Council reveals project likely to get big cash this budget
BIG dollars are expected to be provided in this year's Ipswich City Council budget to deliver the central business district project.
Corporate Services general manager Andrew Knight is responsible for forming the budget and is supported by a team of experienced financial professionals from across the organisation.
The work of bringing together each budget starts around October after the handing down of the annual set of financial statements from the previous year.
Mr Knight said this year's budget, handed down by administrator Greg Chemello, would likely have a strong focus on the continued delivery of the redevelopment, maintaining existing council assets and investment in infrastructure to support the city's growth.
"The city is in a sound financial position to allow for continued delivery of community programs and high quality services for Ipswich and its residents," Mr Knight said.
Rates increases and the level of spending on infrastructure is unknown. Mr Knight said rates would not pay for all of the council's operations.
"Whilst the majority of revenue comes from rates, there are generally six main revenue streams for a council," he said.
"These include rates and charges, fees, permits and regulations, grants and subsidies, loans, and developer contributions and charges levied by council on land being developed.
"In Ipswich rates and charges account for approximately 68 per cent of all operating revenue."
Last year rates revenue was the equivalent of $189 million, from a total operating revenue budget of $279 million.