Updated: Aug 7, 2020
High council debt means higher rates for rate payers!
Wyndham's current debt to revenue ratio - a measure of financial leverage shows Wyndham City Council is highly leveraged compared to similar council with the same population size and growth rate.
Wyndham Council debt ratio sits at 27.32%. The highest compared to similar councils within the same population range and growth rate.
How your rates are calculated
Interest repayments on borrowings are factored into the determination of rate revenue required by council and passed on to rate payers. Higher borrowings implies higher fees at rate payers expense to keep council debt serviceable.
Vote for a debt free Council!
In council, I will be pressing for a debt free council.
I will work with other councillors and council staff to explore alternative revenue streams and put debt elimination at the core of our strategy. Repaying our debt should be a priority to keep money back in our rate payers pocket.
Monash City, Hume City are examples of debt free councils.