Hi Danielle
I doubt even the most conservative of Councils would have anticipated a rate peg of less than 2%.
In the 1st instance you maybe asked to re-estimate your rates based on the 0.7% to see how much revenue you have lost if you have already done an estimate based on 2% or whatever it was that your Council anticipated.
Your Management accountant should be also swinging into action and see where any budget cuts can be made.
I think it will take a little time for Council’s to qualify the effects and work out a go forward plan.
