Latrobe City Council adopted the 2024/25 Budget at its most recent Council meeting, following a community consultation process.
The 2024/25 Budget includes a $29.8 million investment in Council’s capital works programs across all parts of the municipality, with an additional $38.8 million contributed from continuing projects included in prior year budgets. The total program includes an allocation of $13.3 million to maintenance and renewal of the road network.
Major capital works projects in progress that will continue into the 2024/25 budget include Marshalls Road/Traralgon-Maffra Road Signalised Intersection, next stage of the Gippsland Logistics Precinct, continued delivery of the Regional Car Parks Fund in Traralgon and Morwell, flood recovery projects and refurbishment of Park Lane Pre School in Traralgon.
Mayor of Latrobe City Council, Councillor Darren Howe, said supporting these major projects will improve community assets, support local jobs and address community priorities as outlined through the community consultation process.
“This significant capital works program is essential to strengthening the region’s workforce, infrastructure and liveability, and invests in areas that will help boost Latrobe City’s economy, generating population growth and attracting new visitors,” said the Mayor.
“We received over 300 submissions in relation to the draft budget via Council’s Have Your Say Latrobe City platform. This feedback helped Council understand what areas and services are of highest importance to the community such as Public Open Space, Family Services, Parking, Footpaths and Roads. We appreciate the contribution from community members, understanding community priorities has helped inform the development of the budget and has been invaluable.”
The 2024/25 Operating Budget has been balanced on a cash basis, and includes raising rates and charges of $95.2 million out of total revenue of $187.3 million. Consideration has been given to the use of any full year cash surplus position that may eventuate in 2024/25 against the adopted budget, with 50% of any surplus position to be allocated to the Transition Reserve to further support Council’s Our Transition Plan and Economic Development Strategy.
West Ward Councillor, Councillor Bradley Law, said this consideration highlights Council’s commitment to transition and securing a sustainable future for the community.
“This budget has a strong emphasis on long term financial sustainability. To facilitate transition towards an economically viable future, it is the role of Council to build a better region through maintaining and developing infrastructure. It is great to see this has been a key priority in this year’s budget,” said Councillor Law.
The budget has been responsibly developed, maintaining existing services and service levels while also encompassing a renewal budget which seeks to maintain existing infrastructure to identified intervention levels.
In line with the Victorian Government’s Fair Go Rates System, a rate increase of 2.75% will apply.
The 2024/25 Budget can be viewed online on Council’s website:
