Operational Plan 2012-2013 - Coffs Harbour City Council - NSW ...

Statement of Council’s Revenue Policy2012/2016 Financial estimatesThe Financial Estimates for the four years have been prepared in considerable detail, ie the same detail as the 2012/2013 Budget. A review of theestimates for each fund reveals as follows:• General FundThe four year Estimates each return deficit results as set out below:YearFinancialEstimate ($)2012/2013 308,365 (Deficit)2013/2014 299,434 (Deficit)2014/2015 924,649 (Deficit)2015/2016 1,557,043 (Deficit)Operational incomes and expenditures are tightly budgeted and have been subject to constant scrutiny in recent years.There is little revenue-funded capital expenditures, apart from asset renewal and rehabilitation programs which are not at sufficient levels to meetrequirements and reduce backlogs. There are significant capital works planned which are funded from rate variations, trading operations, grants,loans, S94 contributions, reserves, etc.Council's revenues are not meeting appropriate expenditure levels in relation to operations, particularly infrastructure maintenance, assetrenewals and capital works. A range of potential solutions to this situation will need to be explored. It is proposed to address this matter inrelation to the 2013/14 financial year through the Long Term Financial Plan, Delivery Program, Asset Management Strategy and WorkforceManagement Strategy. To assist, Council will use the results from the recently completed Service Review and other reviews in progress. Theseinclude:−−−Update to Asset Management Plan,Revenue and expenditure reviews,Community Strategic Plan update.Coffs Harbour City Council – 2012/2013 Operational Plan 28 June 2012 Page 13