Town of Cambridge 2020/2021 Budget Adopted

Published on 01 September 2020

The Town of Cambridge 2020/2021 Budget was adopted at the Ordinary Meeting of Council on Tuesday 28 July, 2020. This is the Council’s fourth consecutive Budget of a 0% rate revenue increase.

The budget includes a total operating revenue of $49.7 million.

The COVID-19 pandemic has impacted every Australian citizen, however, the Town of Cambridge Council took early steps with its Budget measures, to ease the financial stress on Ratepayers and Businesses the pandemic was anticipated to cause.

In March, Council approved a COVID-19 Relief and Recovery Plan.

A major component of this was to commit to another year of zero per cent average rate increase.

Town of Cambridge Mayor Keri Shannon said that Council has strived to honour this commitment and has not increased the amount of revenue raised from rates.

“The Budget will raise $25.5 million in rates revenue, to fund the net cost of services, incorporating no increase in rates revenue,” she said.

“This is the fourth consecutive year that Council has sought to deliver this for Ratepayers.  

 “In addition to the impact of COVID-19, the Budget process at the Town of was met with an additional challenge this year as it coincided with the triannual gross rental revaluation (GRV) as required by the State Government.”

Application of the revaluation has resulted in a fall in the rateable value of properties across the Town of approximately seven per cent (7%).

To ensure the amount of rate revenue is maintained, the rate in the dollar has been increased by approximately 7.5% to offset the decrease in property valuations.

Mayor Shannon said the outcome of the GRV review has produced good news regarding their rates for the greater majority of property owners in the Town.

“The majority will receive a zero dollar increase in their rates with some even receiving a reduction.

“There will be a number of property owners that will receive an increase.

“All residents and ratepayers can view the full Budget online at the Town’s website.

“In addition, Ratepayers will also receive a newsletter with their rates notices that will further explain the GRV and a Budget summary including all the capital projects planned for the coming year.”

View the 2020/2021 Budget