Latrobe City Council endorsed funding for additional key projects resulting from a cash surplus in the 2024/25 financial year, as presented at the September Council meeting.
A cash surplus of $7.3 million has been realised against the adopted budget.
In accordance with the resolution of Council at the June 2024 Council Meeting, 50 percent of the 2024/25 actual year end surplus position ($3.6 million) has been allocated to the Transition Reserve to further support Council's long term financial sustainability and economic development.
Several projects have been identified for funding allocation by Council. These projects include replacement and rectification works, enhanced maintenance programs and new infrastructure detailed in adopted plans and strategies. Funding will be allocated to the following:
- $600,000 for the design and construction of a new public toilet at Immigration Park Morwell
- $500,000 for the detailed design of a new multi-use pavilion at Northern Reserve Newborough
- $120,000 for the detailed design of netball and tennis changerooms at Yinnar Recreation Reserve
- Allocation of $3.4 million to an Infrastructure Projects Reserve to be used as co-contribution funding to leverage State and Commonwealth Government funding streams
- $250,000 to replace lockers at Gippsland Regional Aquatic Centre
- $150,000 towards site remediation works for decommissioned infrastructure at Council's Morwell Depot
Latrobe City Council Mayor, Councillor Dale Harriman said Council is pleased to again be able to provide a cash surplus to provide more funding to key projects.
"Council is excited to provide more benefits to the community through a range of additional projects that focus on a variety of improved amenities," said the Mayor.
"Allocating $3.4 million towards an infrastructure projects reserve highlights Latrobe City's commitment to fund the construction of new assets in partnership with the State and Federal Governments. We are ready to deliver transformational projects that will shape the future of our region."
"I look forward to seeing these projects come to life and be put to good use by the Latrobe City community."
