The Independent Pricing and Regulatory Tribunal (IPART) have today approved Shoalhaven City Council’s application for a special variation rate rise to help fund infrastructure renewal. Council had previously made an application to IPART for permission to increase general rates by 4.6 percent above the rate pegging limit (3.4 percent) in the 2013/14 financial year. The increase is estimated to provide Council with an additional $2.3 million, all of which would be exclusively allocated towards road and path renewal in 2013/14 ($1.8 million on roads and $500,000 on pathways). Mayor, Joanna Gash welcomed the tribunal’s decision saying the approved rate rise would allow Council to increase funding to a number of crucial road and path renewal projects. In approving Council’s application, IPART found Council to have satisfied the guideline criteria which included - • A demonstrated need for the additional revenue for infrastructure renewal, particularly road related assets renewal. • Evidence that the community is aware of the need for and extent of the proposed rate rise, and the Council has engaged with the community. • Showed that the impact of the proposed rate rise on affected ratepayers is reasonable. • Made realistic assumptions concerning projected service delivery and budget. • Achieved productivity savings in past years and plans to realise additional savings over the special variation period.
Posted on: Tue, 11 Jun 2013 00:45:21 +0000