The City of Melbourne has unveiled its draft Annual Plan and Budget 2019-20, detailing $619 million in initiatives and spending.
The City’s Chair of Finance, Councillor Arron Wood, said that the new budget was tailored to respond to population growth pressures and continuing to ensure the city maintains its livability and sustainability.
"At the same time as delivering for families and communities, this is a disciplined draft Budget that doesn't blow out costs, and delivers an underlying surplus of $15.03 million,” Cr Wood said.
Lord Mayor Sally Capp said people are at the heart of all of the major initiatives outlined in the draft Budget, with a record $166 million investment in capital works over the coming year.
"Above all else, Melbourne needs to be a city for people. This draft Budget reflects a long-term vision that keeps people safe, that keeps us connected through world-class transport, and that offers plenty of open space, parks and festivals to bring people together.
"We're making a significant investment in childcare, aged care, sport facilities and other services. Extra effort will go towards helping rough sleepers find a bed and a long-term pathway out of homelessness."
Public submissions on the draft Annual Plan and Budget 2019–20 are open from Friday 10 May, until Friday 7 June. Submissions will be considered at a special meeting of the Future Melbourne Committee on Thursday 13 June 2019. To issue submissions, visit participate.melbourne.vic.gov.au
Total draft Budget: $619 million
A record $453 million in programs and services
Fully funded $166 million capital works infrastructure program
Underlying surplus of $15.03 million
Net assets to grow to more than $4.5 billion
Operating cost increases contained to 3.9 per cent
65 initiatives to be completed in third year of Council Plan 2017–2021
Total income including rates and charges: $523 million
2.5 per cent increase in rates (in line with Victorian Government rate cap