The 2018/19 Bunbury city budget has been approved. For owners of real estate in Bunbury and renters alike, there's plenty to learn about rates changes, infrastructure improvements and community space upgrades.
Here's what you need to know about the new budget.
The city's budget for the year totals $67.7million. Of that, $16.2million is slated for capital works, $49.3million for operating expenditures and $2.2million for debt reduction.
Bunbury Mayor Gary Brennan said the budget was one informed by the current economic climate.
"The focus for the 2018-19 Budget is to deliver services and facilities to our community whilst laying the foundations for the future," he said.
All this doesn't come for free, however – the new budget brings with it a 2.9 per cent rates increase. In the Budget's introduction Mayor Brennan explained that the increase was necessary to cover inflation, as well as cover for asset maintenance provisions for growth.
With everything going to plan, the budget will lead to a modest cash surplus of $126,000 by June 30, 2019.
The budget is consistent with the principles and thoughts laid out in the strategic community plan, as evidenced by the number of community projects and initiatives being supported.
For example, the Stirling Street Arts Centre is getting redeveloped to the tune of $1.9 million. This will involve building two new studio spaces, a new meeting room, toilets, office space and kitchens, reception and retail display.
There's also funding for many other community projects:
In total, $20.6 million will be spent on community and culture – $4.3million on sport and recreation services, $1.4million for the arts, $1million for events and $725k for community grants and subsidies. This commitment to investing in the local environment and city is part of what makes Bunbury such a great place to live. It's an area that has the benefits of a big city, with all the community and care that develops in small towns too.
To learn more about houses to rent in Bunbury and everything real estate, get in touch with a member of the Ray White team today.