An update on the 2022-23 Annual Budget

Published on 28 April 2022

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Since November 2021, the Victoria Park Council has been meeting with various members of Town staff via scheduled workshops to prepare the Town's budget for the 2022-2023 financial year.

These workshops have been designed to give Elected Members all the necessary tools and learnings to make carefully considered decisions that best reflect the will of the community and needs of the Town.

In recent weeks, and taking into account feedback received from the community as part of the Town's participatory budget approach, Council’s final budget workshops have focused on determining the final service levels, strategic and capital projects to be delivered in 2022/23, aligned with the 3 budget themes endorsed through the community participatory budgeting process:

  • Clean and green Vic Park
  • Thriving and vibrant Vic Park
  • Improving the Town’s financial health 

Why is "Improving the Town's financial health" a budget theme this year? 

  • In the 2019/20 budget, Council made no increase to rates.
  • In the 2020/21 budget, Council approved a 7.88% reduction in rates, with no increase in fees and charges, primarily in response to the economic impacts of the COVID-19 global pandemic.
  • In the 2021/22 budget, Council increased rates by 0.88%

Since April 2020, the impact from the global pandemic has led Council to make short-term support for the community a priority – this has been reflected in business relief initiatives, community group financial concessions and significant rates concessions. Like most organisations and businesses, the Town has also experienced periods of lost revenue from government shutdowns. 

The Town’s role is to advise Council about the implications of the last couple of years on the Town’s financial sustainability, its ability to meet the medium to long-term aspirations in the Strategic Community Plan and Long Term Financial Plan, and how the Town’s financial health may be improved through the Annual Budget. 

Ultimately it is Council’s decision how to achieve that financial sustainability in the best interests of the community.

Further updates will be made available as the Town nears the announcement of the 2022-23 budget. For more information on the construction of the budget so far, click here.