The Surf Coast Shire is the latest local municipality to take a financial hit with its budget surplus expected to come in at a wafer-thin $1.2m – well below earlier predictions of almost $10m.
While rising costs are getting some of the blame, the biggest issue appears to be a $5.5m shortfall in expected grants, according to a report in the Geelong Advertiser.
The shire’s Annual Financial Report also details a 94 per cent increase in “other costs”, up from an expected $3.9m to $7.6m.
Rate revenue was down by more than $400,000 while user fees were over $700,000 lower than predicted, according to the Advertiser’s analysis.
Wages and payments to the shire’s nine councillors and five key executive staff increased by nine per cent on the previous year.
The report also reveals five staff members were paid more than $200,000 in 2022/23, and 15 were on wages in excess of $150,000.
