City of Stirling Corporate Business Plan

Informing strategies and plans: Long-Term Financial Plan

INFORMING STRATEGIES & PLANS

The City of Stirling’s Long-Term Financial Plan is an integral component of the Integrated Planning and Reporting Framework. It provides the financial link between the Annual Report, Strategic Community Plan, Corporate Business Plan, Strategic Workforce Plan and asset management plans to ensure the City can deliver its objectives over the next 10 years. The cumulative vision of these plans is that the City of Stirling will be a sustainable City with a local focus.

To date, the City has maintained sustainable financial performance, targeting a balanced budget as a minimum standard to fund operational and project requirements. The Long-Term Financial Plan 2023/24 2033/34 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 City of Stirling 2023/24 Budget on page 65. The City’s Long-Term Financial Plan has been reviewed in conjunction with the annual Corporate Business Plan review during the financial year.

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