City of Stirling Corporate Business Plan

2023/24 BUDGET

City of Stirling 2023/24 Budget The City of Stirling’s 2023/24 Budget has been developed congruent with the State Government’s Integrated Planning and Reporting Framework and incorporates services, projects and programs identified to continue, commence or be finalised during the year.

Long-term financial sustainability is the key objective of the City’s financial plan and annual budget. With careful planning, the community can be assured that the City has the financial resources to achieve the objectives set out in the Corporate Business Plan. The City has been conducting service reviews, challenging itself as an organisation

to ensure the City operates cost effectively and efficiently and provides the best possible services to ratepayers and the community. These ongoing reviews will ensure that the City continues to respond to our community’s changing needs The City continues to be in a solid financial position, remaining debt free, with its finances aligned to strategic priorities.

Overview During 2023/24 the City has a balanced budget as detailed below. Where we collect the money from

$million

Rates

159.4 110.3

Operating revenue

Capital grants

10.3

Proceeds from disposal of assets

2.9

Revenue

282.9

Where we spend the money

$million (220.7)

Operating expenditure excluding non-cash amounts

Capital expenditure

(75.8) (44.7)

Carry forward capital works

Expenditure

(341.2) $million

Reserves, town planning scheme and trust monies movement

Transfers from reserves Transfers to reserves

26.2

(17.9)

Net movement

8.3

Estimated opening funds

50.0

Balanced budget

0.0

65