Profit drop may hit rates

REVENUE is down and rates and charges could rise, according to a draft copy of Lismore City Council’s 2014/15 budget.

REVENUE is down and rates and charges could rise, according to a draft copy of Lismore City Council's 2014/15 budget.

A 'notice of council meeting' for next Tuesday posted on the council's website says "revenues have been revised down from $97.135 million to $96.253 million", meaning a loss of $882,000 of income.

It also notes a rise in rates to the 2.3% rate peg cap, which would mean an increase of $25.42 annually for the average ratepayer.

But rises in other charges, including waste management increasing by 2.99%, water by 9.95% and wastewater by 4.61%, would mean a total rates and charges rise of $143.94 (5.10%) annually for the average ratepayer.

Mayor Jenny Dowell said the rises were necessary for progression and quite minimal compared to other local councils.

She said the council's Community Strategic Plan and Imagine Lismore 10 Year Plan played a key part in the budget's formation.

In what will likely be welcome news for ratepayers, Cr Dowell said $8 million to be spent on roads in 2014/15 was a considerable increase.

"It is more than usual. That's because we heard from the community that they want us to spend more on roads," she said.

Loss of revenue was attributed to 20 factors, including reduced passenger numbers at Lismore Airport, lower usage at Lismore Memorial Gardens and increased operating costs of Lismore Water.

The 'notice of council meeting' can be found at http://www.lismore.nsw.gov.au.