Introduction
AboriginalandTorresStraitIslanderStatement
IntegratedPlanningandReporting
UndertheNSWLocalGovernmentAct1993,councilsarerequiredtodevelopahierarchy ofplansknownastheIntegratedPlanningandReporting(IPR)Framework.
Thisframeworkassistscouncilsindeliveringtheircommunity’svisionthroughlong, medium,andshorttermplans.
TheInnerWestCommunityStrategicPlan(CSP),OurInnerWest2041,identifiesthe community’svisionforthefuture,longtermoutcomes,andstrategiestogetthereand howCouncilwillmeasureprogress.
TheDeliveryProgram(DP)isafour-yearplanwhichoutlinesCouncil'scommitmentto achievingtheoutcomesandstrategiesoftheCSP.ItsetsouttheinitiativesthatCouncil willundertakeduringitstermofoffice.Theone-yearOperationalPlan(OP)sitswithinthe DeliveryProgramandcontainsdetailedactions.
TheseplansaresupportedbytheResourcingStrategywhichconsistsofkey componentsincludingtheLong-TermFinancialPlan(LTFP),theWorkforceManagement Strategy(WMS),andtheAssetManagementStrategyandPlans(AMS&P).
TheLTFPisaten-yearrollingplanthatinformsCouncil'sdecision-makingandshows howtheCSP,andcommitmentsintheDPandOPwillberesourcedandfunded.TheLTFP alsoprovidesthefinancialimplicationsofCouncil'sassetmanagementandworkforce planningbyidentifyinghowadditionalassetswillbefunded,orexistingassetsrenewed orupgraded,andchangestoservicelevels.
ExecutiveSummary
TheInnerWestCouncilwasformedaftertheamalgamationofAshfield,Leichhardtand MarrickvilleCouncilsin2016.Counciloperatesfromapositionoffinancialstabilityandis usingtheIPRFrameworktodrivelong-termfinancialsustainabilityandensureCouncil remainsfitforthefuture.TheLTFPhasincorporated‘FitfortheFuture’FinancialKey PerformanceIndicators(KPIs)alongwithstatutoryAnnualReportingKPIs.
TheoverallobjectiveofthisplanistoensurethatCouncilisfinanciallysustainable,while achievingtheoutcomesofitsCSP.Theintegratedplanningapproachrequiresthat Councilunderstandsitslong-termfinancialpositionandbestdirectsitsresourcesto achievingtheseoutcomes.
TheLTFPsetsouttwoscenariosandeachofthesemaintaincurrentservicelevelsand establishabalancedbudget.Insummary:
Scenario1–Businessasusual,maintainexistingservicelevels.
Councilcontinuestooperateanddeliveritsexistingservicelevelstothecommunity. Thecapitalworksprogramismaintainedtoensureinfrastructureisrenewedor upgradedoverthenext10years.ThisscenarioalsoensuresthatCouncilisfinancially sustainableandtherearefundsavailabletodeliverinfrastructureandservicesto thecommunity.
Scenario2–Addressestheinfrastructureassetrenewalbacklog.
CouncilcontinuestoprovideitsservicestothecommunityasperScenario1,withan additionalprocesstoreducetheinfrastructurebacklogof$29.3mfromthe2023/24 financialstatementsduringthisLTFP.Withtheplannedinfrastructurespendspread overthe10-yeartimeframe,themodelshowsCouncilbeinginageneralfunddeficit bythe2026/27financialyear.
Counciliscontinuallyreviewingitsefficiencyandeffectivenessandreinvesting efficiencygainsbackintothecommunity.Itisacknowledgedtherearechallengesthat willneedtobemonitored,particularlyincapitalworksandassetmanagement,and Councilisworkingtomeetthesechallengesandensurethatassetconditionlevelsare improved.
CouncilhasundertakenacommunityledengagementprocesstoestablishtheOur InnerWest2041-theInnerWestCommunityStrategicPlan.ThisLTFPisalignedtothe outcomesoutlinedintheCSP.However,futureunforeseenfactorscansubstantially impactCouncil’sfinancialposition,andthisplanprovidesausefulwaytoidentify possiblefutureorunexpectedfinancialissues.
FinancialPlanningContext
WorkingCapital
WorkingCapitalrepresentsmoneythatCouncilisrequiredbylawtoholdseparatelyfrom Council’sGeneralFundandcanonlybespentforspecifiedpurposes.
FundsseparatedinWorkingCapitalinclude:
Developer contributions are raised under the Environmental Planning and Assessment Act 1979. These fund the community infrastructure consistent with the contributionsplanthattheywerecollectedtofund. CouncilalsoholdsPublicDomain Contributionsthatdeveloperscontributetowards.
DomesticWasteManagementfundsareraisedundertheLocalGovernmentAct1993. Thesesupportwastecollection,recyclingandrelatedactivities.Fundsarealsoused toreplacegarbage,recyclingandgreenwastebinortruckfleets.
CouncilannuallyraisesaStormwaterManagementServiceChargeundertheLocal Government Act 1993. Any funds not used in any year must be held and used on authorisedstormwatermanagementandrelatedactivities.
SpecificpurposegrantfundingfromeithertheCommonwealthorStateGovernments mustbeheldandonlyusedforthepurposethattheyweregranted.
FundsthatCouncilprovidesforspecificpurposesinclude:
Employee Leave Entitlements: Council sets aside cash to meet accrued employee annual and long serviceleaveliabilities. Council’s Workforce Management Strategy identifiedtheneedtocashback49%oftotalleaveliabilitytomitigateanyfinancial riskssurroundingemployeeleaveentitlements.
Plant,TechnologyandVehiclereplacement:Councilhaslongtermmodelsinplaceto forecast the timing of heavy plant, motor vehicle and information technology hardwarereplacement. Funds areallocatedto ensurethereis budgetavailablefor replacement.
Funds that Council holds in trust either on behalf of other parties or under a Trust arrangementareheldseparatetoCouncilfundsandareonlyspentinaccordance withthetermsofthetrustarrangements.
Loanfunds:Whenrequired,Councilraisesloanstofunditscapitalprogram.Unspent funds areheld to ensure these works are completed. Council currently funds these worksfromitsunrestrictedworkingcapital.Seenextsection:Loanborrowing. OtherunrestrictedworkingcapitalisheldandallocatedthroughoutCouncil’sLTFPtofund otheroperationalandcapitalprojects.
