Banana Shire Council Budget for Year Ended 30 June 2023
Banana Shire Council Budget for Year Ended 30 June 2023
Banana Shire Council Budget for Year Ended 30 June 2023
Banana Shire Council has delivered its budget for the year ended 30 June 2023. The operating budget for the year is $99,000,000 with a capital budget of $37,000,000 with almost half of this amount being funded through grants and subsidies. Council has continued its financial sustainability improvement strategy by adopting an operating surplus of $623,000 for the year ended 30 June 2023 and a net result after capital items of approximately $17,534,504.
Rates and charges for the year are expected to increase by 1.84% across all categories with most ratepayers experiencing an increase of between 3% and 4%. Council has actively pursued external funding opportunities to reduce pressure on rates to fund the Shire operations.
Key highlights of the 2023 budget include the construction of a new Library and Museum facility in Moura, major investment in upgrading roads, water infrastructure and waste management facilities. In addition, Council has received significant funding from the Queensland Reconstruction Authority and expects to complete $20,000,000 worth of flood repair work within this budget.
Council expects to deliver its first operating surplus in five years this year of $4,899,258 for the year ended 30 June 2022. This result was achieved by targeted rate increases, actively pursuing funded works, prepayment of grants for flood damage and constraining unnecessary expenditure. Council’s net result, including capital items is expected to be a $10,118,036 surplus.
Council’s net financial position remains strong with high liquidity levels including cash balances of $44,352,386.
Council has delivered this financial result while continuing its investment in upgrading roads and water infrastructure over the past year delivering a record capital works program valued at $29.26 million dollars, including $4.86 million on fleet upgrades.
Projects included:
- Taroom Sewerage Treatment Plant…… ………………… $2,700,000
- Theodore – Moura Road …………………………………... $2,246,138
- Aerodrome Road-Kariboe Creek Bridge ……………….... $1,720,000
- Dunn/Raedon Street Intersection……………. ………….... $ 344,000
- Dwelling Purchase 96 Kariboe Street …………………….. $ 250,000
- Valentines Plains Road…………………………..………… $ 224,000
- Dunn/ Dawson Street…………………………….. ………… $ 207,000
- Defence Road………………………………………………... $ 183,000
- Banana Baralaba Road………………. ……………………. $ 178,000
- Charles Street Banana ………………..... …………………. $ 165,000
Rates and charges for the year are expected to increase by around 3% - 4% for most ratepayers although there will be some variations to this as capping is wound back for some ratepayer categories and Council continues its strategy of aligning its rating to reflect the impact of major industries on Shire infrastructure.
Council will also be adjusting rates this year to address a valuation anomaly for Anglo Coal in 2022. The net increase in rates and charges is 1.84% across all catergories.
This budget provides for a large capital works program for 2023 with a total spend of $37,000,000 approximately half of which will be funded by external sources.
Key projects in each category include –
- Moura Library/ Museum…………………………………….. $5,300,000
- Injune Road; road widening and seal……………………... $2,528,800
- Banana Shire waste management facility…………………. $2,186,430
- Three Chain Road; pavement widening, reconstruction
and bitumen seal…………………………………………….. $1,400,000 - Moura WTP Clarifier………………………………………… $1,000,000
- Theodore heavy vehicle bypass……………………………. $ 852,000
- Theodore; road widening, reconstruction & bitumen seal…$ 800,000
- Deanne Road formation, draining and pavement…………. $ 800,000
- Defence Road; gravel resheeting………………..…………. $ 656,000