1 INTRODUCTION Federation Council is a regional Council with a low rate base that serves a growing area. Council has maintained very low general rate charges over many decades. This has been due to rate pegging, strong consideration towards the rural rate base and economic factors. Some excellent achievements have been made by the Council given the limited rate revenue and the high level of infrastructure and service demands. Council is working to deliver a program focused on improving the long term sustainability of the Council. Key to this is the delivery of the recommendations and action plans developed through the merger-funded Asset Management and Long Term Financial Planning Services Model – completed in the 2019/20 financial year. The objective of this project was to integrate Council’s asset management planning and whole-of-life costings into service costings to enable more robust long term financial planning to be undertaken. The Long Term Financial Plan (LTFP) provides an Annual Budget for 2020/21 and financial projections through to June 2030 and is an essential component of the Council’s Resourcing Strategy, as required under the NSW Local Government Integrated Planning and Reporting (IP&R) Framework.
Figure 1 – NSW Local Government Integrated Planning and Reporting Framework
The Community Strategic Plan outlines the needs and aspirations of the Federation community, delivered through the Delivery Program and Operational Plans of Council. The Resourcing Strategy is critical to ensuring Council has the capability and capacity to deliver the services as planned. The LTFP aligns the delivery of services as outlined in the community expectations with the requirement for responsible management of Council’s current and future financial sustainability. The aim of the LTFP is to provide the Council with sound financial information upon which to make decisions. Decision made by Council
Federation Council Long Term Financial Plan 2020 – 2030 20/30503
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