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2014-15 Annual Plan and Budget

2014-15 Annual Plan and Budget

A greener, better connected Melbourne that supports and inspires its residents is at the heart of the second year of Council’s four-year vision for the city to be delivered through the 2014-15 Annual Plan and Budget.

Last year, Council unveiled its vision for a bold, inspirational and sustainable Melbourne. In 2014-15, we’re getting on with delivering on that vision.

Creating new and improved open spaces, continuing the expansion of the city’s bicycle network, completing new facilities such as the Kathleen Syme Library and Community Centre and the Kensington Town Hall are the highlights of a $99.3 million investment in infrastructure in the 2014-15 Annual Plan and Budget.

Street by street, we are greening our city by creating new parks and increasing tree cover. Block by block we are making the city safer by installing new bike lanes and upgrading roads and footpaths, and suburb by suburb, we’re providing the very best community facilities.

We will deliver $374 million in services and almost $100 million in infrastructure in 2014-15 while paving the way for the largest investment in Council history, the renewal of the Queen Victoria Market.

The 2014-15 Annual Plan and Budget also includes a $6.37 million underlying surplus to help fully fund a $99.3 million infrastructure investment and $374 million in programs and services, while keeping cost increases at 2.5 per cent, expected to be below CPI.

In 2013, the City of Melbourne welcomed 11,000 new residents, an increase of 10.5 per cent. This is a disciplined budget that meets the demands of the fastest-growing municipality in Australia without blowing out spending.

Our 2014-15 Annual Plan and Budget will keep delivering quality infrastructure for a growing city and the services residents and ratepayers expect, while keeping spending growth below CPI.

Infrastructure

Major investments in the draft 2014-15 Annual Plan and Budget include:

See our key projects sheet (PDF, 1.3MB)

Rates and revaluation

The budget includes a 3.6 per cent increase in rates revenue, generating an additional $7.9 million. It is important to note that because 2014 is a revaluation year, individual rates notices will not increase by 3.6 per cent, but will increase or decrease relative to changes in property values.

The revaluation process has no impact on the overall value of rates revenue. It is a redistribution of the rates burden based on changes to property values over the past two years.

We want to minimise the burden on ratepayers, so the City of Melbourne will continue to make smarter investments that will help us keep rate rises as low as possible. For instance, our investments in stormwater harvesting are paying dividends. Next year, our water costs will grow by 23 per cent.  However, our 225,000 kilolitre capacity stormwater harvesting sites which hold the equivalent of 90 Olympic swimming pools, will save us $607,000 next year alone.

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More information

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2013-14 Annual Plan and Budget

Read the previous Annual Plan and Budget 2013-14 (PDF, 3.1MB)

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