Budget 2024-2025 Response
SPRA have significant concerns about the rise in rate revenue and debt position of the council. SPRA would prefer to see council spending cut or deferred rather than rate rises at more than double the rate of inflation.
In our response to the draft of the 2023-2024 budget, SPRA noted concerns about the Payneham Memorial Swimming Pool and the significant increase in council debt represented by the Net Financial Liabilities Ratio (NFLR). Twelve months later the budget of the Payneham Memorial Swimming Pool has tripled to $60 million with the potential to increase further. The NFLR has increased from the previous peak of 117% to 162% and will still be above 130% in 2034.