Special Rate Variation (SRV)
The 9% Special Rate Variation (SRV) approved in 2009 for 5 years expired in 2013-14. Following extensive community consultation and financial analysis, Council resolved to place an application for an ongoing SRV. The IPART approved Councils application for a 9.7% SRV beginning in 2014-15 and to continue on an ongoing basis. This 9.7% is in addition to the standard 2.3% rate peg. The extra $7.5 Million generated by the SRV will be used for maintenance and construction of infrastructure throughout Liverpool.
The Past 5 Years
Council had a 9% Special Rate Variation (SRV) in place from 2009/10 - 2013/14. This extra income was used to fund vital capital works and improvements across the city. Notable works arising from the SRV included:
- Restructuring, patching, upgrades and resurfacing to several high use roads including Wonga Road Lurnea, Twelfth Avenue, Austral, Devonshire Road, Kemps Creek and Governor Macquarie Drive
- New footpaths, park improvements and playgrounds at Lady Woodward Park, Starling Park and Vasta Park.
- Recreation and Leisure Centre upgrades at Michael Wenden, Holsworthy and The Whitlam Leisure Centre.
- Stormwater pipe renewal and flood mitigation works across the Local Government Area.
These works and improvements to the city were financially unachievable before the approval of the SRV by IPART in 2009.
Why Did We Apply to Continue the SRV?
In a T-corp assessment of Council's financial position towards the end of the SRV's term (March 2013) it was discovered that Council's current financial position was sound with a negative outlook.
A major outcome of the assessment was that Council needed more money to fund the range of services requested by the community and the infrastructure maintenance and upgrades required for such a large and growing city.
"As Council's SRV is only in place until 2014 Council needs to develop strategies to replace this revenue to continue their infrastructure maintenance." (T-Corp assessment)
This means that if we didn't continue with a special rate variation we would need to reduce the amount of road works, infrastructure projects and services we deliver.
Council's Long Term Financial Plan (LTFP) also indicated that to effectively meet the demands of a growing city Council needs funds in addition to the extra nine per cent. This funding gap was further highlighted during the recent development of Growing Liverpool 2023, the 10-year plan for Liverpool, as the community requested an improved and increased range of services, in particular in relation to transport infrastructure, safety and the look of the city centre.
As a result of this assessment and financial outlook Council investigated the viability of a continuation of the SRV to fund these projects.
What the Community Said
Council asked the community through a large scale Consultation process, which option they wanted moving forward as a city; reduce rates and services, keep things the same, or improve services.
More than 3,500 responses were received, with the majority of respondents supporting continuation of the existing 9% special rates variation (SRV).
As a result of this consultation, at its meeting on 5th February 2014, Council resolved to submit an application to the Independent Pricing and Regulatory Tribunal (IPART) for a special rates increase of 9.7% in addition to the 2.3% standard rate peg.
IPART also approved Councils application for the SRV to continue on an ongoing basis. The 2014- 15 budgets for a 12% increase in rates consisting of 9.7% SRV and 2.3% standard rate peg.
Council must use the additional income for the purposes of funding the program of essential asset maintenance and capital improvement for road works, community centres, drainage, parks and sportsgrounds.
What Will the Money Be Used For?
Council has allocated the additional money to vital works in 2014-15 and will be providing half yearly updates on projects funded by the SRV, as well as a full analysis in the Annual Report for 2014-15.
Planned works utilising the SRV include:
- Essential Road works
- Bridge rehabilitation and renewal
- Implementation of the Disability Action Plan
- Flood mitigation works
- Playground replacement
- Pavement Stabilisation and Strengthening
A full list of these works can be found in Council's Delivery Program 2013-17 and Operational Plan 2014-15.
SRV Update April 2015
As at February 2015, Council has invested $3.1 Million in a range of projects including essential road and pavement works, new and improved playgrounds, floodlighting, bus shelters and upgraded pedestrian access.
Completed works include:
- Road upgrades at Whitford Road, Hinchinbrook
- Road reconstruction at Woolnough Place and Fassisfern Place, Cartwright
- New bus shelter at Heckenberg Avenue, Sadleir
- Road reconstruction at Dorset Place, Miller
- Improvement works to the Casula Powerhouse Arts Centre
- Upgardes to Edwin Wheeler Carpark, Sadleir
- Traffic facility upgrades at Kurrajong Road, Casula and Sandringham Drive, Cecil Hills
- Footpath construction at Junction Road, Moorebank and Heckenberg Avenue, Sadleir
Whitford Road, Hinchinbrook.
SRV Budget $400,361
Council will provide regular updates on completed and planned SRV funded works on this page. Check back regularly for new information.
last updated on 2016-03-29AEDT14:03:56+1100