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Latrobe Council Annual Plan and Budget Report 2018-19

 

LATROBE COUNCIL

MEDIA RELEASE

For Release :          13th June, 2018

COUNCIL APPROVES 2018/19 BUDGET

The Latrobe Council last night approved its budget and rates for 2018/19.

Mayor Freshney said, “Our Council continues a strong focus on financial performance and again we are able to report that an underlying surplus is expected for the 2018/2019 financial year.  Latrobe remains the lowest rating Council in the region and one of the lowest rating Councils in the State”.

Rates from existing ratepayers will generally increase by approximately 2%.  After allowing for a 1.5% increase from new rates collected due to building growth in the municipality, general rates revenue will increase by approximately 3.5%.

Mayor Freshney further commented that Latrobe Council will receive $190,000 per annum less distributions from Taswater from 2018/19 onwards which is equivalent to 2.6% of rates.

A cap on general rate increases of 10% has been retained for properties affected by the property value adjustment factors determined by the Valuer-General in 2017-18.

The expected operating result for 2018/19 is a $1.49m surplus with a budgeted underlying surplus of $33,000.

The capital works program totals $5.1m of which $2.1m relates to projects carried forward.  Of the $5.1 million in capital funding required, $2.1 million will come from Council operations, $595,000 from specific purpose external grants, $330,000 in borrowings under the Accelerated Local Government Capital Program and $2.1 million from Council’s accumulated cash and investments.

Some of the new planned projects include;

  • Roads, bridges and footpaths ($1.3m) including; road reseals $400,000; kerb and channel in Hamilton Street Latrobe ($330,000) and Kermode St Port Sorell ($115,000); new footpath in Darling St ($18,000), Kermode St, ($28,000) and Benny St ($100,000); and widen and reconstruct asphalt pathway at Port Sorell foreshore, $150,000.
  • Storm water ($420,000) including construction of retaining walls along Kings Creek, $350,000
  • Buildings ($870,000) including refurbishment of existing elderly persons units $100,000; contribute towards construction of four affordable housing units in Hamilton Street, $153,000; refurbish main grandstand at Latrobe Recreation Ground, $100,000; and replace roof and install roof access system at Latrobe Youth Centre, $80,000.
  • Land improvements ($293,000) – including provision for priority capital works arising from the Port Sorell Strategic Plan, $100,000 the Port Sorell Caravan Park Strategic Plan, $100,000.

Further information is available on Council’s website:  www.latrobe.tas.gov.au

ENDS

MEDIA INQUIRIES:   MAYOR PETER FRESHNEY   (PHONE: 0417 287 006)

Latrobe Council Annual Plan and Budget Report 2018-19(1967 kb)

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