The City of Yarra's 2026–27 draft budget delivers a major capital works program of around $40 million while keeping rates within the rate cap of 2.75%.
Yarra City Council Mayor, Cr Stephen Jolly, said the budget is focused on the basics, while also helping buffer residents and businesses from rising costs.
"This is a considered, temporary step that allows us to respond to immediate pressures, support the community, and continue investing in Yarra's future.
He added that he was proud that this is achieved with no cuts to services.
"From day one, this Council said we would get back to delivering on the basics – roads, rates and rubbish," he said.
"This budget puts more than $7.3 million into road renewals, footpaths, kerb and laneway works, more than $1.6 million into cycle infrastructure, and close to $1.1 million into road safety."
Cr Jolly said the budget also responds to real cost-of-living pressures in the community.
"We know many people are doing it tough, and Council is doing what it can to help," he said.
"We are temporarily capping waste charge increases and continuing free parking trials – practical measures that will help buffer some of the cost pressures facing our community."
Cr Jolly said residents will also notice improvements in everyday amenity.
"We're investing in cleaner streets, better-maintained parks and public spaces, and more responsive customer service," he said.
Council is also reviving the Brunswick Street Festival, something Cr Jolly said is good news for local business and for the people of Yarra more broadly.
Cr Jolly said the budget had been made possible by years of disciplined financial management.
"Council's financial position is stronger today because of the work done under our Financial Sustainability Strategy," he said.
"Without those improvements, we would not be able to absorb major cost pressures, including around $3.4 million in additional waste costs, while still investing in the services and infrastructure our community relies on."
Cr Jolly also Said Yarra's budget process remained hindered by increased State Government cost shifting
"The reality is, we start every budget around $10million behind the eight-ball – picking up the State Government's tab on libraries and crossing supervisors, as well as getting cut off from developer levies."
Cr Jolly added that all this is happening while Council plans for around 44,000 new dwellings by 2050.
"That means making room for tens of thousands more people while protecting what people love about Yarra," he said.
"We will not be giving up a square metre of open space. In fact, this budget invests $9.3 million into open space — creating new inclusive open space and improving accessibility to parks, sportsfields and playgrounds."
"This is sensible, planned investment that keeps Yarra moving, helps our community through a difficult period, and puts Council on a sound footing for the future."
Highlights of the Draft Budget include:
- More than $9.1 million for new and improved open space
- More than $6.9 million on road, footpath, kerb and laneway renewal
- More than $1.6 million for bicycle infrastructure
- Nearly $1.2 million for road safety upgrades
- More than $4.2 million for stormwater and drainage improvements.
- Continuing the electrification and upgrade of Collingwood Leisure Centre
- Progressing the Richmond Library redevelopment planning
- Renewing equipment across our leisure centres; and
- Designing upgrades for Yarralea Kindergarten, Alphington Bowls Club and other key facilities.
Community consultation will commence on Friday 17 April.
