Inner West continues strong financial performance
Monday 1 July 2024
The adoption of Inner West Council’s Budget and Long-Term Financial Plan shows that the Council is in a very strong financial position now and into the future.
In good news for residents, this prudent financial management has allowed Inner West Council to keep rates as low as possible.
While other Councils across Sydney have been applying for major rate increases, the Inner West has not. Please see below rates graph for further information.
This has been achieved without seeking additional rate increases above indexation.
This strong performance allows Council to deliver over $362 million in total infrastructure investment over the next four years.
The Long-Term Financial Plan sees Council delivering ongoing surpluses over future years, growing to more than $10 million per annum.
As a result of this successful financial management, Council is able to continue to increase investment in upgrading community assets.
Highlights of Council’s major investments in infrastructure include:
- Completion of the GreenWay, a biodiversity active transport corridor linking the Cooks River to the Bay Run at Iron Cove: $59.9m
- Leichhardt Oval upgrade: $40m
- Renovation of Leichhardt Park Aquatic Centre: $40.5m
- Henson Park upgrade: $12.5m
- Main Street Revitalisation: $7.5m
- Camdenville Park upgrade: $7.6m
- Mackey Park Upgrade: $4.9m
- Roads, footpath, kerb and gutter and storm water asset renewal: $70.7m
Our strong financial performance was recognized when we were awarded the Bluett Award for best performing Council in NSW.
On issuing the award, Chairman of the judging panel, Les McMahon noted Inner West’s financial management, saying:
"Inner West Council had forged three previous inner west councils into a vibrant, responsive and community focused organisation. Inner West Council had also delivered $22 million in savings since amalgamation."
ENDS
For media enquiries please contact Margaret Merten, margaret.merten@innerwest.nsw.gov.au