City Finances

Published on Wednesday, 31 March 2021 at 2:57:10 PM

Long-term Financial Plan 2021/22 – 2030/31

Councillors adopted the City of Busselton 10 year Long-term Financial Plan (LTFP) on 25 March 2021.

This important document aligns with the Strategic Community Plan which has been developed in close consultation with the community. The LTFP will guide City expenditure and revenue for the next decade. It outlines projects and priorities for progression subject to future revenue. 

These projects include (but are not limited to):

  • Progression of the Performing Arts and Convention Centre
  • Development of the Dunsborough Lakes Sporting Precinct as well as other recreational facilities outlined in the Strategic Recreational Plan
  • Coastal protection and adaptation works (see below for more information)
  • Revitalisation of the Lower Vasse River
  • Major capital works associated with the development of the Busselton Margaret River Airport
  • Waste Management Infrastructure

Overall the City plans to invest $316 million into capital projects over the next ten years which will help stimulate the local economy and ensure we have the facilities and services necessary to meet the needs of our growing community.

Long-term Financial Plan 2021/22 – 2030/31

Key Focus on Coastal Protection

In the past 1% of rates collected has been directed toward coastal protection and adaptation work to fund the building and maintenance of seawalls, coastal monitoring programs and sand nourishment works. Moving forward, and in direct response to the issue having been identified by the community as a high priority, this will increase by 0.5% in 2021/2022 and a further 0.5% the following financial year. By 2022/2023, 2% of annual rates will be directed toward coastal protection and prevention.

This strategic allocation of resources is a demonstration of Council’s firm commitment to protecting community assets from the impact of coastal erosion and preparing for future challenges. Few other coastal Local Governments across Australia have taken such a proactive step towards addressing the impacts of climate change on our coastal environment.

Rates

The LTFP outlines proposed future rating levels with an emphasis on keeping rates as low as possible. Last financial year, in response to Covid-19, there was a 0% increase in City rates. In 2021/2022 rates are proposed to increase by 2.5% inclusive of the 0.5% specifically introduced to address coastal erosion.

Sound fiscal management over the past decade has enabled the City to build a plan that proposes to keep future rate increases low while still delivering a broad range of capital projects and services to our growing community and in an environment where external funding is likely to be limited in the foreseeable future.

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