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Warrnambool City Council

Wbool Rates To Increase

Wbool Rates To Increase

Warrnambool City Council

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.

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Media Release from Council:

At its March meeting Warrnambool City Council voted to apply to the ESC to vary the rate cap.

The proposed variation was for an additional two per cent above the cap of 2.5 per cent for the next three financial years.

The ESC approved the proposed higher cap of 4.5 per cent for 2019-2020 and 2020-2021 but not for 2021-2022.

The ESC stated that it was “satisfied the approved higher caps are appropriate, because the council faces immediate and ongoing funding pressure”.

“The ESC, the independent regulator that promotes the long term interests of Victorian consumers with respect to the price, quality and reliability of essential services, assessed Council’s submission over several weeks before reaching its determination,” Council Chief Executive Officer Peter Schneider

“The ESC was satisfied that Council was using other available means to contain expenses and to generate revenue.

“While the ESC was assessing the application Council prepared two draft budgets – one with a rate cap variation, the other with a variation.
“Council now has the option to adopt a budget with the rate cap variation when it meets on June 24.”

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