Council
10 November, 2024
Somerset Council’s new budget
Somerset Regional Council’s estimated capital budget for the 2024/25 financial year has increased by about $22 million, largely due to new grant funding.
Council adopted the revised budget on 30 October, with the funding to finalize Disaster Recovery Funding Arrangements also confirmed and budgeted for, as part of the first revised budget for the financial year.
“The total repair works for the 2022 Flood Recovery Program is expected to be about $66 million, with assistance provided through the jointly funded Commonwealth-State Disaster Recovery Funding Arrangements (DRFA),” Mayor Jason Wendt said.
“Council will receive an additional $13 million in new capital grants, including successful funding for the Toogoolawah Pool upgrade and Kilcoy Indoor Sports Centre upgrades, totaling $5.5 million.”
Cr. Wendt said Council is also factoring in a $1 million increase in depreciation, which will affect their State Government sustainability ratios.
“Council will continue to focus on meeting the State Government sustainability ratios to ensure it is well-positioned to deliver products and services.”
