From www.themandarin.com.au: Victorian local councils experienced slower growth in grant income during the 2023-24 financial year, resulting in only 50 councils reporting a surplus compared to 74 the previous year.

The audit office’s report highlights that while local government spending outpaced income, adjustments for grant timing would reveal better performance, as only eight councils would have reported a net loss if grants were allocated correctly.

Additionally, councils underspent their capital works budgets by 17%, despite an increase in the value of physical assets due to new additions and revaluations.