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

Ku-ring-gai Council
Draft Management Plan 2005-2009
• To continuously explore opportunities <strong>to</strong> maximise the financial return and
Community <strong>be</strong>nefit from Council’s commercial property holdings.
What we are striving <strong>to</strong> achieve
• Sound, sustainable financial management.
• Reduced debt/effectively managed debt.
• An asset network which is maintained <strong>to</strong> community expectations.
• Continued increase in asset renewal works.
• A decreased reliance on rating revenue.
Where we want <strong>to</strong> <strong>be</strong> in 5 years
• A <strong>to</strong>tal <strong>of</strong> $9.4 million in works <strong>of</strong> ‘direct community <strong>be</strong>nefit’ <strong>to</strong> <strong>be</strong> undertaken,
resulting from reductions in Councils loan repayments.
• Council’s reliance on rates and waste income <strong>to</strong> <strong>be</strong> less than 55%.
• Council’s commitment <strong>to</strong> Capital Works maintained and indexed annually.
• Depot relocation <strong>to</strong> Suakin Street completed.
• Significant increase in returns on Councils properties.
• Councils debt reduced from $11.9 million <strong>to</strong> $8.7 million.
What we will do this year
• Reduce Council’s debt.
• Adopt a 10 year financial model setting the parameters for Council’s Financial
Framework.
• Complete sale <strong>of</strong> Carlotta Street.
• Produce statu<strong>to</strong>ry documents in accordance with legislative requirements.
• Execute commercial leases/Licences as required.
• Review the policy for long term financial sustainability.
• Review options <strong>to</strong> diversify and expand Councils revenue opportunities.
• Model funding options <strong>of</strong> the redevelopment <strong>of</strong> Councils facilities.
• Implement the requirements <strong>of</strong> the International Accounting Standards.
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