The City of Sydney's new budget directs $597 million in operational expenditure, grants and services over the next financial year and earmarks $2.2 billion for hundreds of major capital projects over next 10 years.
Last night Council unanimously endorsed the City's draft 2024/25 budget and approved it for public exhibition and feedback.
Lord Mayor Clover Moore said the long-term financial plan maps out the City of Sydney's provision of high-quality services alongside capital works investment, including revitalised parks and streetscapes, public domain improvements and state-of-the-art community facilities.
"The City has developed a track record of sound financial management that allows us to keep service level and investment in our community facilities high, while keeping rates low," the Lord Mayor said.
"This is a budget that goes above and beyond, with significant investment in the social, economic and environmental life of our city to ensure it is the best place to live, work and visit.
"Our population is growing, and we will continue to provide the infrastructure that makes growing communities liveable, with world class parks and playgrounds, pools and libraries, connected by safe transport options and walkable streets.
"We have allocated over $235 million for capital works projects ranging from major streetscape renewals and bike lane connections to new and improved playgrounds, parks and community facilities.
"We will be transforming Crown Street and Chinatown, building an important cycle link down Oxford Street and opening up the Sydney Park brick kilns for community use, delivering new community spaces and sports facilities in Green Square and Alexandria. Not to mention huge investment in street trees as part of our commitment to increase canopy to 27% by 2030.
"As the community continues to recover from the impacts of the pandemic and struggles with cost of living pressures, we continue to provide grants and support for our businesses, creatives and most vulnerable. This year we will provide nearly $29 million across our grants programs, including our new Aboriginal and Torres Strait Islander collaboration fund.
"We will continue to support businesses and our al fresco city by waiving all outdoor dining fees, and have made our community centres free or significantly discounted to hire for community groups and musicians looking to use those spaces for rehearsal."
An operational expenditure budget of $579.3 million over the next year will support local businesses and maintain community facilities, parks and open spaces, quality roads and waste collection, including:
- $24 million on parks and tree maintenance
- $13 million on road and footway maintenance
- $33.6 million on building maintenance and cleaning.
$236.5 million will be spent on more than 400 capital works including:
- $42.7 million on public domain improvements including Crown Street upgrade works, George Street north pedestrianisation and Dixon Street enhancements. Over the next four years, investment includes $10 million on Victoria Street, $22.5 million on Sydney Square and $5 million on Stanley Street between Crown and Riley streets
- $24.9 million on the bicycle network including Castlereagh Street north, Oxford Street west and Liverpool Street cycleway. Over the next four years, more than $59 million will be spent on 7.3km of cycleways, including Glebe to Ultimo along Kelly, Wattle and Mary-Ann streets, and O'Dea Avenue and Wellington Street in Waterloo, supported by $29.3 million in grants
- $17.1 million on improving properties across the community and commercial portfolios including $2.8 million on Sydney Park brick kilns, $7.5 million on Green Square Public School and community spaces, and $4.8 million on the development of the Huntley Street Recreation Centre
- $12.4 million on open space and parks, with significant works on Gunyama Park and the Perry Park sports field. Over the next four years, $5.2 million will be put towards upgrading Ward Park in Surry Hills and $4.9 million on the renewal of Green Park in Darlinghurst with a restored bandstand and a new AIDS memorial garden
- $5 million on footway renewals across the area
- $3.5 million on planting street trees
- $2.7 million on public art projects including new public artwork Yananurala – Tarra/Dawes Point (Patyegerang) and more at Green Square.
More than $28.7 million will be allocated in the 2024/2025 grants and sponsorship budget that includes:
- $11.5 million across 15 grants programs covering the creative, food support, affordable and diverse housing grants and the Aboriginal and Torres Strait Islander collaboration fund
- $9.6 million in accommodation grants for community groups
- $3.5 million sponsorship of major events such as Vivid Sydney, Sydney Festival, the Biennale of Sydney, Sydney Writers' Festival and Sydney Film Festival.
A $38 million cultural and creative budget has been allocated for projects over the next 12 months including:
- $12.3 million to produce major events such as Christmas, Sydney Lunar Festival and New Year's Eve
- $3 million for the Sydney Streets program, ensuring the single-day street festivals continue to celebrate local neighbourhoods, bring communities together and support local businesses.
The City of Sydney will also continue its support for businesses by waiving all outdoor dining fees until 30 June 2025. Venue fees to hire community spaces will continue to be waived for eligible groups and individuals, and new discounted fees will be introduced for artistic rehearsal with a range of rates, depending on timing, and whether the hirer is an individual or group.
The 2024/25 budget is on public exhibition until 10 June, after which it will be considered by Council for final adoption.
