At its 26 June 2018 meeting, Council adopted its budget for the 2018/19 financial year.
Budget 2018/2019 (pdf, 4MB)
- Funds substantial renewals and upgrades to important community facilities such as the Oakleigh Recreation Centre; the Caloola Reserve multi-sport pavilion and tennis courts, and upgrades to facilities at Pinewood, Brentwood and Southern reserves
- Improves renewal of Council’s core assets of footpaths, roads and drainage
- Maintains Council’s position of being debt-free since 2015.
At its 27 June 2017 meeting, Council adopted its budget for the 2017/18 financial year.
Budget 2017/2018 (pdf, 8MB)
Highlights of the budget include:
- a $45.3 million capital works program, the largest ever program of community infrastructure upgrades in Monash;
- Monash will continue to have the lowest average rates of all 79 Victorian councils;
- a 2% rate increase is proposed (an increase of $27 over the year for the average Monash home owner). This is in keeping with the State Government’s cap on rate increases;
- a $50 Council rate discount is proposed for pensioners, in addition to the State Government pensioner rate rebate (which will be about $221).
At its 28 June 2016 meeting, Council adopted its budget for the 2016/17 financial year.
Budget 2016/17 (pdf, 6MB)
Key features of the Budget include:
- More than $42 million has been allocated for improvements to community infrastructure, the largest ever Monash Council capital works program.
- A new multi-level car park will be constructed in Atkinson Street, Oakleigh, to address a parking shortage. There are also funding increases for footpath repairs, children's playgrounds, sports pavilions and cycling/pedestrian paths
- Monash will continue to have the lowest average rates of all 79 Victorian councils
- A rate increase of 2.5% will be implemented, which works out to be an extra $33 over the year for the average residential ratepayer. This 2.5% increase is in keeping with the State Government’s cap on rate increases
- A rate rebate of $50 will be provided to Monash's 13,000 pensioners, in addition to the State Government's pensioner rate rebate of $218.30.
For more information, please see this media release: Biggest ever spend on community infrastructure in 2016/17 budget.
On 30 June 2015, Council adopted its 2015/16 budget.
Budget 2015/16 (pdf, 7MB)
Key features of this budget include:
- About 13,500 Monash pensioners received a $50 rebate from Council on their annual rates bill. Together with a $213 State Government rebate, this helped reduce the financial pressures for people on low incomes.
- Monash retained its position as having the lowest average rates of all 79 Victorian councils
- Rates were increased by 6% for residential properties, equating to $75 over the year
- Rates were increased by 11% for commercial and industrial properties. This higher rating level is aimed at ensuring the rate burden is shared equally. Over the previous five years the value of residential properties in Monash had increased significantly in proportion to the value of commercial and industrial properties. This resulted in residential ratepayers contributing a larger proportion of rate revenue than commercial and industrial ratepayers
- The rate increases helped ensure Council could maintain existing services while also meeting the infrastructure needs of a growing community. There were increases in funding for infrastructure that we all use, such as footpaths, roads and drainage.
As of 1 July 2015, Council is debt free for the first time in its 21 year history. This puts Council in a strong financial position ahead of the State Government's introduction of rate capping in the 2016/2017 financial year. Rate capping - whereby rate increases are capped at the inflation rate - has the potential to place significant financial pressures on all councils.
On 24 June 2014, Council adopted its 2014/2015 budget.
Budget - 2014/15 (pdf, 5MB)
It was a back-to-basics budget which boosted spending on core community infrastructure such as parks, bicycle paths and recreation facilities.
- Cemented Monash as having the lowest average rates of all 79 Victorian councils.
- Funded exciting new projects including a major children's playground, the first Council-funded synthetic sporting pitch and the installation of energy efficient street lighting across the whole city
- Created a Debt Management Reserve which will see Monash pay down its $15 million accumulated debt within the next four years, and
- Established a Development Reserve for Council to draw from in future years to fund major projects of long-term benefit to the community.
Adopted Budget - 2013/2014 (pdf, 5MB)
Adopted Budget - 2012/13 (pdf, 2MB)