As well as the capital works program, the draft 2013/14 budget and 10-year corporate plan also includes a $100 million annual operational surplus. The result highlights the council’s strong financial position and confirms the recent NSW Treasury Corporation assessment of its financial sustainability as strong with a positive outlook, the only council in NSW to achieve this result.
“With careful planning, broad consultation and prudent investment over a number of years we’ve built a healthy bottom line for our global city and villages. Now we want to invest those funds to strengthen Sydney’s international reputation as a leading global city – renowned for its lifestyle, economy, tourism, sustainability, open space and cultural life,” Lord Mayor Clover Moore said.
Major commitments in the City’s Corporate Plan include:
- $400 million for Green Square which includes new roads, parks and open space, a new town centre, library and recreational facility and affordable housing;
- $220 million to transform George Street and connecting laneways as part of the light rail project;
- $180 million for new and upgraded footpaths, roadways and paving;
- $100 million to upgrade the City’s parks and green spaces;
- $55 million for six new childcare centres; and
- $37 million to integrate the Barangaroo development with Millers Point.
The City will invest $200 million between now and June 2014 on projects that include:
The $12.5 million stormwater harvesting project at Sydney Park, in conjunction with the Federal Government;
- $7 million for public art and the revitalisation of six city laneways including Abercrombie Lane and Hosking Place in the city centre and Argyle Street in Millers Point;
- More than $17 million for critical new links for our bike network, including stage 2 of the Kent Street cycleway and new cycle connections at Broadway; and
- More than $10 million on projects to improve streetscapes and access for pedestrians, including Darlington Village in Redfern , Foley St in Darlinghurst, and Bayswater Rd, Kings Cross.
- The $10 million refurbishment of Heffron Hall and Albert Sloss Park in East Sydney;
“Putting the City’s strong financial position and long term capital works program at risk by manipulating boundaries as the recent Sansom report recommends, is dangerous and incredibly reckless,” the Lord Mayor said.
“Evidence from other cities shows that the costs of mega amalgamations far outweigh any benefits – Queensland councils say the cost of their forced mergers was $185 million and reports say Auckland spent around $100 million just merging eight councils together.
“Rather than wasting money on boundaries, the City should continue our investment in long term infrastructure, beautiful parks and open space, affordable housing and high quality services for residents, businesses and visitors.”
The City’s draft 2013/14 Budget and Corporate Plan will be on public exhibition until 12 June.
For more information visit cityofsydney.nsw.gov.au