The failed rollout of paid parking in Yarraville and the inability of councillors to agree to a new parking policy is likely to cost Maribyrnong council more than $2.5 million, its annual budget shows.
An adjustment to the 2016-17 budget, adopted at last week’s council meeting, shows an expected reduction of ticket machine revenue of $1.28 million from July 1, of which only $150,000 is offset by cost savings.
This comes on top of an estimated $1.4 million drop in takings from meters in the seven months since councillors voted to switch off the parking meters in Yarraville village and central Footscray.
Their subsequent failure to agree on a new parking policy means the machines are likely to stay switched off until a new council forms after the October local government election.
The revised 2016-17 budget will cover the revenue shortfall via salary savings of $157,000 and a loan repayment saving of $972,000 – a saving achieved by paying out council debt using almost $2.7 million drawn from the unfunded super reserve.
The council’s director of corporate services, Celia Haddock, said the reserve had been set up to meet potential shortfalls in the benefits fund.
“The balance of this reserve at the end of the 2015-16 financial year is anticipated to be $4.5million,” she said. “This will give council more than enough time to replenish the reserve from the next two budgets.”
The adjusted budget also includes $100,000 towards the Braybrook Football Club pavilion and a $200,000 community-city plan.
Ms Haddock said this community-city plan would involve developing a framework and comprehensive plan to maintain existing community infrastructure.
“Community infrastructure refers to all city assets; for example, buildings, open space, sporting fields, pavilions, roads, drains, bridges and bike paths,” Ms Haddock said.
