Financial health check

Published on 13 June 2018

One of our key priorities is to keep our rates among the lowest in Sydney while still being able to continue to invest in infrastructure to improve the livability of the City for our residents.

I am pleased to announce that Council will generate a small surplus that will enable us to keep our rates low, while still continuing to fund and deliver essential services and new major projects that are crucial to our City's future, without the need to borrow and place pressure on rates.

We have worked hard to manage our finances, resulting in an anticipated $3.1 million operating surplus for the 2018/19 financial year.

Next financial year we will spend almost $63 million on new and improved infrastructure including $13.6 million on roads and $2.6 million on footpaths.

We will deliver major projects such as a Multicultural and Sporting Centre of Excellence at Fairfield Showground, the further expansion of Aquatopia, and more open spaces, such as a new community park for the residents of Carramar and Villawood.

These new attractions and improvements will continue to make our City one of the best places to live and work in Western Sydney.

The graphs below reveal the comparison in council rates and borrowings in dollars with our neighbouring councils.

Average residential rates 2017/2018 in $

Comparable rates excluding waste collection and storm water charges. *Figures are based on pre-merger.

Financial borrowings as at 30 June 2017 in $m

Fairfield City Council has one of the lowest borrowings in comparison to the other councils while providing a high level of service to the community.