Loanborrowings
Councilborrowed$40.0mtoredeveloptheAshfieldAquaticCentre.Thisloanisheldwith NSW Treasury TCorp, an organisation that provides funding opportunities for Local Government andotherStateagencies.These borrowings arerepaidfromrateincome raisedovera20-yearperiod.
Asat30June2024,Councilhadprincipaloutstandingonitsloanborrowingsof$34.3m. Council’sDebtServiceCoverratio,whichmeasurestheavailabilityofoperatingcashto service debtincludinginterestandprincipalrepayments, isforecastat22.31to1atthe endof2025/26.ThisiswellabovetheOfficeofLocalGovernment’sbenchmarkof2to1.
WhenCouncilborrowsfundsformajorcapitalprojects,thefundingisneverusedtofund operatingprojects.
Structure
Overviewofstructure
The LTFP is structured around two financial models. This is consistent with the IPR framework.Theseare:
Scenario 1 is the base scenario that captures Council’s ‘Business as Usual’ approachandmaintainsexistingservicelevels.
Scenario2modelstheeliminationoftheAssetRenewalBacklog.
TheLTFPsetsouttheassumptionsforthecompilationofeachscenarioandthefinancial outcomesoverthenexttenyears.Italsoliststhemajoropportunitiesandrisksassociated witheachscenarioprovidingananalysisofthesensitivityofthemodellingtoavarietyof changes.
Thelastsectionofthedocumentcontainshigh-levelmeasuresthatCouncil’slongterm financialperformancewillbemeasuredagainst.
GlobalVariablesandAssumptions
Below is the list of variables and assumptions identified as drivers to predict Council’s revenueandexpenditureforecastsoverthe10yearsofthisplan.Thesevariablesapply to eachoftheLTFP scenarios unless itis explicitlystated otherwise. All ConsumerPrice Index(CPI)referenceshaveanassumedrateof0%perannumforexpenditureand3.8% perannumforincome,unlessstatedotherwise.
Operatingrevenuedrivers
ThefollowingtablessummarisetherevenuedriversonwhichtheLTFPismodelled.
Operatingrevenue area Assumptions
Generalrates
Voluntarypensioner rebates
Basedonthefollowingratecapinfutureyears:
3.7%2025/26
2.5%2026/27andonwards
Counciloffersvoluntarypensionerrebatestoeligibleaged pensioners.
Thisrebatecoversthedomesticwasteandstormwater chargesforresidentownersoftenyearsorgreater.For pensionerswhodonotmeetthiscriteria,grandfathering provisionsexistsforpensionersintheformerAshfield, LeichhardtandMarrickvilleLocalGovernmentArea’s(LGA).
PensionerRateSubsidy
DomesticWaste ManagementCharge (DWMC)andrelated UserCharges
TheStateGovernmentsetsthePensionerRateSubsidyata maximumof$250perpropertyperannum.Thisisaflat subsidyanddoesnotincreaseannually.
TheDWMCismodelledoverthelifeofthePlantocover serviceprovisioncosts.Councilsareprohibitedunderthe LocalGovernmentActfromsubsidisingorreceivingaprofit fromtheDomesticWasteManagementcharge.Since2018/19 Councilhasreviewedandappliedthemethodologyof applyingcorporateoverheadstothedomesticwaste services.Thebudgethasbeenpreparedonthebasisof maintainingtheDomesticWasteManagementChargein futureyearstoallowcapacitytocoveranyreactivecost increases.
Stormwater ManagementService Charge
Thisisaflatchargeusedtofundstormwaterplanningand infrastructure. ThechargeassetundertheLocal GovernmentActandassociatedRegulationsare:
$25.00perresidentialpropertyperannum
$12.50perstrataunitperannum
$25.00per350m2 perbusinesspropertyperannum
Operatingrevenue
Assumptions
Fees Councilgenerallyincreasesthefeesfortheservicesit providedtoatleastcoverannualgeneralmovementsin costs..
Statutoryfeeshavebeenincreasedconsistentwiththe advicefromstatutorybodies.Discretionaryfeeshavebeen increasedbytheCPI.TheLTFPassumesthatthefollowingCPI increases,setsoutas: 3.8%2025/26 2.5%2026/27andonwards
Interestoninvestment
Interestonoverdue rates
TheinterestCouncilreceivesonitsinvestmentshasbeen modelledandisreviewedannually.Themodelislinkedtothe projectedlevelofreservesandforecastinterestrates.As cashisexpectedtodiminishovertimeasCouncilcompletes itssuiteofmajorprojects,amodestandsustainablelevelof interestincomecurrentlysupportsongoingoperations.
Councilchargesinterestonoverdueratestothemaximum thattheMinisterforLocalGovernmentallows.The2025/26 determinationfromtheMinisterforLocalGovernmentfor interestonoverdueratesis10.5%perannum.
Otherrevenues
Rental/leaseincome
Fines
Operatinggrants–general
Thisincludesexgratiaratespayments,incomefromstreet furnitureandcreditcardfees.Itisassumedthatthese revenuesourceswillnotincreaseandareindexedaccording tocommercialagreements.
Itisassumedthatrental/leaseincomewillincreaseatleast byCPI,inlinewithprovisionsofcurrentleases.
TheStateGovernmentdeterminesthedollarvalueof individualfines.Thevolumeoffinesisaproductofthe compliancelevelsandthelevelofenforcementactivity.Itis assumedthattotalincomereceivedfromfinesareflat.
Itisassumedthattotalincomefromgrantswillbeflatover the10-yearprogramanddependantontheinitiativesthat StateandFederalGovernmentprovides.
Operatingrevenue area Assumptions
FinancialAssistance Grants(FAG)
TransportforNSWblock grant
Streetlightingsubsidy
Librarysubsidy
Disposalofproperty
Itisassumedthattotalincomefromgrantswillbeflat.The FAGisbasedontherelativegrowthoftheInnerWestLGAin comparisontothegrowthofWesternSydney.Thisprojection isconsistentwiththe methodologyNSWGrantsCommission usestodeterminetheannualFinancialAssistanceGrant distribution.
ThisisaStateGovernmentgrantwithnoincreaseacrossthe 10years.
ThisisaStateGovernmentsubsidyanditisassumeditwillbe flat.
