Lockyer Valley Regional Council hands down its 2024/25 Budget

Lockyer Valley Regional Council has today handed down its 2024/25 Budget – one that aims to get the balance of a growing community and cost-of-living challenges just right.

The $115.55M Budget provides an operating revenue of $83.00M and an operating expenditure of $82.91M, with a further $32.64M earmarked for capital projects including road network upgrades.

When handing down the Budget today, Mayor Tanya Milligan said it showed a strong commitment from Councillors to keep rates as low as possible while achieving the perfect balance between the rising cost of services with the community’s ever-changing expectations.

The balanced 2024/25 Budget predicts a very small operating surplus of $0.096M for the year.

“The very small surplus reflects Council’s efforts to keep the Budget as tight as possible in these tough economic times, which are having a notable impact on households across our region.

“The average general rate increase in this Budget is 3.9 per cent, while fees and charges will increase by 5 per cent to meet the rising cost of providing those respective services.

“As Mayor, I am proud to say that Council has demonstrated its financial management track record by consistently operating within its budget and keeping rate increases low, an example being over the past four years our rate increase has averaged 3.20 per cent, which is well below the CPI of 5.12 per cent.

“Moreover, over the past 10 years the average rate increase sits at just 2.69 per cent – consistent with CPI.”

Mayor Milligan said this Budget reflected Council’s commitment to continue building the foundation for a prosperous future for the region’s residents.

“This demonstrates Council’s longer-term, concerted commitment to find the balance between minimising the impact on our families, while also delivering on the growing range of services the community expects.

“The average owner-occupied residential home will experience a rate increase of approximately $65 for the year and, combined with levies, have a total increase of approximately $108 for the year.

“A strong and responsible Budget provides the cornerstone for success for any Council and community, and that is what we have committed to delivering,” she said.

After paying down all debt in the previous term, Deputy Mayor and Finance Portfolio Councillor Chris Wilson said this year’s Budget would maximise the number of services Council could provide to the community, while maintaining responsible and sustainable financial management.

“As a Council, we are aware of cost-of-living pressures which is why we have again kept the rate increase to the absolute minimum needed to provide the services we are responsible for.

“The overall rates increase of 3.9 per cent will see an average weekly increase of just $1.26 for the average residential homeowner,” Cr Wilson said.

In an effort to smooth the impact of substantial increases in recent land valuations by the Valuer General, Council will continue to implement a three-year averaging process. Further to this, Council has reviewed the rate in the dollar for each rating category and band to reduce the actual dollar impact on households.

“Rates only make up a little over half of the total income Council receives yet paves the way for us to deliver the range of services the community expects.

“Our wish is for this Budget to set us in good stead for our future, while not burdening the next generation with any issues that can be addressed now.

“For many of us, that generation includes our children and grandchildren, which is extra incentive to act responsibly,” Cr Wilson said.

Having recently completed flood recovery roadworks from the 2022 severe weather events, Council crews will now move their focus to more routine maintenance and resealing projects.

Road maintenance is vital and best achieved through resealing or resheeting roads, Cr Wilson said.

“This not only extends the lifespan of our road network, but also makes our roads more resilient to weather events.

“Investing in upgrades, repairs and maintenance for our road and community assets will continue to remain a priority,” he said.

Across both capital and operational budgets, during the 2024/25 year Council will spend:

• $44.82M to spend on keeping our roads, bridges and footpaths in good repair;
• $10.81M on waste management; and
• $11.72M on community facilities, parks and cemeteries.

Mayor Milligan said Council remained incredibly thankful for the grants received from other levels of government and acknowledged the vital role in ensuring our community’s wellbeing.

“Council will continue to advocate for increased grants, or for other levels of government to ensure they give us the funds to deliver the services and programs they are shifting onto our shoulders.

“There is no denying – the Lockyer Valley provides a wonderful lifestyle for residents to enjoy.

“I believe this is a Budget that ensures we protect and maintain the assets we currently have while continuing to build a firm foundation for the future of our region.

“I would like to thank my fellow Councillors, the Executive Leadership Team and Council staff for their roles in this very fiscally responsible budget,” Mayor Milligan said.

Council has retained its rating concessions for pensioners and for ratepayers who pay their General Rates and Waste and Recycling Collection Charges in full by the due date. The Rural Fire, Emergency Preparedness/Disaster Management, and Resilient Rivers Levies also remain unchanged.

For further information, visit www.lockyervalley.qld.gov.au or contact Council on 1300 005 872.