The $781 million Budget commits to delivering essential services for our community today and investing for future growth.
In 2024–25, we also return to surplus – a year ahead of schedule – due to a number of prudent financial decisions.
Cost of living has been front of mind through the development of this draft Budget as we continue to deliver core frontline services, along with free and affordable services our community rely on.
Key Budget 2024–25 facts
- $781 million – total Budget, a balance of delivering essential services for the community and investing for growth
- $101,000 surplus
- $225.1 million infrastructure investment
- $64.1 million to make our city cleaner, safer and fairer
- $46.5 million investment for city greening and open space
- $26.4 million for events, activations and festivals
We thank all those who contributed feedback on the Budget 2024–25 and Annual Plan 2024–25. Feedback was presented to a special Future Melbourne Committee on 25 June 2024.
In accordance with section 127 of the Local Government Act 1989, a council must prepare a budget for each financial year.
Council must ensure the budget contains financial statements and other information including capital works, human resources and grants. The budget must contain the amount which the council intends to raise by general rates, municipal charges, service rates and service charges and whether general rates will be raised by the application of a uniform rate, differential rate or limited differential rate.
The budget must include a description of services, major initiatives and initiatives to be funded for the financial year and how they will contribute to achieving the strategic objectives as specified in the Council Plan.
For the services to be funded in the budget, the budget must also include the prescribed indicators of service performance that must be reported against in the performance statement and the prescribed measures relating to those indicators.
The budget is a statutory requirement and council must adopt and submit a copy of the budget to the Minister by 30 June each year.
Any member of the public can make a written submission to the Council on the Budget.
All submissions received by the Council on or before 5.00pm 3 June 2024 were considered in accordance with section 223 of the Local Government Act 1989, by the Council’s Future Melbourne Committee.
Feedback was presented to a special Future Melbourne Committee on 25 June. You can watch the livestream of the meeting.
The 2021–2025 Council Plan, prepared in accordance with section 125 of the Local Government Act 1989, is the Council’s key strategic document.
It describes:
- The strategic objectives of the Council
- the outcomes the Council intends to achieve
- how it will achieve these outcomes during its four-year term
- the resources required
- how it will measure success.
Rates change every year as property values change. Property valuations are market-driven and determined by the Victorian Government.
The City of Melbourne is legally required to issue rates and collect rates revenue.
Rates are necessary to keep our city running. Our teams work around the clock to deliver essential services – from waste and recycling to road works and street cleaning, public health and safety, and keeping our parks and gardens in great shape for everyone to enjoy.
During the pandemic we paused rate rises to support residents and businesses, at a cost to Council of $17 million.
In 2024–25, we will implement the State Government’s 2.75 per cent rate cap.
Council has a strong commitment to supporting all members of our community. Ratepayers experiencing financial hardship can apply for assistance via our website.
City of Melbourne owner-occupied residential property owners can apply for assistance via our website or call the Customer Contact Centre 03 9658 9658.
