Blueprint for financial sustainability adopted
  • Tuesday 22 February 2011

A high level strategic document aimed at achieving the vision to be Australia’s most sustainable region was today given the stamp of approval by Sunshine Coast Council

The Financial Sustainability Plan, which contains a number of commitments that will position council to achieve long term financial sustainability and maintain its strong financial rating over a 10 year period, was unanimously endorsed by Councillors at a Special Meeting to discuss the 2011/2012 budget today.

Financial Management and Business Unit Performance Portfolio Councillor Chris Thompson said that the Financial Sustainability Plan provides a solid framework on which council can reliably make policy decisions that will have a financial impact on both current and future generations.

“Council is in a strong financial position and, by adopting the blueprint set out in the Financial Sustainability Plan, will provide the community with reasonable certainty around what is going to be delivered and when.

“In adopting the strategies contained in the Financial Sustainability Plan, Council has today endorsed the parameters to be used in developing the 2011/2012 annual budget,” Cr Thompson said.

“These parameters will guide development of our model for long term financial forecasting and include such things as a 3.5% general rate increase target, zero increase in levies; maintenance of the current 5% discount for early payment of rates; and a 90% completion target for the annual capital works program.

“We know the costs of running a business can rise unexpectedly and so by working within the framework adopted today, council is in a good position to conduct its business with minimal impact on the community.”

Today was the first in a series of special budget meetings to be conducted before the 2011/2012 budget is finalised for adoption by council in June.