The 2026-27 Budget delivers a cash surplus while reducing debt and keeping rate increases at 2.75%, in line with the State Government cap, and below inflation, while continuing to invest in the infrastructure, services and projects the Greater Geelong community relies on every day.

It also reflects a commitment to long-term financial stewardship, with $27.5 million in debt reduction over the next 12 months, and a clear pathway to operating surpluses.

The budget invests in a $171.6 million capital works program, with key investments in asset renewal.

It also includes funding to deliver several major projects, which will either be completed or see substantial progress in the coming year, including Stage Two of the North Bellarine Aquatic Centre, Drysdale Sporting Precinct, the final stage of upgrades to Landy Field and the Yirrama Community Hub in Armstrong Creek.

The result delivers a positive result despite broader challenges, including Greater Geelong's status as one of Australia’s fastest growing regions, cost-shifting from other levels of government, and rising costs due to global uncertainty. 

As part of this year’s Budget, Council will use the valuable insights and comprehensive data gathered from the successful Central Geelong 2P free parking initiative to undertake a significant review of parking arrangements across the municipality, helping shape a more informed long-term approach.

The budget was shaped through healthy community engagement, which commenced back in February, including a new deliberative community engagement panel of 38 residents representing diverse demographics, and 11 councillor listening posts, along with online submissions.

Meanwhile, the second-year update of the Council Plan reflects on what was achieved in the first year, with 97 per cent of the Council's 31 major initiatives on track, with the second year to build on this success to continue working towards the priority objectives.

The 2026-36 Long Term Financial Plan, also adopted by Council, presents a clear roadmap to ensure that the City can meet the Council Plan objectives while remaining financially sustainable.

Deputy Mayor Eddy Kontelj:

This is a measured, balanced and responsible budget that invests where it matters most, supports our community at a time of cost-of-living pressures through the delivery of essential services and important capital and infrastructure projects, while ensuring long-term financial sustainability.

Importantly, we are living within our means, paying down debt, delivering a cash surplus and continuing the critical work of strengthening Council’s balance sheet.

It’s also pleasing to see that we remain on track to deliver 97 per cent of the initiatives outlined in the Council Plan, while our Long-Term Financial Plan provides a clear pathway to ensuring Council’s financial sustainability well into the future.

Finance Chair Cr Andrew Katos:

We want to be a council that lives within its means, and that means continuing to work in balance sheet repair.

Paying down $27.5 million in debt will make a huge difference for the future, and it's also pleasing that we have a clear pathway towards long term operating surpluses.