Colac Otway Shire (VIC) Council budget and finances

Budget & finances

Every Victorian council reports the same set of financial measures to the state each year, under the Local Government Performance Reporting Framework (LGPRF). The state doesn't set pass marks for these measures. So we show Colac Otway's figure for 2024–25 next to the median of all Victorian councils. The median is the middle value: half of councils are above it and half below. The median is a point of reference, not a target.

New to these terms? Read them in plain English

Operating result (surplus / deficit): Income minus expenses for the year's normal operations.
Average residential rate: The typical yearly general-rates bill for a home in the area.

See the full explainer, with formulas →

The numbers

Average rate per property (2024–25): $2,023General rates plus the municipal charge, divided by all property assessments (homes, farms and businesses). The Victorian median is $1,937.
Adjusted underlying result (2024–25): 8.0% deficitThe operating result without capital grants and contributions, as a share of that revenue. The Victorian median is a 0.56% surplus.
Loans and borrowings: None in 2024–25; a $500,000 loan planned in 2026–27The LGPRF shows no loans or borrowings for 2024–25 (Victorian median 13.2% of rates). The 2026–27 budget provides for one new $500,000 loan, approved in 2025–26 but not yet drawn, for the Bluewater Leisure Centre electrification project, repaid over 10 years (budget section 4.2.3).
2026–27 budget result: Budgeted deficit of $5.73 millionThe council says this is mainly timing: the Victorian Local Government Grants Commission indicated that 80% of the 2026–27 Financial Assistance Grants would be paid in 2025–26, so 2026–27 operating grants fall by $7.3 million, while the money remains available to spend in 2026–27. The budgeted adjusted underlying deficit is $12.9 million.
2026–27 capital works: $13.06 million of new works; $28.51 million including carry-oversThe total includes an estimated $15.46 million carried forward from 2025–26 projects. $11.74 million goes to asset renewal, which the budget says is 67% of the council's renewal target (110% of depreciation).

Measure (2024–25)	Colac Otway	Victorian median
	−8.0%	0.56%
Current assets ÷ current liabilities (short-term liquidity)	3.20×	2.17×
Unrestricted cash ÷ current liabilities (free cash)	1.35×	0.26×
Loans and borrowings ÷ rates	0.0%	13.2%
Loan repayments ÷ rates	0.0%	1.4%
Non-current liabilities ÷ own-source revenue	20.2%	16.7%
Asset renewal and upgrade ÷ depreciation	89.5%	94.9%
Rates ÷ adjusted underlying revenue (reliance on rates)	57.5%	57.8%
Rates ÷ property values	0.30%	0.28%
Expenses per property assessment	$4,382	$4,100
Average rate per property assessment	$2,023	$1,937

Colac Otway Shire Council, LGPRF financial measures, 2024–25, next to the median of the 79 Victorian councils reporting each measure. Source: Local Government Victoria, LGPRF 2020–2025 Full Council Data Set (Nov 2025 release), CC BY 4.0. The median is CouncilBeacon's own calculation.

The LGPRF has no official benchmarks, and Local Government Victoria says its data shouldn't be used for simplistic league tables. So we don't mark any figure as a pass or a fail, and we don't rank councils. The Victorian median is CouncilBeacon's own calculation, taken across the Victorian councils that report each measure in the 2024–25 data set. A figure above or below the median isn't good or bad in itself. Councils differ in size, assets and services. Colac Otway is in the LGPRF's 'Large Shire' group, and the council's annual report explains its own results. The 2025–26 LGPRF figures are due in about November 2026.

Sources — check it yourself

Figures are current as at the dates shown and may change — always confirm with the linked source. See the notice at the bottom of the page for full details and how to report a correction.