City of Greater Bendigo Annual Budget 2014/2015

Chief Executive Officer’s Summary
Council has prepared a Budget for the 2014/2015 financial year which seeks to balance the demand
for services and infrastructure with the community’s capacity to pay. Key budget information is
provided below about the rate increase, operating result, cash and investments, capital works,
financial sustainability, financial position, and expenditure allocations of the Council.
Any columns in graphs below labelled A2012/13 reflect actual figures for 2012/13, F2013/14 reflect
forecast figures for 2013/14, A2013/14 reflects actual figures for 2013/14, columns labelled B2014/15
reflect budget figures for 2014/15 and columns labelled SRP reflect Strategic Resource Plan figures
for the financial years 2015/16 – 2017/18.
1. Rates
The general rates increase of 6.0% for the 2014/2015 year, will raise total rates and charges of
$93.39 million, including $12.2 million from garbage and recycling charges, and $1.93 million
generated from supplementary rates.
2. Income Statement Result
The budgeted operating result for the 2014/2015 year is an operating surplus of $12.07 million,
which is an increase of $3.21 million over the forecast result for 2013/2014. The increase is due
mainly to the net effect of increases in the cost of service delivery, additional contract payments as a
result of major project expenditure (refer section 4.3.2), increased depreciation, and the timing of
the Victorian Grants Commission funding which is based on receipt of two quarterly payments in
2013/2014, which increases the number of quarters budgeted to be received in 2014/2015 to the full
four quarters.
Greater Bendigo City Council Budget – 2014/2015 2