TheStateLibraryofNSWsetsandadministersthissubsidy undertheLibraryRegulation. Itisassumedthatthiswillbe flat.
ThescenariosassumesthatCouncilwillnotreceiveany incomefrompropertysalesduringthe10-yearlifetimeofthe LTFP.Anyproceedsfromsalesincludingprofitswouldbe transferredtoCouncil’sunrestrictedworkingcapital.
Disposalofplant
Thescenariosassumesthatplantwillbesoldatitswritten downcostduringthe10yearsoftheLTFP.Proceedsfrom sales,includingprofits,aretransferredtoCouncil’sPlant Replacementrestrictedworkingcapital.
Operatingrevenuesensitivityanalysis
Operatingrevenueassumptionsaresensitivetoavarietyofrisksandopportunities, includingthefollowing:
FuturerateincreasesarebasedontheLocalGovernmentPriceMovementsthatthe IndependentPricingandRegulatoryTribunal(IPART)allows.Historically,rateincreases have not kept pace with increasing costs. From 2024/25, IPART simplified their modelling by measuring the annual change in NSW councils’ base costs for three groupsofcouncilswhicharemetropolitan,regionalandruralcouncils.Thenewmodel considers:
o EmployeecostsmeasuredbytheLocalGovernmentAward.
o Asset costs measured by the Reserve Bank of Australia (RBA) forecast change in the CPI adjusted to reflect the average difference between changesintheProducerPriceIndexandchangesintheCPI.
o AllotheroperatingcostsmeasuredbytheRBA’sforecastchangeintheCPI.
o IncludedisaseparateEmergencyServicesLevyfactorwhichislaggedby one year that reflects the annual change in each council’s Emergency ServiceLevycontribution.
o A population factor to measure the change in a Council’s residential population.
Rateincreases only providefor the continuation of existingservice levels. TheInner Westcommunity’schangingdemographicssuggeststheremaybedemandfornew or increased levels of services. These are not funded with ordinary IPART rate increases,whicharebasedonmovementsincostsonly.
Council has also considered rate increases due to increases in the number of dwellings as part of the State Government housing reforms that will be introduced overthenextfivefinancialyears.
The Pensioner Rate Subsidy is set at a maximum of $250 per property and has not increasedsince1993.Thiscreatesagreaterburdenonpensioners.
TheStateGovernmentdeterminesthelevelforindividualtraffic/parkingoffencefines.
TheStormwaterManagementChargeisfixedandhasnotrisensinceitsintroduction in2006/07.
Interest rates have been highlyvolatileover the past12 monthsandarestarting to decreaseandthiswillcontinueinfuturefinancialyears.Itisforecastthatinterestrates willfallandbeflatfortheremaining2024/25 financialyearanddeclineasinflation reducesoverthenextfinancialyear.
HoardingfeesandotherDevelopmentAssessmentincomeisdependentonthelevel of development activity in the Inner West LGA. Although stabilised in the past 12 months,theexpectationsarethatthiswillgrowifgreaterbuildingdensityoccursin theLGAthroughtheproposedStateGovernmenthousingreforms.
Capitalrevenuedrivers
Thefollowingtablessummarisethecapitalrevenueassumptionsonwhichthebase scenariohasbeenmodelled.
RoadstoRecoverygrant ThisisaFederalGovernmentgrant,thatCouncilusedto funditsroadsimprovementprogram.Itisassumedthiswill beflat.
Developercontributions Councilreviewsthedevelopercontributionsfundingeach year.Thefundingislinkedtotheprojectedlevelof development. Allfundsareheldinarestrictedworking capitalfundforreleasetofinanceprojectsincludedin Council’splanasaresponsetoincreasedpopulation growthintheLGA.
Capitalrevenuesensitivityanalysis
Capitalrevenueassumptionswillbesensitivetoavarietyofrisksandopportunities, includingthefollowing:
TheRoadstoRecoverygrantprogramwasintroducedin2013/14andin2019/20itwas extended until 2025/26. In May 2024, this grant was extended again until June 2029 withanincreasedleveloffundingforthenextfiveyears.Theassumptionisthatthe grantwillcontinuethroughoutthe10yearsofthisLTFP.
CouncildoesreceivecapitalgrantsotherthanforRoadstoRecovery.However,these grants are tied to specific projects and are non-recurrent. As the receipt of other capitalgrantsisdifficulttopredict,theyarenotincludedinthemodel.
Operationalexpendituredrivers
Thefollowingtablesummarisestheoperatingexpenditureassumptionsonwhichthe scenarioshavebeenmodelled.
Operationalexpenditure area
Assumptions
Salariesandwages SalaryandwagesincreasedbasedontheStateAwardthat beganon1July2023.Theseincreasesare:
3.0%+lumpsum0.5%or$1,000(whicheverishigher)in 2025/26
2.5%from2026/27andonwards
Superannuation
ThisLTFPincludesaSuperannuationincreaseto12.0%from 2025/26inlinewiththeSuperannuationGuarantee Contributions.
Itisassumedthatsuperannuationcostsformembersofthe DefinedBenefitsSchemeswillbepaidinaccordancewith thecurrentadvicefromtheTrusteesoftheScheme. Councilhasdevelopedamodeltopredictitsongoing contributionstowardtheDefinedBenefitsSchemes.
WorkersCompensation Council’sWorkersCompensationpremiumwassetat$5.9m for2024/25anditisassumeditwillincreaseto$6.8min 2024/25.Thefutureyearsincreaseisasfollows:
10%2026/27
5%2027/28
2.5%2028/29andonwards
Training Itisassumedthatexpenditureontrainingwillbeflat.
Maternityleave
LongServiceLeave
Materialsandservices
Itisassumedthatexpenditureonparentalleavewillbe $426,000in2025/26andwillincreasebyAwardincreases.
ExpenditureonLongServiceLeavehasbeenmodelledand willincreasebyAwardincreases. Themodelisreviewed annually.
Componentsofmaterialsandcontractsexpenditureare reviewedindividually. Thebudgetincludescostestimates fortheactualexpectedexpenditure.
Operational
Disposalcosts
Oilandfuel
Streetlighting
Electricity
Gas
Water
Telephoneandmobile phone
Depreciation
Otherexpenses
StateGovernmentLevies
Thecostofwastedisposalhasbeenmodelledandis reviewedannually.
