Each year, the Council is responsible for preparing and adopting budget estimates for the coming financial year. These estimates are prepared taking into account the Council’s Long-Term Financial Plan. The Council also sets the level of rates and charges necessary to generate the income required to deliver the services detailed in the budget. Together these financial documents provide a framework for Council’s Annual Plan
Fees and charges are also reviewed for the provision of services, and these were set at the Council’s ordinary meeting on 24 May 2023 with amendment to the Community Wellbeing fees also being endorsed at the June special Council meeting.
The Council, at its Special Meeting of 7 June 2023, approved the following key documents:
- Long-Term Financial Plan
- 2023/2024 Budget Estimates
- Rates and Charges, and
- Annual Plan.
The Long-Term Financial Plan (LTFP) expresses in financial terms the activities the Council proposes to undertake over the medium to longer term to achieve its stated objectives. The plan has a ten-year horizon. It is a key component of the Council’s strategic management plans and ensures financial sustainability while considering the long-term impacts of decisions. For further information please refer to the Frequently Asked Questions (FAQs).
The 2023/24 Budget Estimates provides detail on budget estimates for Council’s revenue and expenditure for the coming financial year. The estimates are based upon rates and charges income, fees and charges income, and grant funding and government financial allocations. The document translates the strategic goals and priorities outlined in the LTFP into concrete financial figures.
Rate and Charges form a crucial component of Council’s revenue stream. They are levies imposed on properties within the Council’s municipal area to fund the provision of essential services and infrastructure. The rates and charges levied by the Council directly impact the funding available for the proposed budget and the delivery of services outlined in the Annual Plan
The Council’s Annual Plan for 2023/24 summarises the Council’s priorities, projects and initiatives of the Council for the upcoming financial year. It aligns with the strategic objectives set out in the LTFP and reflects the resource allocations defined in the Budget Estimates. The Annual Plan provides a detailed breakdown of how the Council intends to allocate funds and resources to deliver essential services, maintain infrastructure, undertake capital projects, and address community needs. It also outlines key performance indicators to assess progress and outcomes.
Overall, the LTFP provides a strategic vision and direction, while the Budget Estimates, Rates and Charges and Annual Plan operationalise that vision by translating it into financial figures, revenue generation, and allocation of resources for the short term. Together these documents ensure transparency, accountability, and effective financial management within the Council, supporting the delivery of services and the overall wellbeing of the community.
A copy of the Media Release relating to the Special Council Meeting can be found HERE.