The City of Sydney's draft budget for 2011-2012 is now on public exhibition and showcases the organisation's continued focus on responsible financial management. The draft budget is included in the City's Operational Plan (2011/12) which sets out projects and programs we will undertake over the next 12 months and which is also on public exhibition.
Building on the City's strong financial position, we have an operating income of $460.1M for the next financial year - $31.9M more than 2010/11 and our operating expenditure is set at $355M.
The City will have an operating surplus of $105M - a $15M increase compared to last year. This surplus will be invested in the City's reserves so we can continue to implement key Sustainable Sydney infrastructure projects and provide more community facilities over the coming years.
Most fees and charges are proposed to increase in line with CPI. The draft Budget adopts the State Government's 2.8 per cent rates cap which keeps the average City residential rates among the lowest for metro councils. Eligible pensioners will also continue to receive 100 per cent rebates on all rates, domestic waste and stormwater charges.
The draft capital works program of $147.9M includes:
- Completion of the Prince Alfred Park Pool, Coronation Centre refurbishment and the Waterloo Youth Facility;
- Refurbishments of Glebe Town Hall and Paddington Town Hall;
- Conversion of the Burton Street Tabernacle into a community and cultural centre;
- The Wentworth Avenue separated cycleway,
- Design work to create a community sports facility at Perry Park; and
- The initial rollout of Light Emitting Diode (LED) lighting throughout the city.
The City's ongoing public domain, building, streetscapes, parks, pools, trees and bicycle related works are also included.
The draft budget continues our substantial program of community and cultural support including our aged, youth and homeless services, a large Grants and Sponsorship Program, events, festivals and celebrations such as New Year's Eve and Chinese New Year and the Living Colour and street garden programs.
Copies of the draft documents are available from our City, Glebe, Kings Cross, Green Square and Redfern service centres. You can also view them at our libraries, community centres and on the City's website.
Submissions close at 5pm on Tuesday 14 June 2011.
- Draft budget and other strategic planning documents: www.cityofsydney.nsw.gov.au/Council/OnExhibition/
- Report to Council: http://www.cityofsydney.nsw.gov.au/Council/MeetingsAndCommittees/2011/Committees/090511/finance.asp