ItisassumedthatoilandfuelcostswillhaveaCPIincrease annuallyover10years.
Itisassumedthatelectricitycostswillincrease4.0%per annumforfutureyears.
Itisassumedthattherewillbea4.0%perannumincrease inelectricitycostsinfutureyears.
Itisassumedthattherewillbea4.0%perannumincreasein gascostsinfutureyears.
Itisassumedthattherewillbea4.0%perannumincrease forwatercostsinfutureyears.
Itisassumedthatfixedandmobilephoneanddatacosts willhaveaCPIincreaseperannumover10years.
Depreciationhasbeenmodelledinaccordancewith Council’sAssetManagementPlans.RefertoPage6ofthe AssetManagementPolicyandStrategy.
Thisincludescontributionstoorganisationsanddoubtful debts.ItisassumedthattheseexpenseswillhaveCPI increases.
Council’sannualcontributiontotheEmergencyServices Levy(ESL)isestimatedbasedoffthe2024/25costsanda 4.2%increaseapplied.Thecontributionamountwillbe providedtoCouncilinMay2025.TheremainingState Governmentchargesleviedtocouncilscontributetoa rangeofservicesanditisassumedthattherewillbeaCPI increasetotheselevies.
Insurance
Itisassumedthatinsurancecostswillincreaseasfollows:
3.0%2025/26 2.75%2026/27and2027/28
2.5%2028/29andonwards
Operatingexpendituresensitivityanalysis
Operatingexpenditureassumptionswillbesensitivetoavarietyofrisksand opportunities,includingthefollowing:
Thecurrentindustrialawardwasnegotiatedandappliesfrom1July2023.In2025/26 theawardwillbe3.0%+lumpsum0.5%or$1,000(whicheverishigher).
TheFederalgovernmentlegislatedforanincreasetotheSuperannuationGuarantee Charge(SGC) to 12.0% in 2025/26. Natural disasters and other unforeseeable events mayimpactincreasestoinsurancepremiumlevels.
Capitalexpendituredrivers
Thefollowingtablesummarisestheoperatingexpenditureassumptionsonwhichthe scenarioshavebeenmodelled.
Capitalexpenditurearea Assumptions
Informationand Communication
Technology–Hardware/ SoftwareProgram
LocalRoadsandLanes Program
CouncilcurrentlyleasesthemajorityofitsInformation TechnologyHardwareovera4-yearleaseterm.Software costsassociatedwithhardwareupgradesareforecast andincludedintheintheOperatingBudgetoftherelevant year.
TheLTFPprovidesforthefullcostofreplacementof existinghardwareandsoftware.Thebudgetincludesboth thehardwareandsoftwarereplacementprogram.This programreplacesassetsattheendoftheirusefullife.It alsotakesintoaccounttheconsolidationofthreeexisting datacentresintooneandtheconsolidationof maintenanceagreementsandsoftwarelicences.
Maintenancecostsareconsideredaspartofthe evaluationprocessandincludedintheoperational budgetwhererequiredforbothsoftwareandhardware.
Council’sinvestmentinitsLocalRoadsnetworkhasbeen setat$10.0min2025/26.ThesearefundedbyFAGs,Special RateVariation(SRV),RoadstoRecoveryandgeneralfunds. FundinglevelsarekeptatlevelstoensureCouncilexceeds itsRenewalRatioeveryyearforitsinfrastructureportfolio throughouttheLTFP.
Capitalexpenditurearea Assumptions
RegionalRoadsProgram CouncilownstheRegionalRoadnetwork. TheTfNSW subsidisesupkeepthroughgrants.Councilmatches fundingundertheRegionalRoadsprogramusing unrestrictedworkingcapitalorotheravailablefunding sources.
Atotalof$1.7misanticipatedtobespentonRegionalRoad capitalworksthroughoutthe2025/26financialyear.
Councilmaintainsfundinglevelstoconsistentlyexceedits RenewalRatioeachyearforitsinfrastructureportfolio throughouttheLTFP.
FootpathProgram Council’sinvestmentinitsFootpathRenewalandUpgrade Programhasbeensetat$3.3min2025/26fundedbySRV andunrestrictedworkingcapital.Councilmaintains fundinglevelstoconsistentlyexceeditsRenewalRatio eachyearforitsinfrastructureportfoliothroughoutthe LTFP.
BikeFacilitiesProgram
TrafficAmenities Program
Stormwaterupgrade andrenewalProgram
Unrestrictedworkingcapitalanddevelopercontributions areallocatedtoimprovebikefacilitiestomatchcapital grantfundingfromtheNSWorFederalgovernmentsorto funddirectworks.
ThetrafficamenitiesprogramisfundedfromDeveloper Contributions,SRV,governmentgrantfundsorother workingcapitaltoimprovetrafficamenities.Thetraffic amenitiesprogramincludedinthebudgetis$6.1m(this includes$2.3mofPAMP).Thisprogrammaycontinueto reduceasthedevelopercontributionsreducesnexuson trafficamenitiesfromwherethemajorityoftheseworks arefunded.
Councilhasaprogramofcatchmentstudiesacrossthe varioussub-catchmentswithinitsboundaries. Theseare fundedfromtheStormwaterCharge.
DrainagecapitalworksarefundedfromSRVfundsand unrestrictedworkingcapital. Additionalcapitalworksare fundedfromtheStormwaterChargeasdetailedinthe StormwaterPlan.
Thetotalbudgetis$4.1m.
Capitalexpenditurearea Assumptions
ParksImprovement Program ParkimprovementsareprimarilyfundedfromDeveloper Contributions,SRVandFederalorStateGovernment grants.Council’sParksImprovementProgramwas approximately$18.0min2025/26.
TheCapitalProgramalsoincorporatesexpenditureonCouncil’s‘MajorProjects’as follows: Project
LeichhardtParkAquaticCentreMajorProject
GreenWay
HensonParkGrandstandStage2
MainStreetRevitalisation
$10.0million
$7.3million
$6.2million
$5.8million
LeichhardtOval $3.0million InclusivePlaygrounds
million
MortBayPark $1.6million
CallanParkAllWeatherSportingField
Capitalexpendituresensitivityanalysis
$0.3million
Capital expenditure assumptions are sensitive to a variety of risks and opportunities, includingthefollowing:
Council has prepared Asset Management Plans for each of the four infrastructure assetgroups(seeaccompanyingAssetManagementPlans). Asdataisupdatedon the condition of these assets it is likely that further investment will be required to ensureroads,footpaths,drainage,bikenetworks,parksfacilities,buildingsandthelike continuetobeavailableforboththecurrentandfuturegenerationslivingintheInner West.
