MORNINGTON Peninsula Shire deputy mayor Cr Paul Pingiaro has reaffirmed the council will not exceed the state’s three per cent rate cap or future rate caps, after cutting its ten-year projected deficit from $296m to $3m. The deficit cut was announced in the shire’s Financial Plan 2025-26 to 2035-36, adopted on 30 October, which also forecast a $67.2m cash balance by 2035, up from $3m projected last December. The dramatic turnaround has prompted questions from residents about how the deficit was achieved, what financial measures were used, whether rate rises would be applied, and if the changes could affect core…
Monday, November 10
