Golden Plains Shire Council is updating its 2025/26 Budget to reflect important changes that have occurred since the Budget was first adopted in May 2025. This is a crucial step to ensure our financial reporting is accurate and transparent.
The revised 2025/26 Budget addresses three key areas:
- New asset valuations: The value of our roads, bridges, land and buildings have been revalued. This has led to a significant increase in annual depreciation costs.
- Budget roll-forwards: We’ve carried forward funds for multi-year or grant-funded projects that are still underway. This ensures these important projects are completed as planned.
- Overdraft facility: A new $2 million overdraft facility has been established to help manage short-term cash flow and ensure smooth operations throughout the year.
When variations to an approved Annual Budget are identified, a revised budget is required under section 95 of the Local Government Act 2020 and Council must adopt a revised budget as soon as practicable after it has been developed.
Golden Plains Shire Mayor Cr Owen Sharkey said these revisions were required to ensure delivery of all operational and capital projects for the 2025/26 financial year.
These changes are necessary to ensure Council can continue to deliver essential services and capital works for our community. We invite the community to review the revised budget and provide comments, Cr Sharkey said.
Feedback on the revised Budget 2025/26 is invited from 9am, Wednesday 24 September to 5pm, Tuesday 7 October, and can be completed online at goldenplains.vic.gov.au/consultations. Hard copies will also be available at Council’s Customer Hubs, 2 Pope Street, Bannockburn, and 19 Heales Street, Smythesdale.
Feedback on the revised budget will be considered before it is presented for adoption at the October Council meeting. For further information, contact Council’s Finance team at [email protected] or call 5220 7111.