The draft budget for the next financial year is set to be adopted by the councillors on April 29 so it can go out on public exhibition.
The long term financial plan includes a preferred scenario of keeping the Coast’s current rate rise beyond 2031.
The Central Coast is operating under a Special Rate Variation (SRV) which is supposed to drop off in 2031, meaning rates should reduce by a combined $31M.
But council has put out a draft budget for next year with a long term plan that includes keeping that SRV.
It would mean the Council would have to apply to IPART -the Independent Pricing & Regulatory Tribunal – for what would basically be another rate rise.
Council will argue that it isn’t a rate rise, because the net result would be that rates would not increase beyond the yearly rate caps.
But rates are due to drop in 2031 by $31M.
The preferred scenario would recoup that $31M.
The fees and charges you will pay and next year’s operational plan are also to be adopted so they can go out on public exhibition.
After public exhibition, the councillors will adopt the plans before the new financial year starts on July 1.
Read the long term financial plan with its different scenarios here: https://centralcoast.infocouncil.biz/…/OC_29042025_AGN…
Read the entire agenda for the April 29 meeting and use enclosed links to get to the documents here: https://centralcoast.infocouncil.biz/…/OC_29042025_AGN…
Or find your own way around the council website here: https://www.centralcoast.nsw.gov.au/…/council-meetings…\
