ordinary meeting of council to be held on tuesday, 26 april 2005 at ...

Ku-ring-gai Council
Draft Management Plan 2005-2009
FINANCIAL SUSTAINABILITY
Ku-ring-gai is a largely developed Council with an ageing infrastructure and a heavy
reliance on rating revenue as a proportion <strong>of</strong> <strong>to</strong>tal income.
Council has an annual budget <strong>of</strong> $69 million, <strong>of</strong> which $9 million is committed <strong>to</strong>
capital and project works.
Council’s financial strategies are governed by a 10 year financial model which is
reviewed by Council each year. The aim <strong>of</strong> the model is <strong>to</strong> increase Council’s
commitment <strong>to</strong> asset renewal while simultaneously reducing debt.
Issues
• The need <strong>to</strong> set aside sufficient funding for Council’s ageing asset infrastructure.
• The need <strong>to</strong> broaden Council’s revenue base.
• Finding a balance <strong>be</strong>tween economic returns and social responsibilities governing
Council’s operations.
• Management <strong>of</strong> Council’s debt.
• Maintaining a balanced budget, having regard for increasing statu<strong>to</strong>ry charges and
Council’s reliance on rating revenue.
• Prioritising available financial resources <strong>to</strong> <strong>be</strong>st service the needs <strong>of</strong> the Community.
Policies, Plans, Guidelines
• Federal and State Legislation.
• Australian Accounting Standards.
• Code <strong>of</strong> Accounting Practice.
• Asset Accounting Manual.
• Investment Policy.
• 10 Year Financial Model.
Objectives
• To ensure the financial sustainability <strong>of</strong> Council which allows for efficient service
delivery and the effective management <strong>of</strong> Council’s assets, now and in future years.
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