The stamp of approval has been given to the City of Greater Bendigo’s next budget.
A council meeting held last night (Monday, June 15th) saw the City’s financial plan for 2026/27 receive unanimous support.
Seven of the City’s nine elected members were present for the vote, with Whipstick Ward representative Owen Cosgriff issuing an apology for his non-attendance prior to the meeting, and Axedale Ward’s Shivali Chatley away on a planned leave of absence.
All seven of those present spoke about the importance of the budget during the meeting, including Mayor Thomas Prince.
“This budget has been developed at a time when many in our community are feeling the impact of rising costs, and at the same time, councils – just like households – are being asked to do more with less,” Mayor Cr Prince said.
“We’re operating in a rate-capped environment with a 2.75 percent rate cap while facing increasing demands for services, and rising costs to deliver them.”
The Mayor also said the budget strikes a “really good balance”.
“It’s a budget grounded in financial responsibility and discipline; one that ensures that we are living within our means, maintaining a strong financial position, and making careful, considered decisions about how we allocate every dollar.”
This latest budget will see the City spending $280 million over the next financial year.
That includes $97m worth of capital works on projects such as the continued redevelopment of the Bendigo Art Gallery, and the ongoing construction of the Low Line walking and cycling trail along the Bendigo Creek.
Other projects being funded are a renovation of the conservatory near Rosalind Park, and renewal of the Strathfieldsaye Recreation Reserve’s cricket wicket and oval.
Council has also indicated it’ll need to borrow $7.3m in funds to “strategically support capital delivery while maintaining financial sustainability.”
A budget document tabled at the meeting forecasts debts of $10m in 2027, rising to $26.6m by 2031.
There’s a silver lining for ratepayers though: the cost of bin and waste collection services will not rise next financial year, remaining the same as current levels.
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