IncreasinginvestmentstopromoteaccessibilitywillalsoberequiredastheInnerWest populationages.Thiswillbeplannedtoensureanaccessibilitycontinuumbetween local roads, streetscapes and footpaths and transport infrastructure that the State Governmentmanagesincludingtrains,busesandlightrail.
Non-financialassumptions
TheInnerWestCouncil’sCSPprovidesanoverviewofthemajorissuesimpactingupon thelocalcommunity.Thedataandanalysisusedtoarriveatthoseissuesalsoinformthe preparationofthisLTFP.
Scenarios
Scenario1:businessasusual
Overview
Scenario1ispredicatedon:
Continuationofexistingservicesatcurrentservicelevels
Continuationofexistinglevelsofinvestmentininfrastructurerenewal
Continuationofexistingincomesources
Thisscenarioalsoincorporatesthefollowing‘majorprojects’:
LeichhardtOval
LeichhardtParkAquaticCentreMajorProject
GreenWayProgram
CallanParkAllWeatherSportingField
HensonParkGrandstandStage2
MainStreetRevitalisation
InclusivePlaygrounds
MortBayPark
Context
Council was formed by the amalgamation of Ashfield, Leichhardt and Marrickville CouncilsinMay2016anduntilservicereviewsarecomplete,servicelevelswillremainas they were in the former Councils. Council is currently operating from a position of financial stability and has used the IPR Framework to drive the long-term financial sustainabilityandensureCouncilisfitforthefutureasastand-aloneentity.
ItisevidentthatwhileCouncil’simmediateandlong-termfinancialpositioniscapableof delivering existing services at their current levels given current costs, an uncertain economic environment and the changing nature of the Inner West community will generateneworexpandedneedsforservicesandforassociatedfunding.
The State Government caps Council’s major income source (rates) and they have historically grown at a slower pace than salaries, State Government levies and other costs. As a result, Council has reviewed its expenditure and income generated and prioritisedprogramstoensureahighlevelofserviceisprovidedtothecommunitywhile remainingfinanciallyresponsible.Councilhascommittedtoacontinuousimprovement programthroughoutthelifeofthisplan.
Scenario1outlinesthemethodofdeliveringbusinessasusualandScenario2outlinesthe method for dealing with the infrastructure renewal backlog. These scenarios are illustrativeonly.Asandwhentheneeddevelopstofundmajorinfrastructure,providenew orexpandedservicesorinvestmoreininfrastructuremaintenance,Councilwillengage withtheInnerWestcommunityanddeveloptheseoptionsfurther.
Financialprojections
ThefollowingtablesoutlinethefinancialimpactofScenario1:Businessasusualoverthe next10yearsbyexternalreportingcategory.
Scenario1-InnerWestCouncil-10YearIncomeStatementProjection
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)
IncomefromContinuingOperations
RatesandAnnualCharges181,952191,918198,655205,230211,771217,760223,380229,172235,107241,225247,490 UserFeesandCharges60,91366,14467,68669,40771,03172,03573,74475,63777,43779,42281,456 InterestIncome9,3289,8187,8646,6616,4466,2336,1705,8595,7925,7255,760 OtherIncome19,76619,89119,93119,97120,01320,05520,09920,14420,19020,23720,285 RentalIncome10,39311,32111,40211,12210,11910,20610,29510,38610,47910,57510,673 OperatingGrants&Contributions10,35311,86610,66410,25310,25110,25110,19310,19310,19310,19310,193 CapitalGrants&Contributions40,57631,55562,04920,18920,50718,70818,70818,70818,70818,70818,708 Gain/LossonDisposalofAssets(1,109)(920)614100160(402)(1,747)(130)(920)(920)(920)
TotalIncomefromContinuingOperations332,171341,592378,865342,933350,297354,846360,843369,969376,986385,165393,646
ExpenditurefromContinuingOperations
EmployeeBenefitsandOncosts149,127156,351159,451163,600167,668171,837176,111180,483184,953189,534194,230
BorrowingCosts723678638596553510465420373326277 MaterialsandServices95,584100,387101,263102,005105,208104,964106,387108,878111,108112,600114,783 Depreciation34,20438,93639,71340,50641,31542,13942,98143,83944,71545,60746,518 OtherExpenses13,67213,61413,96314,29014,62614,96015,30315,65616,01816,39116,774
TotalExpensesfromContinuingOperations293,311309,967315,028320,997329,370334,411341,247349,276357,166364,458372,583
NetOperatingResultfromContinuing Operations
38,86031,62563,83821,93620,92720,43519,59620,69319,82020,70721,063
NetOperatingResultbeforeCapitalItems(1,716)701,7891,7474211,7278881,9851,1111,9992,355
Scenario1-InnerWestCouncil-StatementofFinancialPosition
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)
ASSETS
Currentassets
Cashandcashequivalents104,35876,51764,99955,62658,75558,44561,45665,26569,96376,28977,644
Investments83,18963,01433,83429,87626,05233,64240,25647,05750,23154,38057,937 Receivables49,24446,53643,97641,55739,27237,11235,07133,14231,31929,59627,969 Inventories207208209210211212213214215217218
Other-----------
Non-currentassetsclassifiedas‘heldforsale’-----------
Totalcurrentassets
Non-currentassets
236,998186,275143,018127,270124,291129,411136,996145,678151,729160,482163,767
Investments58,95058,95058,95058,95058,95058,95058,95058,95058,95058,95058,950 Receivables-----------
Inventories-----------
Infrastructure,property,plantandequipment3,030,8673,110,5883,214,3953,248,9243,271,0173,285,8293,298,6563,309,2613,325,0613,337,8443,351,132 Investmentsaccountedforusingtheequitymethod-----------
Investmentproperty73,43075,26677,14878,69180,26581,87083,50785,17786,88188,61990,391
Intangibleassets5,5936,1816,3866,3866,3866,4466,4466,4466,4466,5066,506 Rightofuseassets286293301307313319326332339346352
Non-currentassetsclassifiedas‘heldforsale’----------Other-----------
Totalnon-currentassets
3,169,1273,251,2783,357,1793,393,2583,416,9313,433,4153,447,8853,460,1663,477,6773,492,2653,507,331 TOTALASSETS3,406,1253,437,5533,500,1983,520,5283,541,2223,562,8263,584,8803,605,8443,629,4063,652,7473,671,099
LIABILITIES
Currentliabilities
Payables77,99158,49343,87032,90336,19339,81241,80343,89346,08748,39250,811 Incomereceivedinadvance-----------
