THE City of Perth has endorsed its 2017-18 Annual Budget, with Lord Mayor Lisa Scaffidi saying the City has overhauled its finances to reflect a modest rate rise in 2017-18, while producing a $60.4 million capital works budget and reducing operating expenditure by 2.3 per cent.
"In a year characterised by consolidation, we have been working hard to ensure the City of Perth remains in a position to enhance our quality of service over the coming years," Ms Scaffidi said.
"Our priorities include investing in major strategic infrastructure and developments; creating integrated transport options to ensure accessibility; positioning the City as a centre of business excellence and opportunity; attracting people to live in the City; facilitating a robust night time economy; and fostering a healthy lifestyle with our natural and cultural assets."
According to Ms Scaffidi, key investment areas in 2017-18 include:
- Perth Concert Hall upgrade: $7.6 million;
- Streetscape improvements: $5.7 million;
- Transport (Cycle paths, two-way conversion and other projects): $4.5 million;
- Event sponsorship: $4.3 million;
- Community amenity (CCTV upgrades, ranger services and safety bollards): $3.2 million; and
- Parks and place enhancement: $3.7 million.
Other areas of expenditure affecting the City's Budget include an $18 million payment to the State Government for the Perth Parking Levy, $528,000 for the Emergency Services Levy, and an increase in the State's Landfill Levy (up to $910,000).
In a reflection of the subdued economic conditions, the City said valuations undertaken by Landgate have seen a significant reduction in Gross Rental Values, impacting the City's rate-setting.
The City said it endeavoured to avoid passing on additional costs to ratepayers by significantly reducing operating expenditure and also ensuring this year's overall rate revenue increase remains in line with CPI for the second consecutive year.