Banana Shire Council has delivered its budget for the year ended 30 June 2024. Council is currently projecting an operating surplus of approximately $3 million for the year ended 30 June 2023, subject to arrangements with federal assistance grants and asset capitalisation. Council’s net comprehensive income, including capital items is expected to be a surplus of $210 million following asset revaluations in the financial year.

Council’s net financial position remains strong with high liquidity levels including cash balances of $50 million.
Council has delivered this financial result while continuing its investment in upgrading roads and water infrastructure over the year delivering a modest capital program and a substantial investment in flood damage.
Major projects delivered include:
• Deearne Road – Gravel Resheeting……………………. $1,695,106
• Shire Urban Reseal………………………………………..$1,135,145
• Three Chain Road Reconstruction……………………….$1,084,792
• Defence Road – Gravel Resheeting……………………..$ 574,196
• Moura Pool Amenities & Shade Sail Upgrades…………$ 524,533
• Biloela Treatment Plant Electrical Renewal……………..$ 519,538
• Water Treatment Plant Existing Clarifier Replacement...$ 483,391
• Shire Rural Reseals…………………………………….….$ 457,144
• Lawrence Street Footpath…………………………………$ 439,011
• The Bend Road-Dawson River……………………………$ 271,720
Rates and charges for the year are expected to increase overall by around 5.37% with most ratepayers experiencing an increase of around 4% 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 events.
Council has received significant funding from the Queensland Reconstruction Authority to rectify flood damage that occurred in October/November of 2021. Council expects to complete $60 million worth of flood repair work with approximately $10 million worth of work to be delivered this financial year. This work will primarily be undertaken by contractors with local contractors participating in more than half of the spend.
Council has continued its financial sustainability improvement strategy by adopting an operating surplus of $1,149 million for the year ended 30 June 2024 and a net result after capital items of approximately $20 million. Council is adopting a $120 million operating budget this financial year.
This budget provides for a large capital works program with a total spend of $48.72 million approximately half of which will be funded by external sources.
Key projects include:
• Moura Library/Museum……………………………………$7,300,000
• Banana Shire Waste Management Facility……………..$5,401,000
• Cracow Road Upgrade…………………………………....$4,078,000
• Biloela Waterpark……………………………………….…$2,973,000
• Injune Road Upgrade……………………………………..$2,529,000
• Theodore Heavy Vehicle Bypass………………………..$2,130,000
• Orange Creek Road Rehabilitation……………………...$1,801,000
• Harsants Road Gravel Resheeting………………………$1,400,000
• Deanne Road Gravel Resheeting………………………..$1,011,000
The budget continues Council’s strategy of strengthening its financial position while also continuing to invest in infrastructure needs to support ongoing business investment as well as lifestyle outcomes for our community.