Stephen knows banking

years, to ensure deliverability. An amount in the order of $15 million will be preserved in the capital budget each year for asset renewal.”

But financial officers have already flagged the council may need to borrow to deliver what is required.

“Depending on the adopted capital budget additional loans are likely required,” the report stated.

Currently, the council has loans of $5.1 million which equates to approximately $393 per rateable property.

Final capital and operational budget development workshops will take place in the last week of March, with the 2023/24 Budget and Operational Plan expected to be adopted by 30 June.