City of Greater Bendigo Annual Budget 2014/2015

Budget Processes
This section lists the budget processes to be undertaken in order to adopt the Budget in accordance
with the Local Government Act 1989 (the Act) and Local Government (Planning and Reporting) Regulations
2014 (the Regulations).
Under the Act, Council is required to prepare and adopt an annual budget for each financial year.
The budget is required to include certain information about the rates and charges that Council
intends to levy as well as a range of other information required by the Regulations which support
the Act.
The 2014/2015 budget is for the financial year 1 July 2014 to 30 June 2015 and is prepared in
accordance with the Act and Regulations. The budget includes financial statements, being a
budgeted Income Statement, Balance Sheet, Cash Flow Statement, Capital Work Statement,
Statement of Changes in Equity and Statement of Human Resources. These statements have been
prepared for the year ended 30 June 2015 in accordance with the Act and Regulations, and are
consistent with the annual financial statements which are prepared in accordance with Accounting
Standards. The budget also includes detailed information about the rates and charges to be levied,
the Capital Works program to be undertaken, the human resources required, and other financial
information, which Council requires in order to make an informed decision about the adoption of
the budget.
The preparation of the budget began with Officers preparing the operating and capital components
of the annual budget between November and February. A draft consolidated budget was considered
by Councillors at briefings in April. The proposed budget is submitted to Council in May for
approval in principle, Council is then required to give public notice that it intends to adopt a budget.
It must give 28 days notice of its intention to adopt the proposed budget and make the budget
available for inspection. Any interested person has a right to make a submission on any proposal
contained in the budget and any submission must be considered before adoption of the budget by
Council.
Council undertakes media briefings, promotion and displays copies of the proposed budget in the
local media and on the City of Greater Bendigo's website. Hard copies are also available at Council
offices. The final step is for Council to adopt the budget after receiving and considering any
submissions from interested parties. The budget is required to be adopted and a copy submitted to
the Minister by 31 August each year. The key dates for the budget process are summarised below:
Budget process
Timing
1. Officers prepare operating and capital budgets Nov/Mar
2. Council considers draft budget April
3. Proposed budget submitted to Council for approval 28 May
4. Public notice advising of Council’s intention to adopt the budget 31 May
5. Budget available for public inspection and comment
31 May to
27 June
6. Submissions period closes (28 days) 27 June
7. Submissions considered by a Committee of Council 2 July
8. Budget and submissions presented to Council for adoption 30 July
9. Copy of adopted budget submitted to the Minister 1 August
Greater Bendigo City Council Budget – 2014/2015 6