Draft Budget and Draft Financial Sustainability Strategy

Consultation has concluded

rural image in Central Goldfields Shire

The Consultation period has concluded, the draft budget and financial sustainability strategy will be considered for adoption at the Council meeting on 25 June 2024.


Draft Budget 2024 - 2025

Every year, Council develops a budget that implements the key objectives of the Council Plan 2021-2025 as well as our commitment to deliver more than 36 services for the community. 

The Draft Council Budget 2024-2025 was developed after much deliberation and consideration. Rising interest rates and the cost of living is having an impact on everyone - and Council isn't immune to these challenges either. 

The Victorian Government has enforced a 2.75% rate cap - given it's well below the increase in our actual costs it's been tricky for us to find a balance between financial sustainability and the wants and needs of our community. 

Despite these challenges we have developed a budget that continues to support our community.

We'll continue to deliver the 36 services you know and love - such as libraries, playgrounds, waste collection, parks and gardens just to name a few. 

We'll also deliver a $13.7 million capital works program and spend $3.85 million on upgrading and renewing our roads. 

We have also left enough room in our budget so that if we are successful with the many grant applications we are awaiting the outcome of, we'll have the funds to seize these opportunities and make them happen. 

Draft Financial Sustainability Strategy

Over the past few years there has been a large difference between actual CPI and the rate cap. This has begun to have an impact and so in response we have developed the Draft Financial Sustainability Strategy. 

Whilst we are still in a steady financial situation, there are signs of financial stress that we need to address early to ensure our financial health remains strong well into the future. 

The Strategy will guide Council on how to best manage our resources for the long-term in the best interests of our community.

The Consultation period has concluded, the draft budget and financial sustainability strategy will be considered for adoption at the Council meeting on 25 June 2024.


Draft Budget 2024 - 2025

Every year, Council develops a budget that implements the key objectives of the Council Plan 2021-2025 as well as our commitment to deliver more than 36 services for the community. 

The Draft Council Budget 2024-2025 was developed after much deliberation and consideration. Rising interest rates and the cost of living is having an impact on everyone - and Council isn't immune to these challenges either. 

The Victorian Government has enforced a 2.75% rate cap - given it's well below the increase in our actual costs it's been tricky for us to find a balance between financial sustainability and the wants and needs of our community. 

Despite these challenges we have developed a budget that continues to support our community.

We'll continue to deliver the 36 services you know and love - such as libraries, playgrounds, waste collection, parks and gardens just to name a few. 

We'll also deliver a $13.7 million capital works program and spend $3.85 million on upgrading and renewing our roads. 

We have also left enough room in our budget so that if we are successful with the many grant applications we are awaiting the outcome of, we'll have the funds to seize these opportunities and make them happen. 

Draft Financial Sustainability Strategy

Over the past few years there has been a large difference between actual CPI and the rate cap. This has begun to have an impact and so in response we have developed the Draft Financial Sustainability Strategy. 

Whilst we are still in a steady financial situation, there are signs of financial stress that we need to address early to ensure our financial health remains strong well into the future. 

The Strategy will guide Council on how to best manage our resources for the long-term in the best interests of our community.

Consultation has concluded

  • Draft Budget 2024-2025 Highlights

    Capital works program highlights

    • Completion of renewal works at Maryborough Town Hall
    • Completion of Octagonal Pool project at Maryborough Outdoor Pool
    • Completion of Goldfields Reservoir Dam stabilisation works
    • Delivery of road reseals and asphalt program
    • TAC Road Safety Program including speed reductions, roundabouts and splitter islands
    • Demolition of the old Skate and Scooter Park
    • IT upgrades to improve customer experience

    Projects subject to funding

    • Castlemaine Maryborough Rail Trail pre-construction project
    • Victorian Goldfields World Heritage bid touring route development
    • Improvement works at impacted floodways
    • Implementation of Tiny Towns projects across the municipality

    Other key projects

    • Construction of new toilets in Rene Fox Gardens Dunolly
    • Finalisation of the Maryborough Heritage Review to ensure appropriate protection is maintained on high heritage value assets
    • Commencement of work on the urban land opportunities study for townships around Maryborough to identify opportunities for increased housing
    • Finalisation of the Preliminary Talbot Heritage Review
    • Continuation of work on the Land Use Framework Plan for Maryborough North, Flagstaff and Carisbrook to identify locations for future greenfield residential development
    • Proactive building renewal program
    • Local Laws review – under Local Government Act
    • Feasibility and design work for new Youth Hub
    • Scoping and design for key heritage preservation projects on facilities such as Princess Park Grandstand, Carisbrook Town Hall, Talbot Town Hall and Dunolly Town Hall to improve opportunities in gaining external funding for major required renewal works

    Grant funded projects that will continue or begin in 2024/25 include

    • Engage Youth Program
    • Freeza Program
    • L2P Program
    • Municipal Emergency Resourcing Program
    • Kerbside Reform support
    • Live4Life Program
    • Emergency recovery coordination (flood, storm and fire claims)

  • Why have we developed a Financial Sustainability Strategy?

    Like all councils in Victoria, we are facing challenges to our financial sustainability from rising cost pressures, rate capping and cost-shifting, along with increasing pressure and demand on our services and infrastructure.

    A Financial Sustainability Strategy has been prepared to identify reforms which will provide direction on how to achieve a healthy long-term financial position.

  • What is a Financial Sustainability Strategy?

    Financial sustainability means consistently having sufficient reserves to meet unforeseen or emergency expenses like the flood or fire, without relying on borrowing or compromising essential services.

    Like most councils, we currently have a 10 year Financial Plan 2021-2031 which helps inform Council planning. This plan predicts the funding we will need to fulfil the needs of our community, along with where we are expected to be financially in the next 10 years.

    The draft Financial Sustainability Strategy looks at those predicted numbers and identifies strategic ways to address them, so that we can improve our financial health and deliver for our community now and into the future.

    The Strategy sets out strategic reforms to ensure that future investment decisions are based on need, underpinned by evidence, and guided by informed strategies. It also includes practical and achievable actions and outcomes.