekly
Yearly
Weekly
Yearly
Weekly
Existing average rate in 2023/24
$1,088
$20.92
$6,524
$125.46
$7,803
$150.05
Increase due to assumed rate peg (3.5%)
$38
$0.73
$228
$4.38
$273
$5.25
Increase due to Special Rate Variation (0.0%)
$0
$0
$0
$0
$0
$0
Total average rate increase under 3.5% rate rise
$38
$0.73
$228
$4.38
$273
$5.25
Average rate in 2024/25
$1,126
$21.7
$6,752
$129.8
$8,076
$155.3
Please download this table to see how, under this option, rates would increase from 2025/26 to 2027/28.
Projected annual Operating Results (surpluses or deficits) under Reduce Services option
Under the Reduce Services option, the Council will record a balanced (or "break even") average Operating Result in the nine years to 2032/22, recording five surpluses and four deficits in the nine years between 2024/25 and 2032/33.
Council will have limited ability to withstand future financial shocks or add to reserves for community services or new projects.
Advantages and disadvantages of the Reduce Services option
Below are the advantages and disadvantages of the Reduce Services option.
Advantages
Disadvantages
Rates will stay low and in line with NSW Government rate peg
Council will try to match income with expenditure, while noting it will be in deficit in four out of the nine years between 2024/25 and 2032/33
Cuts to services which could involve reduced maintenance, reducing or cutting services to the community, and putting at risk the timely renewal of assets
No accumulation of funds for increased community services or projects
No buffer to manage financial shocks
No margin for extreme weather events
No accumulation of funds for future growth
Future rate increases above the rate peg are highly likely
Reduced staff attraction and retention
Under the Reduce Services option, rates will increase from 1 July 2024 in line with the NSW Government rate revenue peg (assumed to be 3.5%). The Council will not apply for a Special Rate Variation.
To balance its budget, the Council will be required to undertake widespread service cuts (worth $2.8m across 2024/25 and 2025/26) and find increased non-rate revenue ($500,000 across 2024/25 and 2025/26).
2024/25 average rate increases under the Reduce Services option
Residential
Business (General)
Business (CBD)
Yearly
Weekly
Yearly
Weekly
Yearly
Weekly
Existing average rate in 2023/24
$1,088
$20.92
$6,524
$125.46
$7,803
$150.05
Increase due to assumed rate peg (3.5%)
$38
$0.73
$228
$4.38
$273
$5.25
Increase due to Special Rate Variation (0.0%)
$0
$0
$0
$0
$0
$0
Total average rate increase under 3.5% rate rise
$38
$0.73
$228
$4.38
$273
$5.25
Average rate in 2024/25
$1,126
$21.7
$6,752
$129.8
$8,076
$155.3
Please download this table to see how, under this option, rates would increase from 2025/26 to 2027/28.
Projected annual Operating Results (surpluses or deficits) under Reduce Services option
Under the Reduce Services option, the Council will record a balanced (or "break even") average Operating Result in the nine years to 2032/22, recording five surpluses and four deficits in the nine years between 2024/25 and 2032/33.
Council will have limited ability to withstand future financial shocks or add to reserves for community services or new projects.
Advantages and disadvantages of the Reduce Services option
Below are the advantages and disadvantages of the Reduce Services option.
Advantages
Disadvantages
Rates will stay low and in line with NSW Government rate peg
Council will try to match income with expenditure, while noting it will be in deficit in four out of the nine years between 2024/25 and 2032/33
Cuts to services which could involve reduced maintenance, reducing or cutting services to the community, and putting at risk the timely renewal of assets
No accumulation of funds for increased community services or projects
No buffer to manage financial shocks
No margin for extreme weather events
No accumulation of funds for future growth
Future rate increases above the rate peg are highly likely
Reduced staff attraction and retention
Page last updated: 22 Sep 2023, 05:57 PM
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