Willoughby City Council is inviting feedback on its draft Long Term Financial Plan and Operational Plan 2023/24, which includes $68.5 million in proposed capital works.
The capital works schedule includes $27.6m for the Willoughby Leisure Centre upgrade, $3.4m for a Artarmon local centre streetscape upgrade, $3m for asset renewal and refurbishment of Council’s meeting and office spaces, $2m to develop a revised business case and concept plan for the Gore Hill indoor sports complex, $1.4m to resurface Thomson Oval, $1.3m to build the Artarmon Parklands Pavilion, $850,000 for the Naremburn local centre streetscape, and $515,000 for the Chatswood Lunar New Year festival.
Mayor, Tanya Taylor said the list of major projects to be progressed in 2023-24 would help protect the environment, increase green spaces, enhance recreational facilities, create vibrant local centres and foster connected and liveable communities throughout Willoughby’s Local Government area.
The draft Long Term Financial Plan has a longer term 10-year horizon and outlines the Council’s response to an unprecedented and volatile economic climate which is challenging its current sound financial position.
“Despite recent and ongoing work to identify cost savings, create a more efficient workplace, and success in winning external funding, increased revenue is required to address broader economic conditions outside of Council’s control,” Council said in a statement.
“These economic conditions include higher depreciation costs (resulting from higher asset values) and ongoing high inflation levels well above official forecasts.”
Based upon new modelling, the draft Long Term Financial Plan proposes that the Council examine a Special Rate Variation of 15-20%, to apply from 2024/25.
Mayor Taylor said the revenue is required to ensure Council can continue to provide high-quality services, maintain assets and parks and deliver significant new community projects over the next decade. It will also provide some capacity for increased service levels such as additional streetscape maintenance, she said.
“Council has not yet made a decision to apply for an increase in rates, and will be encouraging residents to engage in our consultation processes over the next 12 months.”
“We are however, committed to operating in a financially sustainable way to continue to deliver, reprioritise, improve or increase services that benefit the whole community.
“We now look forward to hearing detailed community feedback on these foundational documents,” Mayor Taylor said.
The draft Operational Plan and draft Long Term Financial Plan will be on exhibition until 15 June 2023, with Council to announce a final decision on the plans at its 26 June meeting.