Council Notification to Ipart of Intent to Apply For Special Rate Variation
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Council has notified its intention to IPART to apply for a Special Rate Variation (SRV) to commence in 2019/20.
At its meeting on 26 November, Lithgow City Council resolved to notify IPART of its intention to apply for a Special Rate Variation (SRV), above the normal rate peg, in our general rate income to commence in 2019/20.
“In January, Council will give consideration to an application to retain the current SRV of 4.77% and request an additional SRV of 4.23%. This would translate to a total SRV application of 9% in rates revenue (i.e. the current 4.77% SRV plus a new 4.23% SRV) plus the 2.7% (set by IPART for 2019/20) rate peg” noted the Mayor, “meaning that in 2019/20, the total increase will be 11.7%”.
“Council understands that on first impressions this may seem like a large increase. Council currently spends approximately $19 million on the maintenance and renewal of infrastructure assets each year, however, Council should be investing at least an additional $1.1 million per year to keep assets safe and functioning.”
“It is important to note that without an SRV, our assets would continue to decline with more assets in poor condition. The focus would be on managing risk, including the possible closure and removal of unsafe assets and reduction of services.
“In order for Council to maintain and manage current assets, ensure that delivers services are delivered in line with community expectations, and Council achieves financial sustainability into the future, we must carefully consider the option of a Special Rate Variation” concluded Mayor Thompson.
Information on the proposed special rate variation is available on www.haveyoursay.lithgow.com . Alternatively you can contact Council on 6354 9999 or call into the Council Administration Centre or Lithgow, Wallerawang and Portland Libraries where one of our friendly staff will be happy to assist you.
Written submissions quoting reference no. SRV19-20 will be accepted by Council until midnight on 11 January 2019. However, Council does encourage members of the community to visit the Have Your Say website or speak to a Council Officer first to ensure they are making an informed decision.