The purpose of a Long Term Financial Plan (LTFP) is to guide the future direction of Council in a financially sustainable manner.
The LTFP is designed as a 'high-level' summarised document focusing on the future planning of Council's financial operations - particularly in relation to key components such as rate increases, service levels to our community, major infrastructure asset replacement/renewal and loan indebtedness.
It is driven by Council's Strategic Management Plan which sets out Council's objectives, goals and desired outcome. It is a guideline for future action in financial terms and encourages Council to think about the future impact decisions made today have on Council's long-term sustainability.
The Local Government Act 1999 ("the Act") requires that Councils must develop and adopt Strategic Management Plans including the LTFP which is a moving document updated on an rolling basis over a ten year term.
Councils LTFP was adopted by Council in December 2013.