Contractliabilities25,29922,76920,49218,44318,07415,36319,20422,08421,53223,68624,870 LeaseLiabilities119122126128131133136139141144147
Borrowings2,0471,8171,8581,9001,9431,9862,0312,0762,1232,1702,219 Provisions26,89521,51617,21313,77011,0168,8137,0505,6404,5123,6102,888
Liabilitiesassociatedwithassetsclassifiedas‘heldforsale’-----------
Totalcurrentliabilities
Non-currentliabilities
132,352104,71983,55967,14467,35666,10770,22373,83274,39678,00280,935
Payables----------Incomereceivedinadvance-----------
Contractliabilities-----------
LeaseLiabilities169173177181185188192196200204208
Borrowings28,69326,87525,01723,11721,17519,18817,15815,08212,95910,7898,570 Provisions2,4941,9951,5961,2771,021817654523418335268 Investmentsaccountedforusingtheequitymethod----------Liabilitiesassociatedwithassetsclassifiedas‘heldforsale’-----------
Totalnon-currentliabilities
31,35529,04326,79024,57522,38120,19418,00415,80113,57711,3279,045
TOTALLIABILITIES163,708133,762110,34991,71989,73786,30188,22789,63387,97389,32989,981
Netassets3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
EQUITY
Retainedearnings2,467,7102,499,3352,563,1732,585,1092,606,0362,626,4712,646,0672,666,7602,686,5792,707,2872,728,350
Revaluationreserves774,707804,456826,676843,700845,449850,053850,586849,451854,853856,132852,768
Councilequityinterest
3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
Totalequity3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
Cashflow from Operating Activities Receipts
Scenario 1 - Inner West Council - Statement of Cashflows
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
Cashflow from Investing
Activities
PurchaseofInvestmentProperty
ContributionspaidtoJointVentures&Associates
Netcashprovided(orusedin)InvestingActivities4,723
Cashflow from Financing Activities Receipts
ProceedsfromBorrowing&Advances Payments
PaymentsofBorrowing&Advances(2,047)
LeaseLiabilities
Scenario2:Assetmanagementinfrastructurerenewalbacklog
Overview
Scenario2aimstodemonstratetheeffectsof fundingtheinfrastructurebacklogtomeet theneedsofthecommunityandispredicatedon:
Continuationofexistingservicesatcurrentservicelevels.
Anexpandedcapitalrenewalprogramtoreducedinfrastructurebacklogwithinthetime horizonofthisLTFP.
Assumptions
The annual budget includes provisions for operations, maintenance, renewal and new expenditureoninfrastructure.Whenrenewalfundingisinadequate,anyunfundedrenewal demand is deferred, which generates a backlog. Council’s Asset Management Strategy states that the asset renewal funding ratio is to be a minimum of 110% until the renewal backloghasbeenaddressed.
Council identified an infrastructure renewal backlog in the 2023/24 financial reports. The renewal backlog was estimated at approximately $29.3m across its asset portfolio. To addressthisbacklog,additionalfundsarerequired.TherenewalfundingplannedinScenario 2 is insufficient to reduce the backlog of deferred renewal demand, therefore a loan of $23.0mwouldberequiredin2026/27.
Sensitivityanalysis
TheassumptionsonwhichScenario2arepredicatedwillbesensitivetoavarietyofrisks andopportunities,includingthefollowing:
Community engagement will provide a critical input to the service levels that the communityexpects.
Theadditionalrenewalworkswillbebasedontheconditionratingsoftheassets.
Financialprojections
ThefollowingtablesoutlinethefinancialimpactoftheScenario2:Reducetheinfrastructure backlogoverthenext10yearsbyexternalreportingcategory.
Scenario2-InnerWestCouncil-10YearIncomeStatementProjection
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)
IncomefromContinuingOperations
RatesandAnnualCharges181,952191,918198,655205,230211,771217,760223,380229,172235,107241,225247,490 UserFeesandCharges60,91366,14467,68669,40771,03172,03573,74475,63777,43779,42281,456 InterestIncome9,3289,8187,8646,6616,4466,2336,1705,8595,7925,7255,760 OtherIncome19,76619,89119,93119,97120,01320,05520,09920,14420,19020,23720,285
RentalIncome10,39311,32111,40211,12210,11910,20610,29510,38610,47910,57510,673 OperatingGrants&Contributions10,35311,86610,66410,25310,25110,25110,19310,19310,19310,19310,193 CapitalGrants&Contributions40,57631,55562,04920,18920,50718,70818,70818,70818,70818,70818,708 Gain/LossonDisposalofAssets(1,109)(920)614100160(402)(1,747)(130)(920)(920)(920)
TotalIncomefromContinuingOperations332,171341,592378,865342,933350,297354,846360,843369,969376,986385,165393,646
ExpenditurefromContinuingOperations
EmployeeBenefitsandOncosts149,127156,351159,451163,600167,668171,837176,111180,483184,953189,534194,230
BorrowingCosts723678638596553510465420373326277 MaterialsandServices95,584100,387101,263102,005105,208104,964106,387108,878111,108112,600114,783 Depreciation34,20438,93639,71340,50641,31542,13942,98143,83944,71545,60746,518 OtherExpenses13,67213,61413,96314,29014,62614,96015,30315,65616,01816,39116,774
TotalExpensesfromContinuingOperations293,311309,967315,028320,997329,370334,411341,247349,276357,166364,458372,583
NetOperatingResultfromContinuing Operations
38,86031,62563,83821,93620,92720,43519,59620,69319,82020,70721,063
NetOperatingResultbeforeCapitalItems(1,716)701,7891,7474211,7278881,9851,1111,9992,355
Scenario2-InnerWestCouncil-StatementofFinancialPosition
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)
ASSETS
Currentassets
Cashandcashequivalents104,35867,26246,48927,86130,99030,68033,69137,02541,24847,09947,929 Investments83,18963,01433,83429,87626,05233,64240,25647,05750,23154,38057,937 Receivables49,24446,53643,97641,55739,27237,11235,07133,14231,31929,59627,969 Inventories207208209210211212213214215217218
Other-----------
Non-currentassetsclassifiedas‘heldforsale’-----------
Totalcurrentassets
Non-currentassets
236,998177,020124,50899,50596,526101,646109,231117,438123,014131,292134,052
Investments58,95058,95058,95058,95058,95058,95058,95058,95058,95058,95058,950 Receivables-----------
