The budget also included an operating surplus of $3.99 million and accounting surplus of $40.28 million.
A three per cent increase in rate revenue — in line with the Municipal Charge — and an average 0.51 per cent increase in kerbside service charges, will generate $98.7 million.
City of Greater Shepparton Mayor Shane Sali said “uncontrollable circumstances” including the pandemic and October 2022 floods, had a “significant financial impact” on the community and council, which kept council from reducing its operating deficit.
He said council had “come a long way” from being in an operating deficit of $5.72 million in 2024/25, to a surplus.
“(Last year) we gave full confidence and endorsement ... we want to be in surplus. We have to be in surplus,” Cr Sali said.
“We’re working to undertake some big developments ... but you must never underestimate financial stability.
“You have to have that as your foundation as you continue to progress so it gives you the greatest opportunity.
“This budget is effectively about growth and opportunities.”
Moving the motion, Cr Geoff Akers said a surplus was something that council was hoping for.
“We’ve continued to prioritise renewal of existing assets in this budget, and I think that’s important at this point in time,” Cr Akers said.
“We’ve got to get the management of our current assets in order before we go too far with new ones, and there’s plenty of them that need attention.
“This budget recognises our social responsibilities, our community responsibilities and the responsibilities we have to ratepayers.”
Cr Anthony Brophy, who seconded the motion, said the $200 million income was an “incredible feat”.
He also said shared pathways, footpath renewals, playgrounds and road renewals, which were allocated $13.3 million, were some other things council was prioritising.
Councillors present thanked everyone involved for their work on the budget.
