Despite the $14m impact of COVID-19 on our revenue, Council will present a balanced budget and continue to deliver services, projects and capital works for the community.
This wasn’t an easy task. The ongoing impact of COVID-19 meant that the starting point for the 2021/22 budget was $6.2 million in deficit.
For 2021/22, we expect a reduction in revenue from:
- paid parking due to people working from home and high competition from parking operators in Chatswood CBD
- lease rentals with increased vacancies and potential market value declines, and
- historically low interest on our investments.
To reduce the $6.2 million deficit position we found savings in these areas:
- $2.5 million in employee cost savings (for example vacancy savings)
- $1.7 million by introducing controllable costs savings (for example consultants and materials)
The remaining $2 million will be resolved in a number of ways including revenue and cost opportunities and fees which have not increased for a significant period of time and where they are under market value. The proposed fee increases are:
- 3% increase in domestic waste management charges – this increase is in line with previous increases in 2015 and 2018. Fees will increase by $15 per household from $530 to $545
- 10% increase in parking fees for on-street parking, except at undercover parking at The Concourse, Albert Ave and Chandos St car parks, where there is intense competition from other parking venues.
- 10% increase in child care fees on 1 July 2021 and 1 January 2022, to bring fees in line with current market rates.
- Aligning planning fees to the middle of the market range.
Applying these cost saving and revenue opportunities will result in a balanced budget with a $0.5 million surplus, while minimising the impact on our community.