Council Gets Approval For Rate Increase
The Warrnambool City Council has had it's application for a higher rate increase approved by Essential Services Commission.
The commission has approved a 4.5 percent rate increase for two years which is 2 percent over the cap.
Council is expecting to raise an extra $3.4 million for spending on assets including bridges, footpaths, cycleways and parks.
The commission head of price monitoring and regulation Marcus Crudden says while Warrnambool originally applied for three years, the commission has limited it to two.
“The commission recognised that Warrnambool had identified significant challenges in the short term, but said it needs to do more in the medium term to stabilise its financial position.”
“We expect council to continue its program of service reviews and community engagement as it strives to identify a pathway to financial stability,” he said.