With innovative projects in the areas of sustainability, transport and community services to accommodate a booming city, Council is ensuring Melbourne is a vibrant, inclusive place, well positioned to meet the opportunities and challenges of a growing city for decades to come.
This year’s $495.89 million total budget invests $399.41 million in programs and services, and fully funds a $108.48 million infrastructure program, with no new borrowings.
The budget includes further funding of $8.45 million as momentum builds on the Queen Victoria Market (QVM) renewal, following the $76 million acquisition of the Munro site last year.
This is the final budget of this Council and rounds out four strong years delivering quality services, quality infrastructure, innovatively and efficiently.
Major maintenance and renewal works include:
- QVM Renewal Project: $8.45 million
- Energy efficient street light renewal: $5 million
- Major streetscape improvements and design: $4.35 million
- Urban landscapes climate adaptation (new streets and associated open spaces): $2.656 million
- Lady Huntingfield Child Care Centre Upgrade: $2.2 million
- Tree planting program (3000 trees): $1.5 million
- Bicycle Improvement Program: $1.56 million
- Green Your Laneway Pilot Project: $1.3 million
- Hawke and Adderley Street open space: $1.1 million
- Flood mitigation new works: $1 million
- Implementation of Docklands Community and Place Plan: $1 million
- Southbank Boulevard upgrading: $1 million
The budgeted underlying surpluses proposed for 2016-17 of $15.42 million is an increase on the prior three years, demonstrating conscious and deliberate actions to secure necessary funding for QVM and other future capital investment.
The draft budget proposes to cap rate increases at 2.5 per cent, which is consistent with the State Government’s allowance. It is important to note that because 2016 is a revaluation year, this 2.5 per cent increase is an average increase for the municipality. Individual rates notices may have a different rate of increase, relative to changes in property values.
As always, Council continues its strong focus on containing operating costs.