Loddon Shire 2024/25 Budget adopted

Published on 02 July 2024

Loddon Shire Council is pleased to announce the adoption of its 2024/25 Budget reflecting Council’s commitment toward resilient and sustainable local communities.

Council adopted the 2024/25 Budget and corresponding Fees and Charges Schedule at its June Council Meeting on Tuesday 25 June, supporting ongoing local services and important capital expenditure.

In order to maintain the services and infrastructure that are valued by Loddon communities, Councillors resolved to increase average rates in line with the State Government cap of 2.75%.

Loddon Shire Mayor Cr Gavan Holt noted that Council continues to be mindful about the continued financial pressures on ratepayers.

“We understand our community is experiencing cost-of-living demands. The 2.75% rate cap is a balanced approach that allows us to meet our financial obligations while being mindful of the economic challenges our residents are facing,” Cr Holt said.

“It is a measure of responsibility, ensuring that we do not overburden our ratepayers while still providing essential services.”

In a further bid to keep costs to the community down, Council has absorbed increases to waste costs and frozen its waste charges at 2023/24 levels.

"Freezing waste charges and limiting rate increases demonstrates our commitment to keeping the cost of living in Loddon Shire manageable for our residents," Cr Holt said.

"We also remind the community that support is available for those facing financial difficulties.”

Council continues to offer payment plans and support for financial hardship in respect to council rates, and residents are encouraged to contact Council if they have concerns come rates notice time.

With the Budget adoption comes advice that while Council’s net cash result is a $408,000 surplus, underlying that is an operating deficit of $8.59 million.

While much of this deficit is driven by drawing down on accumulated end-of-prior-year cash surpluses to deliver projects and services, the trend presents an ongoing need for vigilance and fiscal responsibility.

“It's important to note that there is an ongoing need for Council to continue to revisit services and infrastructure and ensure their efficiency. We need to get the best value for money in how we deliver on community expectations, and external funding opportunities are a critical part of how we do that,” Cr Holt added.

While Council’s budget expects $13.1 million in rates and charges from across the municipality, this represents only 26% of its income; 70% of Loddon’s anticipated revenue will be funded by external grants.

“Ongoing financial support from other levels of government is vitally important to small rural councils and Loddon Shire is not isolated in that need,” Cr Holt said.

“We encourage our State and Federal representatives to continue to support Loddon Shire residents through increases to funding programs such as the Federal Financial Assistance Grants and the Roads to Recovery program.”

The Loddon Shire Council 2024/25 Budget can be accessed at Council offices in Wedderburn or on Council’s website.