Council endorses 2024/25 Annual Budget
Published on 19 June 2024
The 2024/25 Annual Budget was endorsed at last night’s Council Meeting, committing $140.4 million to support essential services and community initiatives over the next financial year.
This Budget reflects the valuable community input gathered through two stages of community engagement, highlighting significant engagement from residents across the City of Maribyrnong, with this Budget attracting the highest level of participation in recent history.
Reflecting feedback on key priorities such as open space, sustainability, transport infrastructure, city amenity, safety, and health, wellbeing, and recreation, the Budget allocates just over $80 million to capital works, which includes:
- $18.077 million for major projects
- $9.763 million for aquatic and leisure centres
- $8.610 million for parks and gardens
Council is also allocating $21.327 million to improving roads and footpaths, with $6 million dedicated to completing the Cowper Street upgrade. Additionally, $959,000 will go towards bicycle paths to improve cyclist safety and reduce road congestion.
Building on the first stage of works, initiated in late 2023, $6.45 million is earmarked for ongoing infrastructure development in the Joseph Road Precinct.
Acknowledging the importance of open space to our community, nearly $17 million is designated for enhancing open spaces, including $8.610 million for parks and gardens, $4.017 million for sport and recreation facilities, and $4.633 million for public realm and streetscape upgrades.
This Budget also includes nearly $5 million for the Shorten Reserve/RecWest redevelopment, supported by a $10 million State Government grant, and over $1 million to begin the first phase of upgrade works at Hansen Reserve to support delivery of a new pavilion and floodlighting.
Council will invest just over $400,000 to continue transforming its former Lae Street Nursery into a new park, featuring a gathering circle, following extensive community engagement.
The Budget is premised on a 2.75% increase in total rates revenue, in line with the rates cap allowed for by the State Government.
Mayor, Cr Cuc Lam, expressed appreciation to the community for playing a vital part in shaping the Annual Budget through two separate conversations held in late 2023 and early 2024.
"The 2024/25 Annual Budget underscores our dedication to actively engaging with residents to get to the heart of what matters to our community. We have allocated funds where they are most needed, focusing on areas such as roads, footpaths, open spaces, and essential community services," Mayor Lam emphasised.
She thanked all those who had taken the time to help Council understand community priorities – with the highest level of participation in engagement on this Budget received in many years.
For more information about the development of the Annual Budget 2024/25 and community engagement, visit Your City Your Voice.
For more information and to download a copy of the 2024/25 Annual Budget, visit maribyrnong.vic.gov.au/budget