Inventories-----------
Infrastructure,property,plantandequipment3,030,8673,119,8433,232,9053,276,6893,298,7823,313,5943,326,4213,337,5013,353,7763,367,0343,380,847 Investmentsaccountedforusingtheequitymethod-----------
Investmentproperty73,43075,26677,14878,69180,26581,87083,50785,17786,88188,61990,391 Intangibleassets5,5936,1816,3866,3866,3866,4466,4466,4466,4466,5066,506 Rightofuseassets286293301307313319326332339346352 Non-currentassetsclassifiedas‘heldforsale’----------Other-----------
Totalnon-currentassets
3,169,1273,260,5333,375,6893,421,0233,444,6963,461,1803,475,6503,488,4063,506,3923,521,4553,537,046 TOTALASSETS3,406,1253,437,5533,500,1983,520,5283,541,2223,562,8263,584,8803,605,8443,629,4063,652,7473,671,099
LIABILITIES
Currentliabilities
Payables77,99158,49343,87032,90336,19339,81241,80343,89346,08748,39250,811 Incomereceivedinadvance-----------
Contractliabilities25,29922,76920,49218,44318,07415,36319,20422,08421,53223,68624,870 LeaseLiabilities119122126128131133136139141144147
Borrowings2,0471,8171,8581,9001,9431,9862,0312,0762,1232,1702,219 Provisions26,89521,51617,21313,77011,0168,8137,0505,6404,5123,6102,888 Liabilitiesassociatedwithassetsclassifiedas‘heldforsale’-----------
Totalcurrentliabilities
Non-currentliabilities
132,352104,71983,55967,14467,35666,10770,22373,83274,39678,00280,935
Payables-----------
Incomereceivedinadvance-----------
Contractliabilities-----------
LeaseLiabilities169173177181185188192196200204208
Borrowings28,69326,87525,01723,11721,17519,18817,15815,08212,95910,7898,570 Provisions2,4941,9951,5961,2771,021817654523418335268 Investmentsaccountedforusingtheequitymethod----------Liabilitiesassociatedwithassetsclassifiedas‘heldforsale’-----------
Totalnon-currentliabilities
31,35529,04326,79024,57522,38120,19418,00415,80113,57711,3279,045 TOTALLIABILITIES163,708133,762110,34991,71989,73786,30188,22789,63387,97389,32989,981
Netassets3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
EQUITY
Retainedearnings2,467,7102,499,3352,563,1732,585,1092,606,0362,626,4712,646,0672,666,7602,686,5792,707,2872,728,350 Revaluationreserves774,707804,456826,676843,700845,449850,053850,586849,451854,853856,132852,768
Councilequityinterest
3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
Totalequity3,242,4173,303,7913,389,8483,428,8093,451,4853,476,5243,496,6533,516,2113,541,4333,563,4183,581,118
Scenario2-InnerWestCouncil-StatementofCashflows
2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35 ($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)($'000)
CashflowfromOperatingActivities
Receipts
Rates&AnnualCharges181,952191,918198,655205,230211,771217,760223,380229,172235,107241,225247,490 UserCharges&Fees60,91366,14467,68669,40771,03172,03573,74475,63777,43779,42281,456 Investment&InterestIncome9,3289,8187,8646,6616,4466,2336,1705,8595,7925,7255,760 RentalIncome10,39311,32111,40211,12210,11910,20610,29510,38610,47910,57510,673 OperatingGrants&Contributions10,35311,86610,66410,25310,25110,25110,19310,19310,19310,19310,193 CapitalGrants&Contributions40,57631,55562,04920,18920,50718,70818,70818,70818,70818,70818,708 Other19,76619,89119,93119,97120,01320,05520,09920,14420,19020,23720,285
Payments
EmployeeBenefits&On-Costs(149,127)(156,351)(159,451)(163,600)(167,668)(171,837)(176,111)(180,483)(184,953)(189,534)(194,230)
Materials&Contracts(95,584)(100,387)(101,113)(101,855)(105,058)(104,814)(106,237)(108,728)(110,958)(112,450)(114,633)
BorrowingCosts(723)(678)(638)(596)(553)(510)(465)(420)(373)(326)(277) OtherExpenses(13,672)(13,614)(13,963)(14,290)(14,626)(14,960)(15,303)(15,656)(16,018)(16,391)(16,774)
NetCashprovided(orusedin)OperatingActivities74,17371,481103,08662,49262,23263,12764,47464,81265,60467,38568,651
CashflowfromInvestingActivities
Receipts
SaleofInvestmentSecurities162,651164,278165,921167,580169,256170,948172,658174,384176,128177,889179,668
SaleofRealEstateAssets
SaleofInfrastructure,PropertyPlant&Equipment749518518518518518518518518518518 Payments
PurchaseofInvestmentSecurities(33,051)(143,056)(135,460)(163,027)(163,526)(175,906)(176,800)(179,385)(174,914)(178,845)(185,458)
PurchaseofInfrastructure,Property,Plant&Equipment-(125,626)(128,499)(152,980)(84,290)(63,408)(57,012)(55,807)(54,919)(60,990)(58,926)(60,330) PurchaseofInvestmentProperty
ContributionspaidtoJointVentures&Associates
Netcashprovided(orusedin)InvestingActivities4,723(106,759)(122,001)(79,220)(57,160)(61,452)(59,432)(59,401)(59,258)(59,364)(65,602)
CashflowfromFinancingActivities
Receipts
ProceedsfromBorrowing&Advances
Payments
PaymentsofBorrowing&Advances(2,047)(1,817)(1,858)(1,900)(1,943)(1,986)(2,031)(2,076)(2,123)(2,170)(2,219) LeaseLiabilities
NetCashFlowprovided(orusedin)Financing Activities
(2,047)(1,817)(1,858)(1,900)(1,943)(1,986)(2,031)(2,076)(2,123)(2,170)(2,219)
NetIncrease/(Decrease)inCash&CashEquivalents76,848(37,096)(20,773)(18,628)3,129(311)3,0113,3344,2235,851830
PlusCash&CashEquivalents-beginningofyear27,510104,35867,26246,48927,86130,99030,68033,69137,02541,24847,099
Cash&CashEquivalents-endofyear104,35867,26246,48927,86130,99030,68033,69137,02541,24847,09947,929
PlusInvestmentsonhand-endofyear142,139121,96492,78488,82685,00292,59299,206106,007109,181113,330116,887
TotalCash&CashEquivalents&Investments246,497189,226139,273116,687115,993123,272132,897143,032150,429160,429164,816
PerformanceMonitoring
InnerWestCouncilusesthefollowingindicatorstomeasureitsfinancialperformance.These measures arelinked tothose usedin Council’s published financial statements and to the indicators used by the NSW Office of Local Government in its annual publication of comparative information on councils in NSW. This means that the measures and the Council’s progress against them, are both transparent and comparable. A table of the projectedratesisprovidedattheendofthissection.
