South Burnett Regional Council Budget Highlights 2022-23
Financials Improve with Challenges Ahead
Preliminary results for the 2021/22 financial year show that the South Burnett Regional Council will record a small surplus despite being affected by reduced federal government funding and substantially increased costs.
“Early payment of the financial assistance grant contributed to the result, with the Council again returning a better than forecast financial position than the original budget adopted for the 2021/22 financial year. Importantly, this has been done with lower than CPI rate increases and reduced debt levels,” said Council CEO Mark Pitt.
The 2022/23 financial year budget has been adopted after six months of deliberations including more than a dozen workshops and live streamed Budget committee meetings involving Councillors and the Executive Leadership Team.
Mr Pitt noted that “the work is not over with the adoption of this budget as this new financial year will be one of the most difficult yet due to the impact of external influences beyond Council’s control, especially the forecast unjust reduction in next year’s financial assistance grant, exacerbated by the recent revaluation of properties within the region.”
“Council will continue its advocacy to all levels of government to prosecute our argument for a fair and equitable distribution of funding to our communities,” said Mayor Otto.
Overall total rates revenue in the 2022/23 budget will increase by 4.97% compared to a CPI rise of 5.1% resulting in an anticipated collection of $53.952M which represents 74.48% of operating revenue, the balance being made up from grants, fees and charges, interest earned and other revenue streams.
“Our focus has been on retaining service levels while making savings by being better at what we do,” said Mark Pitt. “Council continues to reduce its debt levels for the fourth year in a row and any future loans will be directed towards essential water infrastructure.”
“This year we will continue to restore the road network from the large amount of flood damage from an unprecedented four declared flooding events in the 2021/22 financial year.
“It is estimated that the total repair works to be undertaken will be in the vicinity of $20 million and Council acknowledges the strong support of the state and Commonwealth governments through the restoration of public assets program.
“This work will provide economic stimulus for our community, not only directly with the engagement of local contractors and jobs but indirectly with the flow- on to the business community.
“Council has been successful in securing significant funding from both levels of government, particularly the Commonwealth’s Local Road and Community Infrastructure Program and the Building Better Regions Fund, and the state government’s Works for Queensland program. This funding will assist Council to deliver the capital works program of maintenance and minor works of essential services, thereby supporting local jobs and the regional economy.”
Council will undertake a significant Capital Works program, with a budget of $32.622M including Council’s contribution of $22.463M.
Some key projects to the value of $26.549M include:
- Roads - $17.188M
- Water - $3.633M
- Wastewater - $1.454M
- Plant & Equipment - $4.274M
