Published on Tuesday, 3 September 2024 at 11:00:00 AM
The Shire of Carnarvon is pleased to announce the adoption of its 2024/2025 Budget, following a thorough preparation process in accordance with legislative requirements. The budget was formally adopted in a recent Ordinary Council Meeting, meeting the deadline of 31 August as mandated by state law.
Under the Local Government Act, all councils are required to prepare and adopt an annual budget for each financial year. The Shire’s budget encompasses a Statement of Comprehensive Income, a Statement of Cash Flow, and the Statement of Financial Activity, formerly recognised as the Rates Setting Statement, along with various other financial notes as prescribed by legislation.
The primary objective of levying rates is to ensure the Shire has the necessary financial resources to deliver essential services and community infrastructure. Rates are determined by applying a specific rate in the dollar to the valuation of properties within the Shire. These valuations are conducted by the Valuer General’s Office, with land valuation methods determined by the Department of Local Government, Sport, and Cultural Industries.
For the 2024/2025 financial year, the Statement of Financial Activity identified the need to generate $6.99 million in rates revenue, representing a 4.5% increase from the previous year. This increase reflects the Shire’s commitment to sustaining its operations and advancing capital projects despite financial constraints.
Local Governments that apply differential rates must adhere to a public consultation process, where they are required to advertise their intentions, consider public submissions, and obtain approval from the Minister. This process ensures that differential rates, which are based on property zoning or land use, are applied fairly across the community.
The 2024/2025 Budget sets the financial framework for the Shire’s operations over the next year, balancing the need for fiscal responsibility with the ambition to support the community’s growth and development.
For more details on the 2024/2025 Budget, please visit the Shire of Carnarvon’s website at https://rebrand.ly/Annual-Budget-2024/25
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