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

effectively service our community. One <strong>of</strong> the first initiatives has <strong>be</strong>en <strong>to</strong> provide the
community with the ability <strong>to</strong> provide feedback and complete surveys directly on<strong>to</strong> the web.
Given the substantial costs involved in information provision and consultation due <strong>to</strong>
increasing requirements <strong>of</strong> the community <strong>to</strong> <strong>be</strong> involved in decision making, this is already
providing returns <strong>to</strong> Council.
Business plans and associated marketing strategies have <strong>be</strong>en or are in preparation for, key recreation
assets including West Pymble Swimming pool, Turramurra and Gordon Golf Courses and our 71
tennis courts in order <strong>to</strong> improve patronage and their financial return <strong>to</strong> Council. The golf courses
and tennis courts provide an income source <strong>to</strong> Council hence the long term viability <strong>of</strong> these facilities
as recreational facilities and commercial ventures and income producing assets is critical.
(ii) Other funding options Council has considered in lieu <strong>of</strong> this special variation application and
reasons for not pursuing these (eg. borrowings).
The development <strong>of</strong> the 2005/09 Management Plan and 2005/06 budget is predicated on the
following principles:
• Maintenance and improvement <strong>to</strong> existing levels <strong>of</strong> service provision <strong>to</strong> the community
• Continuing improvement in Council’s overall financial performance including the
efficiency <strong>of</strong> Councils operations
• Continued commitment <strong>to</strong>wards the maintenance and renewal <strong>of</strong> the community’s assets
• Respond <strong>to</strong> community demand for enhanced environmental management and repair <strong>of</strong>
degraded natural systems
• Analyse the need for new community facilities <strong>to</strong> meet community expectation.
Financing these priorities is closely linked <strong>to</strong> Council’s adopted Ten Year Financial Model
and has <strong>be</strong>en the subject <strong>of</strong> extensive review <strong>of</strong> all available funding options.
The ten year financial model requires that any savings in principal and interest repayments
will <strong>be</strong> transferred <strong>to</strong> works <strong>of</strong> direct community <strong>be</strong>nefit which include parks bushland,
footpaths recreational facilities etc (refer <strong>to</strong> the capital works list above). This is a primary
strategy for increasing the amounts <strong>of</strong> money that can <strong>be</strong> sustainably applied <strong>to</strong> the renewal
and management <strong>of</strong> community assets.
Loan Borrowings
In line with Council’s debt reduction strategy, Council’s loan liability will reduce from $11.3
million at the end <strong>of</strong> the 2004/2005 financial year <strong>to</strong> $6.2 million at the end <strong>of</strong> the 2013/2014
financial year. The reduction in Council’s debt liability is shown in Figure 2.
Figure 2 Ten Year Financial Model loan balance
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