The purpose of the Strategic Resource Plan is to:
- Establish a framework to manage the resources required to achieve the strategic objectives as expressed in the Council Plan;
- Provide an assessment of the resources required to achieve the strategic objectives of the Council Plan;
- Plan for the long-term financial sustainability of the Council;
- Establish a basis to measure Council’s adherence to the principles of the Strategic Resource Plan; and
- Assist the Council to comply with sound financial management principles in accordance with the Act.
Developing council financial strategies is often a difficult process.
- Is sufficient revenue being generated to provide the services and level of service required by its community?
- Is the condition of existing assets providing an acceptable level of service to the community?
- What level of funding is required to upgrade existing assets or construct new assets?
- When should debt be used to fund capital projects?
- What is an acceptable rate and charge increase?
A number of strategic challenges remain ahead including continuing to provide an appropriate range and level of services to a growing and diverse community, renewing existing assets, maintaining a sound financial position and addressing the need for capital expansion.