Councils are required to adopt a budget for each financial year. In normal circumstances, the budget is adopted between 1 June and 1 August each year. The annual budget must be consistent with the aims and direction of the council’s corporate plan, its revenue policy and annual operational plan.
There are six main ways that local governments raise money to provide infrastructure and services to communities:
- rates and charges;
- profit from council owned businesses including but not limited to rental accommodation, caravan parks and camping grounds, sporting and recreational facilities and areas;
- grants and subsidies;
- developer contributions and infrastructure charges levied on land being developed to pay for water supply, sewerage and drainage, roads and pathways and public recreation.
Councils are required to document the processes used to raise revenue. These documents are publicly available and include: