The City of Greater Bendigo's debt levels have increased to $24 million to fund council's extensive capital works program.
The 2012-13 annual report shows a sound balance sheet, revealing that current assets of $1.26 billion "are more than adequate to meet liabilities".
Chief executive officer Craig Niemann said the annual report showed the city was in a strong financial position.
“The city is projecting an operating surplus of $8.9 million in 2013-2014 and continuation of its strong balance sheet position over the lifespan of the 2013-2017 council plan," he said.
"The generation of operating surpluses over the next four years provides a key source of funding for new capital initiatives.”
Major works this year included the development of the new generation Bendigo Library, the Bendigo Art Gallery expansion and the new theatre at the old Bendigo Gaol.
Mr Niemann said debt levels remained low, but increased to $24.16 million to fund the city’s capital works program. Works included 34kms of drainage works, 19.6kms of new road built, 32kms of kerb and channel installed, 27kms of new footpaths constructed and 42.5kms of roads resealed.
Council also issued more than 1170 planning permits valued at more than $270 million.