Our Council has released its Proposed 2024-25 to 2027-28 Budget for community feedback.

The budget aims to deliver facilities and services to meet the community’s needs, while helping the Council remain financially sustainable in a challenging economic environment.

The proposed budget forecasts a small operating surplus of $2.07 million in 2024-25, while containing total average rate rises to the 2.75 per cent Victorian Government cap.

The Council’s strong focus on new and upgraded facilities to cater for Greater Geelong’s growing population will continue.

A proposed capital works program totalling $210.5 million in 2024-25 and $752.6 million over the next four years will result in new or improved sporting facilities, community centres, parks and reserves across the region.

The works will be delivered via a combination of direct Council funding, state and federal government grants, and developer contributions.

Major projects added or reinstated to the four-year capital works program include:

• Pavilion and athletics facilities upgrade at Landy Field, South Geelong;
• redevelopment of the Chilwell Library;
• flood mitigation works in Kyema Drive, Lara;
• female-friendly changeroom upgrade at Queens Park, Highton; and
• a new bike park in Ocean Grove.

In addition, the budget includes significant investment for environmental protection initiatives, including capital funding to enable the City to introduce a Food Organics Garden Organics (FOGO) kerbside collection service in the coming years, with materials processed locally.

There is also extra funding in 2024-25 to support community-led projects, with the Community Grants allocation lifted by $431,000 to just under $4.48 million.

The budget includes measures to help stimulate the local economy, with commercial and industrial rates further decreasing in line with a 10-year plan put in place in 2021, and fees for al fresco dining and busking cut in half.

Libraries have received a jump in funding to $15.5 million, including a direct cash contribution to the Geelong Regional Library Corporation of almost $14.52 million.

The $1.87 million cash contribution increase on 2023-24 levels will cover the GRLC’s operating costs for next financial year, including the new Armstrong Creek library once it opens.

Mayor Trent Sullivan:

With inflation still rising at a faster rate than the 2.75 per cent rate cap, we’re no different to most local governments in facing a challenge to balance our books.

We’re pleased that we’ve managed to deliver a small operating surplus while budgeting for a long list of exciting community facilities, continuing to support services our residents really value, and making important investments for our future.

The budget is responsible and will help us remain financially sustainable, but happily there’s also lots in it for the community.

Thanks to sound financial management and strong leadership from our Council, we have a draft budget that maintains or increases the level of investment in all of the areas we believe our community sees as very important.

We are continuing to focus on the things that are core to our role as a local government, while also making budget decisions that highlight our aim to cement Geelong as Australia’s premier regional city.

BUDGET SNAPSHOT - FACTS AND FIGURES

Operating result

The Council is budgeting for an operating surplus of $