The Schrinner Council remains on track to deliver a balanced budget due to continued responsible financial management.
The latest budget update confirms the Schrinner Council has continued spending within its means and is on track to reduce net debt to $2.9 billion by 2028-29.
Key economic and financial figures in the Schrinner Council’s latest quarterly budget update:
- A $314 million operating surplus buffering against any unexpected cost increases
- Spending has been kept under control with a $420.2 million decrease in spending
- Net debt is down from $3.7 billion forecast in June, to $3.61 billion, and on track to reduce to $2.9 billion by 2028-29
This has been achieved while the Schrinner Council delivered massive improvements to keep Brisbane moving, including:
- The launch of Brisbane Metro M1 services and Brisbane’s New Bus Network
- Commencing works to reopen a Story Bridge footpath by the end of the year
- Rolling a citywide green bin service into Council’s core waste service
- Commencing the next stage of the Beams Road upgrade in one of Brisbane’s fastest growing areas
- 78 suburban park projects completed or in progress, such as Glindemann Park and Bill Hewitt Reserve
- 262 road resurfacing projects completed
- Approving 11,104 new homes
- Undertaking 35,000 grass cuts, covering 49,750 hectares across the suburbs
Brisbane City Council has a $4.1 billion budget and is the largest local government in Australia.
Brisbane has the cheapest rates in south east Queensland, with other councils charging residents anywhere between $317 and $702 more per year in rates.
Green/Labor Coalition of Chaos made $3.5 billion in big spending promises during the 2024 election, which would have delivered one of the largest rate rises in Brisbane’s history.
Labor’s so-called leader was also recently exposed for not knowing the difference between net debt and liabilities, demonstrating Labor’s inability to manage Australia’s largest council.