The Devonport City Council will formally consider the adoption of its 2023/24 budget at its meeting on Monday night. Council has announced the budget is based on a conservative rate increase of only 3.9% for the upcoming financial year, reaffirming its commitment to the community while addressing the cost-of-living pressures faced by its ratepayers. This modest increase is a testament to the Council’s sound financial position and its mindful approach to balancing the needs of the community with responsible fiscal management.
The Council recognises the financial challenges faced by residents and has taken proactive measures to minimise the impact on households. Benefiting from its investment in the LIVING CITY initiative, the Council has in recent years experienced strong growth in its rate base and other revenue streams allowing a low-rate increase, alleviating the burden on ratepayers whilst achieving a healthy operating surplus for future financial sustainability.
Mayor Alison Jarman expressed her satisfaction with the Council’s budgetary decisions, stating, “We understand the strain on our residents due to the rising cost-of-living. Therefore, we have made a conscious effort to keep the rate increase to a minimum. This decision reflects our commitment to the well-being of our community and demonstrates our dedication to supporting our ratepayers during difficult economic times.”
“We appreciate there are those in our community who are finding it difficult at the moment and remind the community of Council’s hardship policy which outlines options for those needing support,” said Mayor Jarman.
Council’s General Manager Matthew Atkins said it was a sensible budget which balances cost of living pressures with ongoing investment in infrastructure and the continuation of all the important services Council provides.
“With strong financial results for several years now, Council is seeing benefits from its bold investment in LIVING CITY, allowing constraint with rate increases without cutting services or holding back capital investment. Council has budgeted for $13.8 million in new capital expenditure, which when combined with ongoing projects will create over $20 million in construction activity during this financial year, in addition to normal operational maintenance works”.
“Budgeted annual income is estimated at $49.15 million with expected expenditure of $46 million resulting in an estimated operating surplus of $3.1million and an underlying result of $2.5 million for the year”, said Mr Atkins.
The Devonport City Council has enhanced its strategic planning framework as part of the budget deliberations, developing a Term Plan that outlines the Council’s ambitions and priorities for the next four years, in response to its 2009-2030 Strategic Plan.
“With a newly elected council, the Term Plan has been an excellent opportunity to discuss our diverse views and experiences and develop a clear united plan. It highlights the vision and aspirations we have for the city by 2026 and the outcomes we are committed to achieving for the community”, said Mayor Jarman.
“Whilst the future of local government in Tasmania remains uncertain, we have a clear plan for the next four years. We will continue to create a prosperous future for Devonport and its residents. Together, we will make a difference”, Mayor Jarman said.
The Devonport City Council’s prudent financial management, coupled with a focus on strategic investments and commitment to the term plan, exemplifies dedication to serving the community’s best interests. By balancing the needs of the community with responsible fiscal management, the Council remains committed to providing essential services, improving infrastructure, and creating a thriving future for the City of Devonport.