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2015-16 Annual Plan and Budget

2015–16 Annual Plan and Budget – highlights

Council’s commitment to deliver innovative projects in the areas of sustainability, transport and community services to accommodate a booming city continues in the third year of Council’s four-year vision for the city. 

While the Queen Victoria Market (QVM) Renewal Project is the cornerstone of this year’s budget, work will continue on a number of major Council projects.

We are doing things smarter with what we already have to meet the needs of a fast-growing population.

We are continuing to turn grey into green by repurposing some of our unused roads into open space through projects like University Square, the Southbank Boulevard upgrade, Eastwood and Rankins and the Railway and Miller Street Reserve park expansions.

Council’s existing infrastructure assets worth more than $3.7 billion will also be maintained for future generations.

Major maintenance and renewal works include:

  • Drains renewal: $2.48 million
  • Flood mitigation renewal: $1.43 million
  • Kerb and channel renewal: $2.5 million 
  • Footpath renewal: $4.5 million 
  • Roadway renewal: $4.85 million 
  • Parks renewal works program: $7.1 million 
  • Tree planting: $1.47 million 
  • Urban landscapes climate adaptation (streets renewal): $1.6 million 
  • Parks maintenance works program: $1 million

This year’s surplus of $9.4 million has been achieved through an effort to contain operating costs while still delivering a strong $86.58 million capital works program, more than $40.5 million in promoting our city and premier events and $55.2 million in community services.

The budget is closely linked to Council’s first 10 Year Financial Plan to be released in June.

Rates

The budget includes a 3.6 per cent increase in rates.

This rise is one of the lowest in the state and reasonable if Melbourne is to maintain its position as one of the world’s most liveable cities. Well-functioning cities need strong investment. We’re mindful of the impact rate rises have on our ratepayers and considerable deliberation goes into determining what we need and how we spend what we have to ensure we keep rate rises to a minimum.

Despite the economic challenges of our time, we are keeping underlying cost increases contained to 1.9 per cent significantly lower than the forecast 2015–16 inflation level of 2.75 per cent.

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