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Record Budget to deliver widespread community benefits


budget
Image: The Department of the Prime Minister and Cabinet

City of Newcastle will support local communities, jobs, businesses and the economy as part of a record Budget designed to deliver everyday benefits alongside major infrastructure projects. 

 

 Councillors will vote on the 2024/25 Budget and Delivery Program next week, which will see over $415 million invested across 60 services and more than 280 projects during the next financial year. 

 

This includes a record infrastructure program of almost $140 million, which is forecast to support 735 local jobs and increase Newcastle's economic output by up to $305 million. 

 

Lord Mayor Nuatali Nelmes said City of Newcastle is committed to delivering the community's vision of Newcastle as a liveable, sustainable, inclusive global city. 

 

"From city-shaping projects that will create a legacy for future generations, to essential services that make an everyday difference in the lives of Novocastrians, this Budget will set a new benchmark for our investment in the Newcastle community," Cr Nelmes said. 

 

"We're investing in the things that matter to our residents and delivering a record infrastructure program that will cater for the needs of our growing community while stimulating Newcastle's economy and supporting new jobs. 

 

"Our infrastructure projects will make an everyday difference in people's lives, with $38.1 million for upgrades to local roads, bridges, footpaths and community buildings, $7.7 million on stormwater upgrades to address flooding to property and businesses and $6 million for improving Newcastle’s cycleway network and transport options. 


"We're also giving back through programs such as our Community Grants, which for the fourth consecutive year will provide more than half a million dollars to support initiatives that deliver positive outcomes for vulnerable members of our community and contribute to the social, cultural, environmental and economic life of the city." 


CEO Jeremy Bath said City of Newcastle continues to work hard to balance the needs and expectations of our growing community with our commitment to making sure we are financially sustainable. 


"City of Newcastle is forecasting an operating surplus of $4.1 million in 2024-2025, which is an indicator of the underlying financial strength of our organisation," Mr Bath said.  


"This is despite ongoing increases in inflation and construction costs, and our position as the only council in NSW to pay the NSW Government more in taxes and levies than we receive in grants. 


"We also recognise that many people and small businesses in our community are facing an extremely challenging time as they experience cost of living pressures. 


"That is why City of Newcastle is offering support to residents and business owners experiencing financial hardship. 


"During the past three years, we have assisted around 2,200 ratepayers to enter into payment arrangements, while an additional 141 people were supported through our rates voucher scheme. 


“We encourage home owners experiencing difficulties to contact City of Newcastle to discuss a payment plan before the next rates instalment. Doing this means interest will be waived on their outstanding balance."

 

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