The Long Term Financial Plan forms part of a Resourcing Strategy that provides the link between the Community Strategic Plan outcomes and Council’s Delivery Program and Operational Plan (four and one year budgets). It explains how the organisation will meet its obligations now and in the future, taking into account our workforce, our finances and our assets. The Resourcing Strategy enables us to deliver our services to the community in the most sustainable way.
The Budget 2015/16 and the Long Term Financial Plan 2015-2025 is reviewed by Council’s auditors, Hill Rogers Spencer Steer. Hill Rogers Spencer Steer has provided an
Independent Assurance Report dated 25 May 2015. The inclusion of the auditor’s review is in line with better practice and benefits our stakeholders.
In forecasting to 2025 we take into account a range of economic factors likely to affect our performance and finances and also make assumptions about how levels of service delivery to the community may change over time.
The Long Term Financial Plan is important because it:
- Reflects our future financial position based on delivering service levels defined in the Delivery Program
- Allows the costs of long term strategic decisions to be quantified and debated
- Assesses the financial sustainability of service levels
- Determines the risk of future strategic directions
- Allows scenario testing of different policies and service levels
- Enables testing of sensitivity and robustness of key assumptions
The Long Term Financial Plan is an extension of the four-year plan (Financial Forecast 2015-2019). It shows a surplus before capital grants and contributions over the next ten years.
The Long Term Financial Plan has been developed based on:
- Fully funding the infrastructure renewal program
- New loan borrowings
- Additional maintenance costs and increased depreciation as a result of major facilities upgrades
In this section:
- Income Statement
- Balance Sheet
- Cash Flow Statement
- Simplified Cash Flow Statement
- Capital Budget Statement
- Cash and Investment Statement
- Commercial Activities