Operatingperformanceratio
This ratio measures a Council’s achievement of containing operating expenditure within operating revenue. It is important to distinguish this ratio as focused on operating performance.Thismeansthat capitalgrantsandcontributions,fairvalueadjustmentsand reversalorrevaluationdecrementsareexcluded.
Ownsourceoperatingrevenue
Thisratiomeasuresfinancialflexibility,anditisthedegreeofrelianceonexternalfunding sources such as operating grants and contributions. As Council’s financial flexibility improvesthehigherthelevelofitsownsourcedrevenue.
Unrestrictedcurrentratio
TheUnrestrictedCurrentRatioisspecifictolocalgovernmentandisdesignedtorepresent a Council’s ability to meet short term obligations as they fall due. Restrictions placed on variousfundingsources(e.g.DeveloperContributions,TfNSWcontributions)complicatethe traditionalcurrentratiousedtoassessliquidityofbusinesses.Thisisbecausecashallocated tospecificprojectsisrestrictedandcannotbeusedtomeetaCouncil’sotheroperatingand borrowingcosts.
Debtservicescoverratio
This ratio measures the availability of operating cash to service debt including interest, principalandleasepayments.
Ratesandannualchargesoutstanding
Thisratioassessestheimpactofuncollectedratesandannualchargesonliquidityandthe adequacyofrecoveryefforts.
Cashexpensecoverratio
This liquidity ratio indicates the number of months a Council can continue paying for its immediateexpenseswithoutadditionalcashinflow.
Buildingandinfrastructureratio
Thisratioistoassesstherateatwhichtheseassetsarebeingrenewedagainsttherateat whichtheyaredepreciating.
Infrastructurebacklogratio
This ratio shows what proportion the backlog is against the total value of a Council’s infrastructure.
Assetmaintenanceratio
This ratio compares actual maintenance costs versus the required annual asset maintenance.Aratioofabove1.0indicatesthattheCouncilisinvestingenoughfundswithin theyeartostoptheInfrastructureBacklogfromgrowing.
Capitalexpenditureratio
This indicates the extent to which a Council is forecasting to expand its asset base with capital expenditure spent on both new assets, and also the replacement and renewal of existingassets.
InnerWestCouncil-KeyPerformanceIndicators
KeyPerformanceIndicators-Scenario1Benchmark2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
OperatingPerformanceRatio>0(0.59)%0.02%0.56%0.54%0.13%0.51%0.26%0.56%0.31%0.55%0.63%
OwnSourceOperatingRevenue>60%84.67%87.29%80.81%91.12%91.22%91.84%91.99%92.19%92.33%92.50%92.66%
UnrestrictedCurrentRatio>1.5x1.671.781.711.661.851.961.731.972.041.862.02
DebtServiceRatio>2x16.2221.8322.6822.5521.7722.3421.8322.2721.7622.0922.15
RatesandAnnualChargesOutstandingRatio<5%4.31%3.06%3.03%3.00%2.97%2.94%2.91%2.89%2.86%2.83%2.80%
CashExpenseCoverRatio>3Months8.626.144.283.633.513.764.064.384.594.884.96
InfrastructureRenewalRatio>100%129%193%271%139%111%100%101%101%100%100%100%
InfrastructureBacklogRatio<2%0.33%0.38%0.40%0.46%0.53%0.60%0.68%0.77%0.85%0.94%1.04%
AssetMaintenanceRatio>11.081.131.111.111.131.141.151.181.191.211.23
KeyPerformanceIndicators-Scenario2Benchmark2024/252025/262026/272027/282028/292029/302030/312031/322032/332033/342034/35
OperatingPerformanceRatio>0(0.59)%0.02%0.56%0.54%0.13%0.51%0.26%0.56%0.31%0.55%0.63%
OwnSourceOperatingRevenue>60%84.67%87.29%80.81%91.12%91.22%91.84%91.99%92.19%92.33%92.50%92.66%
UnrestrictedCurrentRatio>1.5x1.671.691.491.251.431.541.331.591.651.481.66
DebtServiceRatio>2x16.2221.8322.6822.5521.7722.3421.8322.2721.7622.0922.15
RatesandAnnualChargesOutstandingRatio<5%4.31%3.06%3.03%3.00%2.97%2.94%2.91%2.89%2.86%2.83%2.80% CashExpenseCoverRatio>3Months8.625.733.482.452.362.622.963.283.493.803.87
InfrastructureRenewalRatio>100%129%220%297%164%111%100%101%102%101%101%101%
InfrastructureBacklogRatio<2%0.33%0.03%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
AssetMaintenanceRatio>11.081.131.101.101.121.131.151.171.181.201.22
ReviewofLong-TermFinancialPlan
A final, qualitative performance measure is the regular review of this plan. Inner West Council takesacontinuous improvementapproach tothisplan. Itis expectedthatthe document is progressively refined, as Council’s knowledge regarding the various assumptionsincreasesandasCouncilandthecommunityconsidersanddiscussesthe variousscenarios.
Councilundertakesannualreviewsofthisplanincludingeachofthescenarios.
Document Resourcing Strategy - Long Term Financial Plan 2025-2035
Custodian Version #
Adopted By ECM Document #
Next Review Date
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