Redland City Council is committed to minimising the financial impact of its upcoming Budget on the city’s ratepayers, now and into the future.
Mayor Karen Williams said that even though Redland City was in a stronger debt-servicing situation than other councils in the region, the 2023/2024 Budget would be one of the most difficult Council had faced in recent years due to the current economic climate.
“The ongoing discussions at Budget workshops have been predicated on a commitment to make responsible financial decisions in respect to the current, difficult economic climate,” Cr Williams said.
“We know people are doing it tough at the moment, so we are committed to minimising the financial impact this upcoming Budget will have on ratepayers.
“As a Council, we are looking at the best way to deliver the services that people want and require, for the best value possible, while considering the next generations coming through.
“Our 2023/2024 Budget in Development is benefitting from our high cash balances and low borrowings, so the community’s money is being well looked after.”
Cr Williams said Council’s debt serviceability was strong compared to other large councils.
“We are in a strong position to repay our loans. It also means that relative to other large councils, Redland City Council maintains lower debt per capita,” she said.
“Council is working hard not to pass on increasing costs to the ratepayer but spreading the burden across more than one generation.
“We are also focussed on keeping our consumer price index below Brisbane’s CPI which increased by 1.9 per cent in the March quarter to now sit at 7.4 per cent.
“Over the last 12 months, our city’s ratepayers have faced soaring prices at the supermarket checkout, in their electricity bills and at the petrol bowser.
“Redlands Coast businesses have struggled with the same pressures, and Council itself has been slammed by inflation in areas such as electricity prices and the costs of construction materials.
“It is essential that Council maintains its high standard of prudent financial judgment and management through these times.”
Council’s Special Budget Meeting will be held on Monday 26 June 2023.