Financial Position

Council’s financial position

Marion Council is in a strong financial position which allows us to keep rates low while investing in the future of the city.

We are responsible for maintaining more than $1 billion of community assets, including parks, roads, footpaths, libraries, neighbourhood centres and stormwater drainage.

Our commitment to increasing efficiency and making savings without reducing the levels of service to the community is delivering value for our ratepayers. 

The information below provides an outline of Council’s finances based on the audited financial statements for 2014/15. It also includes details of rates for 2015/16 from Council’s budget.   

Rates

Council’s commitment to reducing the financial burden on ratepayers is demonstrated by the introduction of an average household rate rise for 2015/16 of 2.9 percent, without reducing services. This is the lowest average rate rise in more than 10 years.

 Rates graph 2016

How your rates are spent - breakdown of the average residential rate of $1,319

This graph shows how the average residential rate is allocated to provide services and facilities for our community. 

 Cost per resident 2016

What is our revenue and where does the money come from?

Our revenue is $82 million, of which 82 per cent comes from rates.

Grants from Federal and State governments make up 9.4 per cent of revenue. Fees for services, including Development Applications and dog registrations, admission to facilities, including the Marion Outdoor Swimming Centre, and investment income, make up the remainder of the revenue.

 Revenue graph 2015

 

This graph shows how we allocate $71.949 million for day-to-day operations that provide services to the community.

graph 1                         Expenditure table 2016

Achieving an operating surplus

By making a concerted effort to increase efficiency and savings without impacting on the levels of services provided to the community we have achieved an operating surplus of more than $10 million, which is $6.3 million above the figure forecast in the 2014/15 budget.

Sustaining a surplus will be critical to renewing and maintaining community assets.

Debt levels

Council has a moderate debt of $11.9 million, the majority of which is borrowings which have been used to help build the Cove Civic Centre which was officially opened in August 2015.

Our total borrowings are forecast to increase to $25.1 million by 30 June, 2016, largely to fund the City Services building. However, this full amount may not be required.

City Services is a modern operational hub that will deliver core services to the community, including building and maintaining parks, roads, footpaths and stormwater management, for the next 40 years.

Borrowings for both facilities are factored into Council’s long-term financial planning.

More information

Full details of Council’s financial performance along with an outline of services and projects delivered is available in the City of Marion Annual Report 2014/15 .

Information about how Council is allocating its budget for 2015/16 and the projects and services being developed is available in the Annual Business Plan and Budget 2015/16 .