The revised Council Plan and proposed Budget 2018-19 has been prepared in-line with Council's commitment to sustainable budgeting, responsible financial management and the State Government’s rate cap for 2018-19.
It is the first budget to deliver on the recently adopted Boroondara Community Plan, providing high quality services and facilities to the community.
Over the next 10 years to 2027, 15,049 more residents will call Boroondara home. The proposed budget includes a number of significant capital projects to accommodate current needs and future demands as the City’s population continues to grow.
Capital investment over the next 4 years will include:
- $191.1 million renewal of existing assets
- $133.7 million in newly created community facilities.
This extensive program of city-wide improvement is able to be delivered due to Council’s sound financial management.
Financial risk monitoring
Boroondara’s financial risk rating is amongst the lowest of all Victorian Councils according to the Victorian Auditor General’s (VAGO) Financial Sustainability Risk Assessment Criteria. A full description of the risk assessment criteria is listed in Council’s 2018-19 budget document.
Capital works funds
Prudent financial management each financial year allows funds to be set aside to fund and deliver the capital works programs for the following year. This deliberate financial planning benefits the community by investing in maintaining its building assets for future decades and has placed Council in a sound position for the future without reducing services to the community or compromising the standard of maintenance on community assets. To this end, Council may be perceived as producing a ‘surplus’, at the end of a financial year, however, these funds ensure that Council renews appropriate levels of community infrastructure with a minimal reliance on debt.
Learn more about the proposed Budget 2018-19
See the full proposed Budget 2018-19.
Delivering what’s important to you
The Boroondara Community Plan 2017-27 is Council’s key strategic document for the next decade. When creating the plan, council consulted widely and 11,845 responses told us clearly that you value strong and trustworthy leadership, and decisions that ensure rates are spent efficiently and on things that are in the best interests of the community.