Welcome

We are pleased to present our four year budget for your feedback. This budget aims to deliver facilities and services to meet the community’s needs, while helping the Council remain financially sustainable in a challenging economic environment.

The proposed budget forecasts a small operating surplus of $2.07 million in 2024-25, while containing total average rate rises to the 2.75 per cent Victorian Government cap.

The Council’s strong focus on new and upgraded facilities to cater for Greater Geelong’s growing population will continue.

A proposed capital works program totalling $210.5 million in 2024-25 and $752.6 million over the next four years will result in new or improved sporting facilities, community centres, parks and reserves across the region.

The works will be delivered via a combination of direct Council funding, state and federal government grants, and developer contributions.

Major projects added or reinstated to the four-year capital works program include:

  • Pavilion and athletics facilities upgrade at Landy Field, South Geelong ($5.475 million);
  • Redevelopment of the Chilwell Library ($2.5 million over two years);
  • Flood mitigation works in Kyema Drive, Lara ($1.3 million);
  • Female-friendly changeroom upgrade at Queens Park, Highton ($1.4 million); and
  • New bike park in Ocean Grove ($3.5 million).

In addition, the budget includes significant investment for environmental protection initiatives, including capital funding to enable the City to introduce a Food Organics Garden Organics (FOGO) kerbside collection service in the coming years, with materials processed locally.

There is also extra funding in 2024-25 to support community-led projects, with the Community Grants allocation lifted by $431,000 to just under $4.48 million.

The budget includes measures to help stimulate the local economy, with commercial and industrial rates further decreasing in line with a 10-year plan put in place in 2021, and fees for al fresco dining and busking reduced by 50 per cent.

Libraries have received a jump in funding to $15.5 million, including a direct cash contribution to the Geelong Regional Library Corporation (GRLC) of almost $14.52 million. The $1.87 million cash contribution increase on 2023-24 levels will cover the GRLC’s operating costs for next financial year, including the new Armstrong Creek library once it opens.

We invite feedback from the public on all topics, with the submission period closing at 5pm on Wednesday 22 May 2024.

Review the draft documents

Proposed Budget snapshot - key facts and figures

Click on each header for further details.

A budgeted surplus of $2.07 million.

This is in line with Council’s 10-year financial plan. The four-year budget forecasts further small surpluses over the following three years, but acknowledges there may be a need during this period to record a deficit.

We are budgeting for $15 million in new borrowings in 2024-25, taking our total borrowings by the end of the FY to $189.4 million.

These new borrowings will help us fund the delivery of community facilities and infrastructure.

Our forecast comprehensive result is $185.8 million.

It is important to note that this figure does not represent a windfall for the Council as it largely consists of:

  • non-monetary assets handed over by developers (such as new drainage, roads and footpaths), which are now our responsibility to manage – so these assets actually increase our yearly costs;
  • developer contributions, which are required to be invested into community assets; and
  • capital grants income.

The total expenditure in 2024-25 will be $491.1 million.

Where the money goes (top 5 sources of expenditure):

  • Capital projects delivery – $213.4 million (35.8 per cent)
  • Waste management – $63.6 million (10.7 per cent)
  • Services and internal services - $54.7 million (9.2 per cent)
  • Asset management and maintenance – $46.4 million (7.8 per cent)
  • Family Services - $34.7 million (5.8 per cent)

All fees and charges have been listed in the budget document for the community’s review.

Increases to fees and charges have been minimised where possible, but there are increases to reflect the current economic climate.

The Victorian Government has set the rate cap at 2.75 per cent for the 2024-25 financial year.

As we always have, we will keep the total average rate increase within the government cap.

We understand that people are feeling the impacts of cost of living, but also in response to inflation and the cost increases the City does need to increase rates within the allowed limits.

Rates and charges are essential to supporting the services and facilities we provide to the community.

The cost of services we deliver to the community during the 2024-25 financial year is budgeted to be $386.4 million, which is an increase of $27 million on the 2023-24 forecast.

This increase reflects the rising price of materials and service delivery, and our region’s growth.

The four-year budget forecasts our service delivery costs will pass $400 million in 2025-26 and hit nearly $430 million by 2027-28.

In total there is $17,470,321 allocated to support the operation of arts and culture venues, which includes libraries.

Geelong Gallery, Platform Arts and the Geelong Regional Library Corporation (GRLC) will all receive increased funding contributions.

Kardinia Aquatic Centre has been budgeted to operate year-round.

Budget to operate the North Bellarine Aquatic Centre during winter is pending a Council decision (matter to be considered during the May Council meeting.)

We recognise that renewing and upgrading assets is as important as providing new assets in growth areas.

Since 2021-22 we have been allocating an increasing share of capital investment towards renewing and upgrading existing assets.

In 2024-25 we will invest $59.1 million in renewal of assets, $40.3 million in asset upgrades, and $111.2 million in new assets.

We are also working make use of state and federal government grant opportunities to help ease the burden on our own finances.

The Geelong Major Events budget is $2.19 million, up from $1.17 million in 2023-24.

This includes $630,000 for the Australian International Airshow, (not required in 2023-24 as the event runs every two years.)

The budget includes Council’s commitment for Pako Festa and an increased contribution toward the Cadel Evans Great Ocean Road Race of $260,200 (up from $140,000).

The budget includes an allocation for attraction/ retention of new major events of $1.2 million (up $270,000 from $930,000).

This charge does not sit within the rate cap.

The recycling and waste collection service charge is calculated to cover the rising costs of collection, recycling and landfill disposal. These include direct, indirect and overhead costs.

The charge for 2024-25 will increase from $457.25 to $473.25 (3.5 per cent).

Ward Highlights

We would love to hear from you

Your thoughts and contributions are a vital part of our planning. It helps us ensure our budget focuses on delivering services and investing in things that matter to our community.

Please provide your feedback on the Proposed Budget, Revenue and Rating Plan or both, in one of the following ways:

  • Complete the online submission below. You can request a hard copy by contacting the team listed in the 'Who's Listening?' section of this page or by visiting a Customer Service Centre,
  • Come and chat to your ward councillor and City staff at a Councillor pop-up near you. See the timeline on this page for details or visit the Neighbourhood Conversations page.
  • In writing addressed to:
    Proposed 2024-25 Budget Submission
    Executive Director Corporate Services
    City of Greater Geelong,
    Wadawurrung Country,
    PO Box 104,
    Geelong VIC 3220


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