Council has voted to adopt its final budget for the
upcoming financial year following extensive community consultation.
The budget strikes the right balance between
the need for long-term financial sustainability, cost-of-living relief, and
stimulation of the local economy.
A major highlight is the introduction of
one free 2P parking session per vehicle, per day which is intended to support
local businesses, especially in central Geelong while helping to reduce the
cost of living.
The final budget also removes a range of
fees, including the Permit to Burn Fee, Low Impact Film Fee and Community Event
Permit for less than 100 people.
The annual rate increase is also lower than
the Victorian Government’s 3 per cent rate cap at 2.5 per cent, helping to
support essential services while keeping costs manageable.
To ensure long-term sustainability, the
final budget achieves an operating surplus $509,000, and will pay down debt
while selling assets which are surplus to future needs.
The proposed budget was endorsed by Council
in April, followed by a period of consultation and a Submissions Review Panel
hearing.
A total of 380 submissions were received.
Greater Geelong Mayor Stretch Kontelj OAM:
We are the only level of government with
this level of community consultation as part of the budget process, and I thank
everyone for their feedback.
I am extremely proud of the end result –
we’ve delivered on a commitment of free parking in central Geelong which is
something that many people have been calling for.
We have also kept rates as low as
possible, recognising that many in our community are doing it tough with the
cost-of-living crisis, and we’ve removed a range of fees such as the Permit to
Burn Fee.
Chair of the Finance Portfolio Cr Andrew
Katos:
Budget sustainability is important, which
is why we are paying down debt and have committed to no new borrowings over the
four year forward estimates.
By selling assets which are surplus to
needs, we can make sure that our funds spent maintaining assets are on those
which deliver for the community, freeing up other cash for debt reduction and
reducing the interest bill for ratepayers over the forward estimates.
The key changes between the proposed and
final budget are:
- a forecast operating surplus of $509,000, as opposed to the deficit in the proposed budget, thanks to further refinement of budget estimates
- increased funding for the Sports Lighting Program, bringing to total annual funding to $1 million
- the addition of $150,000 in funding for planning of footpaths in Mt Duneed
- funding of $95,000 for safety nets at North Shore Football Netball Club
- an increase in Pako Festa funding to a total of $100,000, up from $80,000 in the draft budget
- funding for the Central Geelong Market Initiative
- removal of the Permit to Burn Fee, Low Impact Film Fee, and the Community Event Permit (Less than 100 People), and reduction of the Heaped Waste Disposal Fee
- funding of $20,000 for Barwon Heads Football Netball Club
-
funding for Active Geelong of $50,000.
View the full 2025-2026 budget document online.