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, asset replacement/renewal and loan indebtedness.
It is driven by Council's Community Plan and Futures Paper which represents Council's vision, aspirations and priorities of the Community now and into the future. The LTFP is a guide 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.