2022-2023 Financial summary

Our community expects and deserves an efficient and productive administration that provides excellent service and value for money.

We are committed to excellence in the delivery of our core services and to ensuring our efforts meet the diverse needs of our community.

In brief

• Revenue of $204.65 million, with 70% coming from rates and charges.
• Expenditure of $194.10 million, with 4 9% attributable to employee costs and 33% for materials and services.
• Surplus of $10.55 million.
• Net assets of $1.66 billion, including community facilities and infrastructure.
• Cash and financial assets held $55.97 million, which is $2.74 million less than the previous year.
• New borrowings of $39 million to fund the construction of the new Northcote Aquatic and Recreation Centre.

Each year your rates go towards providing important services, programs and infrastructure for the benefit of our growing and diverse community. In 2022/2023, our $194.10 million of spending enabled us to deliver a diverse range of services, capital works and special projects. We always strive to strike a balance between service costs, quality and value to our community, working within the Victorian Government’s rate cap.

How we spent your rates

For every $100 of Council expenditure, this is how much was spent across Council services:

• Capital works - 33.48%
• Waste Collection & Sweeping - 11.9%
• Culture & Leisure - 8.02%
• Parks & Open Space - 7.8%
• Environment & Amenity - 7.55%
• Supported and Connected Living - 7.27%
• Family Services - 6.98%
• Planning & Development - 5.22%
• Buildings & Assets - 3.52%
• Road Maintenance - 3.52%
• Libraries - 3.02%