Draft Operational Plan and Budget

Following the significant economic impacts of COVID-19, Council’s draft Operational Plan and Budget 2021/22 has been carefully prepared to factor in a recovery phase.

The economic impacts of COVID-19 significantly affected Council’s financial position with operating losses before capital contributions of $11.51 and $9.99 million (projected) in 2019/20 and 2020/21 respectively. The 2021/22 budget forecasts a return to surplus of $5.27 million before capital contributions underpinned by the improving economic environment and business normalisation.

Despite the financial constraints and pandemic challenges, Council has been able to deliver most of the projects and services to which it had committed by drawing on reserves. However, moving forward, future projects and programs will be affected by the losses over the past two financial years. As a result, Council has adopted a conservative operational plan, which still delivers on essential services and projects, but steers the Council on a course of recovery.

Council General Manager Ken Gouldthorp said $79.2 million has been allocated from the upcoming budget for capital works, with infrastructure renewals making up $71.1 million of that total.

“This is the final year of the special rate variation which has allowed Council to invest in infrastructure renewal. The major projects for this year are the redevelopment of the North Sydney Olympic Pool, the Hume Street Park expansion project and upgrades to the Kirribilli and McMahons Point Villages.

“If the Council stays on course and focuses on delivering these priorities, it can expect a modest surplus of $5.27 million in the 2021/22 financial year.”

The community can now have their say on the draft Operation Plan and Budget 2021/22.

An information session will be held on Tuesday 15 June and feedback will be received until 22 June.

Following the Council elections on 4 September 2021, the Community Strategic Plan will be reviewed, and the next Delivery Program and Forward Estimates prepared, with input from the community.

Capital Projects include:

  • Coal Loader Pop up bar, shade structure, irrigation system replacement and Tunnel 2 resurfacing – $690,000
  • Hume Street open space expansion project - $1.75 million
  • North Sydney Olympic Pool redevelopment – $48 million
  • Bus shelter replacement – $375,000
  • Road reconstruction – $3.1 million
  • Drainage works – $2.4 million
  • Footpath works – $1.9 million

Projects fully or partially funded by the SRV in 2021/22

  • St Leonards Park Masterplan Implementation – $1.65 million
  • Neutral Bay and Cremorne Village upgrades – $2 million
  • Kirribilli and McMahons Point Village upgrades – $1 million
  • Grasmere Children's Park Playground upgrade – $300,000
  • Gore Cove to Smoothey Park walking track upgrade – $90,000

Capital projects funded by grants

  • Acquisition of the Quarantine Boat Depot at Waverton and development of public access
  • Preparing design options to underground the multi-story Holtermann Street Carpark and create an urban park
  • Primrose Park Tennis Court refurbishment

 

Posted on 10 June 2021

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