Council passes balanced budget and rate rise for 2024 financial year

At the council's June 26 ordinary meeting, councillors passed the city's 2023-24 budget and 12 other motions in just over 11 minutes.

Councillors said this showed they were developing a cooperative culture, where people of different political views were able to come together in the best interests of the city.

The biggest item in the budget is capital spending - money for works on physical assets. Of this, $28 million is dedicated to roads - an $8 million increase on last year.

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Among measures raising additional revenue for the council were a 3.8 per cent hike in rates and increases in the fees developers will be charged for certain development applications.

The maximum amount councils can raise rates is set by the Independent Pricing and Regulatory Tribunal (IPART), through a complex indexing system referred to as the "rate peg". This indicator is based on the average amount costs have increased for councils, setting a nominal maximum increase.

IPART has set this year's maximum increase at 3.7 per cent, but allowances are made for societal factors like population, income and productivity.

Through this mechanism, Wagga council was able to raise rates by 3.8 per cent in the coming year.

Chief financial officer Carolyn Rodney said councils weren't immune to inflation and needed more revenue to continue providing the same levels of service.

"Rates and annual charges are one of the largest revenue streams for all local government authorities," she said.

"The minimum ratepayer in Wagga will see a $22 increase in their property rates.

"Council staff welcome people to make contact to determine what their estimate is for the next financial year.

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