Financial Information

The Council’s Financial Information has been provided and it covers the last three financial years and December 2024 (Q2, 2025). The information shows income and expenses and compares actual to what has been budgeted. This helps measure the Council’s financial performance. These figures do not include PARC.

Income - Actual vs Budget
Income Sources
Expenses - Actual vs Budget
Main Expense Types
Actual vs Budget Comparison

Income - Actual vs Budget

The Actual and Budgeted income amounts are shown (Q2 for this current year and final amounts or Q4 for each previous year). For this current financial year (ending 30 June 2025) the income is forecasted to reach $227.3 m. Last financial year the actual income was $245.6m.

Income sources

Rates remain the main income source, followed by Grants. As per the 10 year financial plan (2021-2031), a key strategy is to reduce the reliance on rates revenue. Our advocacy team will continue to source more grant funding from other levels of government.

Expenses - Actual vs Budget

The Actual and Budgeted expense amounts are shown (Q2 for this current year and final amounts or Q4 for each previous year). For this current financial year, the expenses are forecasted to reach $218.4 m. The previous financial year’s actual expenses were $213.6 m.

The main expense types remain steady

Main Council expenses are employee costs then materials and services followed by depreciation. Cost efficiencies gained through operational transformation continue to deliver savings.

Actual vs Budget Comparison

An accounting surplus is forecasted this year (as income exceeds expenses) which will be reinvested for Capital Works and Services so the Council can achieve its Planned activities.

Why do Councils need a surplus?

Council is a not-for-profit organisation. The surplus shown in these figures is not a “cash” surplus, but an operating surplus which allows funds to be invested in current and future capital works programs and initiatives to achieve its Council Plan outcomes. It also takes into account non-cash items such as depreciation.

Disclaimer

Frankston City Council prepares its financial statements in accordance with the requirements of the Local Government Act 2020, the Local Government (Planning and Reporting) Regulations 2020, the Australian Accounting Standards and other mandatory professional reporting requirements. Victorian Local Government authorities are required to follow the prescribed format of the model financial report issued by Local Government Victoria to ensure standardised financial reporting across the sector.