Published on Thursday, 11 March 2021 at 4:35:59 PM
Although not totally unexpected, Mayor Lis Clark said that she was pleased to finally receive the amount at this stage of the budget setting process and that some of these funds would be used in the 21/22 budget figures and the remainder placed in Council reserves.
The funds will be utilised to offset rates increased previously planned as per Council Long Term Financial Plan, provide municipal services and projects.
“Utilising the funds to keep the rates down for next financial year will assist to make up the arrears from last year where we didn’t increase the rates at all”.
“Our 10-year financial plan had set the rates increase at above 7.2 % for the 21/22 budget, however the receipt of these funds will reduce that figure to 4.9%. This is a much better result for all ratepayers and residents as council services extend to everyone living in Katherine.”
Council will send out its draft budget for community consultation after it is adopted at the Ordinary Meeting of Council on 23rd March 2021.
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