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This year Council has proposed four changes to the Rating Policy to be consulted on as part of engagement with the community on the 2021-2022 Business Plan and Budget. The proposed changes are:
- Introducing a discount for upfront payment of rates.
- Increasing the threshold for the Special Discretionary Rebate.
- Removing the pensioner and self-funded retiree concession.
- Changing the basis of rating vacant land.
Section 123 of the Local Government Act 1999 (SA) requires Council to have a Rating Policy that must be prepared and adopted as part of the Business Plan and Budget each year.
The Rating policy includes reference to compulsory features of the rating system, as well as the policy choices that the Council makes on how it imposes rates and how it administers the collection of rates.
Fundamental to a Rating Policy is that it should be fair and equitable, recognising that all ratepayers have access to core goods and services and should contribute towards the costs of delivering them. With that in mind, the Rating Policy attempts to balance the principles of taxation with the need to raise revenue to provide the goods and services our communities need.
The amendments proposed to the Rating Policy are a result of Council Member feedback to the workshop presentation made at The Committee meeting held on 24 November 2020. These changes are proposed ongoing changes to our Rating Policy.
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The Business Plan & Budget is the key annual operational and financial planning document of the City of Adelaide. It sets out the key activities, projects, and services we plan to provide in the upcoming financial year, our sources of revenue, and how we propose to allocate our budget.
The Plan has been developed in the context of delivering our long-term strategic direction set out in the City of Adelaide 2020-2024 Strategic Plan and in the context of the challenges, financial constraints, and opportunities arising from COVID-19. It is a budget built with City Recovery in mind.
This budget has been formed over the past several months through a series of workshops and discussions with Council Members and our Audit Committee, about the City of Adelaide’s financial position. These discussions included consideration of the financial levers available to Council to help the City recover and improve the City of Adelaide’s long-term financial sustainability.
Financial sustainability is based on the current generation funding the services and infrastructure they use, and that new infrastructure and assets funded through borrowings will not over burden future generations. As such, a ‘balanced budget’ is being built in 2021-2022 through the implementation of measures that will generate permanent and ongoing budget improvement.
These measures will be identified and implemented over the next 12 months and include:
- working with our community and reviewing market conditions to better understand and deliver our services
- organisational and operating activity efficiencies
increasing patronage to Council’s commercial businesses.
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Council has recently reviewed the Draft 2021-2031 Long-Term Financial Plan (LTFP) as part of the 2021-2022 Business Plan and Budget process with consideration to factors including the financial impacts of the COVID-19 pandemic. The proposed LTFP includes a forecast for Council’s proposed borrowings and expenses to 2031 and the development of a Future Fund to support the City’s growth. The LTFP is based on assumptions about income and expenses and the cost of borrowings. As these are the sorts of things that can change often, the LTFP is reviewed quarterly and updated on an iterative basis to reflect the latest available information.
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City of Adelaide currently owns and manages approximately $2 billion worth of assets on behalf of our community. These assets range from infrastructure such as roads and buildings through to items such as park furniture and play equipment. These assets are a significant investment and require sound strategic management so that they are sustainability managed and continue to support the needs of the community.
The Strategic Asset Management Plan (SAMP) is Council’s strategic approach to delivering its asset management policy and managing its assets over the next 10 years. The aim of the SAMP is to transform the way that the City of Adelaide manages assets to enable long-term sustainability. This approach will enable Adelaide to grow and prosper over the next decade, while maintaining levels of service and ensuring intergenerational equity.
The SAMP is the strategy set by Council to inform the development of detailed Asset Management Plans.
The Council, in the SAMP, has identified strategic actions to support the delivery of its asset management policy. We would like to know what you think of these. Council’s significant ageing asset portfolio needs strategic management to ensure that it is managed sustainably. Council have developed some “levers” which can be implemented to ensure we are getting the best value for rate payers and stretching Council’s dollar further in relation to the City of Adelaide asset portfolio.
