MORE than $91 million in ratepayer money will be spent on major projects in Frankston during the 2022/2023 financial year.
Frankston Council ticked off its budget for the next financial year at its last public meeting. The final budget confirmed that Frankston Council will spend more than $15 million on the Jubilee Park redevelopment. Ratepayer funding is also being used to fund redevelopments at Eric Bell Reserve, Lloyd Park, and Belvedere Reserve.
The final budget also confirms that ordinary rates will rise by an average of 3.4 per cent in the next financial year. Rates on vacant residential land will increase by an average of more than six per cent, but rates paid on commercial and industrial land will decrease.
The average general rate and municipal charge will increase by 1.75 per cent. This is the maximum amount it can be raised without exceeding the rate cap.
Frankston Council has projected a healthy $22.16 million surplus for the 2022/2023 financial year, including grants from other levels of government and contributions.
Frankston mayor Nathan Conroy said the budget also includes “significant investments in drainage, roads, footpaths, sporting and recreational facilities with councillors working together to identify the key priorities for Frankston in line with our Community Vision 2040.”
“Council is also committed to supporting the community in a post COVID-19 environment and do that we must invest in the reactivation of the city together with supporting the most vulnerable in our community,” he said.