Council has undertaken a detailed Community Engagement process over the past six months, to update the existing Community Vision and develop a new four-year Council Plan. Almost 2,000 residents, including 142 of our youngest residents, have provided feedback on community priorities for the Council to consider. As is legislatively required, a Community Working Group made up of 45 community members provided detailed feedback through a deliberative engagement process.

In addition, the draft Budget will go out for community feedback for 4 weeks from 24 April to 5pm 23 May.

Community members can submit feedback on the draft Budget via the Your Say Yarra page or by visiting one of the in-person pop-up sessions or registering to attend the online information session. Interested community member or groups who provide feedback during the process will also have the opportunity to speak to their feedback at the Council Meeting on 3 June 2025.

The draft Budget, Financial and Revenue and Rating plan is informed by the draft Council Plan 2025-29. The draft Council plan was informed by extensive community engagement over two stages of consultation.

The draft Budget, Financial and Revenue and Rating Plan will be placed on public exhibition for a period of four weeks from 5pm on 24 April 2025 until 5pm on 23 May 2025.

Like all councils in Victoria, Yarra is facing challenges to our financial sustainability from rising cost pressures, rate capping and cost-shifting, along with increasing pressure and demand on our services and infrastructure from a rapidly growing population.

While there has been some moderation in CPI over the past six months and we have seen one interest rate reduction this year, the cost-of-service provision and delivering capital continues to grow at a rate faster than rate capping.

Despite these significant challenges, Council is proposing to deliver a balanced and responsible draft Budget for 2025/26, investing in our community’s future and delivering a more liveable city, while continuing to act financially responsible.

The Long-Term Financial Plan (LTFP) 2025/26 to 2034/35 is a 10-year financial plan. The LTFP outlines the resources required to deliver the draft Council Plan 2025-29 and the draft updated Community Vision 2036 and ensure we are investing in assets the community values; that our services meet the needs and expectations of the community, are affordable and accessible; and that our organisation remains financially sustainable. Council has updated the LTFP to reflect the 2025/26 Budget and the ten years ahead.

The Revenue and Rating Plan explains how the Council calculates its revenue needed to fund its activities (includes rates and charges and fees and charges) and how the funding burden can be apportioned between rate payers and other users of Council facilities and services. 

The LTFP and the RRP are developed in the context of strategic planning principles required under section 89 of the Local Government Act 2020 and form part of Council’s responsible financial program.

Like all other councils across Victoria, Yarra is facing financial challenges with rising cost pressures, rate capping and cost shifting, coupled with unprecedented growth and increasing pressure and demand on our services.

We must acknowledge that the costs of providing community services are increasing at a higher rate than both the Consumer Price Index and the Victorian Government’s rate cap, further depleting our reserves and challenging our ability to provide these services for future residents.

In 2025/26, general rates will increase by 3.0 %, in line with the rate cap implemented by the Victorian Government. This will help ensure Council can continue to provide quality services and infrastructure to our community now and into the future.

Increases to the Public Waste and House Bin Collection charges will also be capped at the Rate Cap level of 3.0% despite the Victorian Government’s land fill levy increasing by 30% from 1 July 2025.

Council has announced that it will undertake a full review of waste services across Yarra, with more details to be communicated to the community throughout 2025.