IPART Approves SRV Application

On the 10 of May 2022 IPART approved Council's special variation application to increase its income above the rate peg of 15.7% in 2022/23 (including the rate peg) and 17.5% in 2023/24 (including the rate peg).

IPART gave approval for a Permanent increase of:

• 15.7% in 2022-23
• 17.5% in 2023-24

= 35.95% cumulative permanent increase over 2 years, applied across all rating categories.

The Approved Purpose of the SRV is:

• Continue delivering existing service levels without a significant reduction
• manage a range of financial impacts (e.g. maintenance of grant-funded new assets and natural disasters)
• ensure long-term financial sustainability

Click here to view IPART's Final Report

Details about council’s proposal can be found on IPART’s website.

https://www.ipart.nsw.gov.au/Home/Industries/Local-Government/Reviews/Special-Variations-Minimum-Rates/Special-Variations-Minimum-Rates-2022-23