The draft budget for the next financial year was adopted by the councillors on April 29 and is now on public exhibition.
Council wants to raise rates by 4.3 per cent; the highest allowed under IPART’s rate pegging system.
It also wants to increase most fees and charges by about three per cent although some are slated to go higher and others remain the same.
The long term financial plan includes a preferred scenario of keeping the Coast’s current rate rise imposed for ten years in 2021 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.
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 were also to be adopted and are now on public exhibition.
After public exhibition, the councillors may recommend changes and the final plan needs to be adopted 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…\
