Greater Geelong council’s latest financial report shows it is not in a financial position to deliver its expected contributions to the 2026 Commonwealth Games.
At Tuesday night’s council meeting, Geelong deputy mayor Anthony Aitken delivered a stark warning, saying the city needed “significant financial support from both state and federal governments” to be able to provide what is expected for the Games.
“This financial report is the first one to say, essentially, we cannot afford the Commonwealth Games in regional Victoria,” Cr Aitken said.
“I should preface that by saying the Geelong council wholeheartedly supports the delivery of the CG in regional Victoria. This is a once in a lifetime opportunity for the council and the community, but our latest financial results do indicate, sadly, that at this point in time we cannot afford it.”
In addition to needing “direct financial contributions” from the federal government, Cr Aitken said council would also consider approaching the state government to review the borrowing caps for local governments and provide exemptions on rate rise caps.
“Existing borrowing caps… for local government need to be reviewed and considered,” he said.
“Council may have to borrow funds to spread the costs associated with the Commonwealth Games across future generations.
“At some stage we will have to look at rate-capping. Council… may need to put a proposition to the state government that we need to seek an exemption from rate-capping to actually pay for our contributions towards the Commonwealth Games.”
Cr Aitken acknowledged residents may not support rate rises to fund Geelong’s involvement in the Games.
“The community would not possibly be happy with that as a solution,” he said.
“So this is a sobering point in terms of our responsibility as a council. We do embrace the state government’s wish to deliver the CG in regional Victoria, but we can’t do it without significant financial support and intervention by the state and federal governments.”
Cr Bruce Harwood pointed out that while there were parts of thecCity’s operations that could be looked at, the council faced some difficult decisions.
“We are aware that our financial scenario has changed dramatically in recent times,” Cr Harwood said.
Cr Kylie Grzybek agreed, adding that all levels of government were suffering the same financial pressures.
“We’re not on our own here; all levels of government are experiencing this tightening of the belt,” Cr Grzybek said.
“We need to sit down in this budget period and have a really close look at the things we’re delivering and the things that we do as a council.”
