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SRV decision has “minimal” impact on budget papers

Clarence Valley Council says its budget and operational papers, now on exhibition, don’t need to be amended, following the Independent Pricing and Regulatory Tribunal’s (IPART) decision to approve a one-year 6.5 per cent special rate variation (SRV), instead of the five-years applied for.
The council’s Draft Delivery Program 2014-2017, Draft 2016/17 Operational Plan including Revenue Policy, Budget and proposed 2016/17 Fees and Charges and 2016-26 Long Term Financial plan are on exhibition until 4pm on June 10.
The council’s corporate director, Ashley Lindsay, said in an emailed response to the Independent’s enquiry that the IPART’s decision “would have minimal impact on the documents on display”.
He said council’s draft budget included two options for the 2016/17 financial year – an increase of 6.5 per cent in the ordinary rate (including the rate pegged limit) or an increase of 1.8 per cent (the rate pegged limit).
“IPART’s decision to allow a 6.5 per cent increase for next year means both those options are still available,” he said.
“There are likely to be impacts on subsequent years, but they will be assessed as we develop those budgets.”

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