THE King Island Council has kept the next year’s rate increase to an average 3.74 per cent. Mayor Marcus Blackie said the council has just passed a $15.56m budget for the 2024- 25 financial year.
“It was the second biggest in our 116-year history and only marginally smaller than our biggest (the current FY23-24 budget @ $15.62m),” he said.
“Our new budget continues to be boosted by both Federal and State grant funding for the ongoing delivery of major projects, road resealing/renewal programs and community and recreation infrastructure.
“This is largely due to the council’s ongoing advocacy, which enables this investment to provide safe and accessible facilities, as well as directly assisting our financial bottom line.
“I describe our FY24-25 budget as both responsible and disciplined.
“We have tightened the expenditure belt slightly due to current economic and cost of living headwinds, as well as our drought situation.”
“We are a low-debt council, with no new borrowings planned for this coming year.”
“Total loan balances are estimated to reduce from $0.632m to $0.285m by June 30, 2025.
“The main focus of our budget and capital works for the next financial year has pivoted back to core council business, improved service delivery, public asset maintenance, completion of a number of significant community capital works projects and overdue replacement of critical large plant machinery.”
Mr Blackie said the council’s operating budget also includes provision for the ongoing services that council delivers.
Community capital works projects budgeted for next financial year include:
• Completion of the Hub project, which will provide a range of community, business and education services and tourist information;
• Completion of the Currie tennis courts/netball courts refurbishment;
• Over 1 million for roads and bridges resealing/renewal;
• Roof replacements for the KIRDO & Council depot buildings;
• Improved playground at Naracoopa;
• New parking configuration, roadside and drainage improvements in Main St Currie; new footpaths and airport upgrades.
• Implementation of waste and recycling program
“The increases place King Island as one of the lowest increases in Tasmania,” Mr Blackie said.
“As pledged, we have again done our best to meet you halfway.
“Your elected councilors and the whole council team have delivered budget settings through very sound financial management that provides continued stability to navigate uncertain times.
“I am again confident this budget will give our constituents, King Island industries, small businesses, developers, investors and tourism operators full confidence in our future upward trajectory.
“I commend this budget to you.”