Draft Long Term Financial Plan 2025-2034

Council decision/outcomes

At its meeting on 6 December 2023 the Audit & Risk Committee considered the feedback received (one submission) and made the decision to adopt the revised Long Term Financial Plan for the financial years from 2025-2034. This recommendation was endorsed by Council at its meeting on 12 December 2023.

Audit & Risk Committee - Notice, Agenda and Reports - 6 December 2023

Audit & Risk Committee - Minutes from 6 December 2023 meeting

Minutes from Council meeting held 12 December 2023

Background

We are inviting our community provide feedback on our draft Long Term Financial Plan 2025-2034

The purpose of a Council’s Long Term Financial Plan (LTFP) is to express, in financial terms, the activities that it proposes to undertake over the medium to longer term to achieve its stated objectives.

It is similar to, but usually less detailed than, the annual budget. Just like the annual budget, it is a guide for future action, although its preparation requires the Council to think about not just one year but the longer-term impact of revenue and expenditure proposals.

The LTFP is underpinned by a set of ‘five guiding principles’ that were adopted by Council:

1. Maintain existing assets at existing service levels
2. Continue to review assets with proceeds being reinvested into the city and community
3. Maintain debt within the targeted range of 25%-35% over the life of the plan
4. Retain tight constraints on operating expenditure
5. Ensure that the capital works program retains a level of funding for new works and enhancements to community infrastructure

The LTFP should specify and take account of:

1. Expected expenses and capital outlays for each year of the plan
2. Expected revenues for each year and their source
3. Any variations in net debt required as a result of expected cash flow needs
4. Performance measures to enable assessment of the Council’s financial sustainability over the period of the plan.

The LTFP should include estimated:

1. Income Statement
2. Balance Sheet
3. Cash Flow Statement
4. Statement of Changes in Equity
5. Uniform Presentation of Finances
6. Key Financial Indicators.

The LTFP is created in quarter two of the financial year with the intent that this document creates a guide to help inform the development of the 2024-25 financial year budget.

To get involved and have your say:

• Register here (if you haven't already, otherwise you can sign in when prompted)
• Review the draft Long Term Financial Plan 2025-2034
• Provide your feedback by using the online feedback form below
• Send us an email submission
• Post a submission to PO Box 571 Modbury SA 5092
• Have a question? Ask us below

All feedback received will be presented to Council for consideration before the Long Term Financial Plan 2025-2034 is adopted.

If you need assistance to participate in this consultation, please call us on 8397 7444 or send us a message