The document scored in-principle approval at last week’s council meeting.

It showed that in the year ended June 30, 2017, there was a $10.274 million surplus, compared to $4.793 in 2015-16.

Councillor Tim Quilty, who was on the committee overseeing the report, was quick to explain away the surplus.

"Don't get too excited about the $10 million surplus figure, a large chunk of that is made up of three payments at the end of the year for this year's government grants,” Cr Quilty said.

"It's not clear exactly how much surplus we are going to get to spend next year or save."

Cr Quilty was more upbeat about the latest estimated worth of the council’s Logic industrial hub.

"For the record land at Logic has been freshly valued at a market value of about $40.350 million, which breaks up into $26.5 million for 82 hectares of serviced land, $12 million for 300 hectares of currently unserviced land and $1.6 million for six hectares of commercial land and then there is a little bit of rump left over," Cr Quilty said.

"I'd like to say I look forward to those numbers falling as we sell off some land in the future and ratepayers finally get a return on the project

"Although if you're getting excited about spending the money, you should keep in mind that there's 300 hectares of undeveloped there that needs more invested in it.

"So that's going to be an ongoing spend in the future, ploughing money back into it."

Mayor Anna Speedie reinforced the value of Logic in terms of rates growth, with a $629,000 jump in that area largely linked to the centre at the junction of the Murray Valley Highway and Hume Freeway.

"(There's) an uplift in our rate revenue partly as a result of rates now being received from other new businesses at Logic, which was always the intent," Cr Speedie told the meeting.