City of Stirling Corporate Business Plan

Long-Term Financial Plan The City of Stirling’s (City) Long-Term Financial Plan is an integral component of the mandatory Integrated Planning and Reporting Framework. It provides the financial link between the Annual Report, Strategic Community Plan, Corporate Business Plan, Workforce Plan and Asset Management Plans to ensure the City can deliver its strategic objectives over the next 10 years. The cumulative vision of these plans is that the City of Stirling will be a place where people choose to live, work, visit and invest as a ‘City of Choice’. To date, the City has maintained sustainable financial performance,

targeting a balanced budget as a minimum standard to fund operational and project requirements. The 2018/19 – 2027/28 Long-Term Financial Plan ensures this performance can be maintained over the next 10 years, with a balanced budget and modest rate increases underpinning the forecast estimates. A key assumption in the development of this plan is the continuation of current service offerings over the forecast period. It is expected there will be minimal changes to the City’s service offering, and that demand for services will grow in line with the assumed inflation factors underpinning the forecast.

The goal of the Long-Term Financial Plan is to optimise and balance the City’s service delivery, service amenity and financial sustainability to provide the best outcomes for the community. The annual budget and the proposed impact on rates are detailed in the Summarised Rate Setting Statement in page 54. The City’s Long-Term Financial Plan has been reviewed in conjunction with the major review of the Strategic

Community Plan and Corporate Business Plan during 2018/19.

Four Year Strategic Capital Projects

18/19 Budget $m

19/20 Budget $m

20/21 Budget $m

21/22 Budget $m

Dianella ROS Master Plan Implementation Inglewood Oval/Hamer Park Redevelopment Des Penman Main Hall and Bowling Club Toilet Robinson Reserve Master Plan Implementation Princess Wallington Community Parkland Development Mirrabooka Regional Centre Improvement Strategy

0.4 1.6

–

–

– –

3.1 0.6

1.5 0.4 0.1 1.0 1.0 3.7 2.1 9.5

– –

0.4 1.6 0.9

–

1.0 0.1 3.8 0.1 0.2

1.0

–

–

Rights of Way

3.6 0.5 5.2

3.8 3.2

Hamersley Golf Course

Recycling Centre Development

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Asset Management Framework The City of Stirling delivers more than 200 services to its community, and many of these services rely on City’s infrastructure assets. It is imperative that the City manages the full life cycle of these assets in the most cost-effective manner. As a result, the provision and maintenance of infrastructure assets and associated services is at the heart of the City’s long-term commitment to its community. Infrastructure assets such as roads, stormwater drainage, buildings, parks and pathways present particular challenges as they have long lives and high values. Long-term financial forecasts are significant and require planning for peaks and troughs in expenditure to ensure the City has the available funds to renew and replace such assets. The demand for new and improved services from these existing assets adds to the complexity of planning and financial forecasting. The creation of new assets also presents challenges in terms of the

additional funding required for the ongoing operating and replacement costs necessary to provide the required level of service over the assets’ full life cycle. The goal of the City’s Asset Management Framework is to address these challenges and provide an appropriate level of service for present and future customers through the development of skills, governance, processes, systems, data, productive use of resources, and the management of assets in the most cost-effective manner. The City’s Asset Management Framework has been prepared under the guidance of the ISO 55000 International Standards for Asset Management, the City’s Strategic Community Plan and the Corporate Business Plan. As a result, the framework is well aligned to deliver the City’s vision, objectives and strategies in providing cost-effective, transparent, quality and affordable service levels in accordance with community expectations.

The City’s Asset Management Policy demonstrates its commitment to aligning asset management with the International Standard ISO 55000. The City’s Asset Management Strategy is a ‘higher level’ enabling document (with a detailed four-year implementation plan) that underpins the Asset Management Policy. The City has developed Transport, Drainage, Buildings and Parks and Open Space Asset Management Plans that outline the asset activities and programs for each service area and resources applied to provide a defined level of service in the most cost- effective manner. The City’s Asset Management Framework is reviewed in conjunction with the Strategic Community Plan and Corporate Business Plan. In summary, the integrated planning mechanism adopted by the City links all its service delivery options to the Strategic Community Plan’s vision and objectives and the Corporate Business Plan.

Corporate Business Plan 2018 – 2022 | 55