FAQs
- Rates and charges: 65%
- Grants: 2%
- TasWater Distributions: 1%
- Rents: 2%
- Interest: 2%
- Fees and charges: 23%
What is the budget?
The City of Hobart's budget outlines the services and initiatives it undertakes in a financial year (July 1 – June 30). The budget includes detailed information about the rates and charges to be levied, the capital works program, expected revenue, and where financial resources come from to operate programs and services.
The City of Hobart adopts a 12-month budget cycle in line with the financial year from 1 July to 30 June. The Local Government Act 1993 directs the Council to adopt an operating and capital budget each year by 31 August.
The aim is to produce a budget each year - where revenue generated is sufficient to cover expenditure.
Where does the money come from?
While most of the revenue for the budget comes from rates and charges, money also comes from fees and charges, operating grants, TasWater distributions, rents, and interest on investments.
Budget glossary
Capital expenditure is an expense incurred for a future benefit. For example, capital expenditure may be the purchase of a building or equipment, or the upgrade or replacement of existing facilities or major works to roads, so their value as an asset increases.
Operating expenditures are those required for the day-to-day functioning of the City and to fund services and programs such as maintaining our parks and playgrounds, maintaining roads and footpaths; rubbish and recycling collection; animal management and administering building and plumbing permits.
Operating Budget is the estimated revenues and expenditures the City estimates to receive and spend to continue the day-to-day operations of the council.
Capital Works Program includes infrastructure projects aimed at improving public facilities and services.
Underlying surplus vs surplus: Surplus represents revenue not required to meet the day-to day operational expenditure. Underlying surplus shows the outcome of the City’s day-to-day operations, not including one-off events that create a stark difference in the result.