Financial Management
Annual Budget
Sorell Council endorsed the Annual Plan and Budget for the 2024 – 2025 financial year at the Special Council Meeting 25 June 2024. Council approved a rate rise of 4.5% in line with the Long Term Financial Plan and the Long Term Asset Management Plans which continues the focus on ensuring the long term sustainability of Council.
The budget for 2024 – 2025 provides funding for essential services, maintenance of existing assets and new infrastructure growth. The focus continues to be on maximising the community’s assets and infrastructure for their useful life, with limited funding for new infrastructure.
The annual budget is made up of the Operating and Capital Budget
Capital Budget
Councils’ Capital Budget for 2024-2025 provides funding for essential services, maintenance of existing assets and new infrastructure growth. This budget commits $16.9 million for capital works projects (inclusive of carry forwards) and sees funding for the following:
- $4.2 million for upgrade and renewal of roads
- $2.1 million for upgrade and renewal of footpaths and cycleways
- $3.9 million for upgrade and renewal of stormwater infrastructure
- $0.7 million for improvements and upgrades to our parks and reserves
- $5.5 million for building works and facilities
Some of the works and projects we will be undertaking this financial year include:
- Continuation of Streetscape works in Sorell
- Bus stop upgrades at the Park and Ride in Sorell
- Upgrade of Stormwater outfalls in the Southern Beaches
- Construction of the South East Jobs Hub
- Public toilets at Madison Lyden Park
- Extension of the Sorell Memorial Hall to provide a green room, history display and storage areas.
- Upgrade at Dodges Ferry Skate Park
- Reconstruction of sections of Allambie, White Hill, Delmore Roads and Oak Street
Fees and Charges
Our fees and charges schedule includes fees and charges for planning, building, dog registrations, environment and health services, engineering, hall and sporting facility hire and more.
Long Term Financial Plan
In accordance with the Local Government Act 1993, Council must develop and adopt a Long Term Financial Management Plan (LTFP) and Financial Management Strategy (FMS).
The LTFP and FMS enables Council to plan the financial sustainability of the organisation over a minimum 10 year term.
Council’s LTFP and FMS have played a significant role in Council improving its financial sustainability, increasing its commitment to maintaining and renewing its asset base, planning for major projects, and aligning resources to achieve its strategic objectives.